Who is A1 Funding?
A1 Funding is a registered Mortgage Broker with the New York State Banking Department.
A mortgage broker acts as an intermediary who sources mortgages on behalf of individuals or businesses. (Mortgage broker may refer to the company or an individual – at A1 Funding our Loan Officers are the individuals that assist you).
Traditionally, banks and other lending institutions have distributed their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become more popular. Today in most developed mortgage markets mortgage brokers are the largest distributors of mortgage products for lenders.
The majority of mortgage brokers are regulated to ensure a level of protection for the consumer. The extent of the regulation depends on the jurisdiction.
Why use a mortgage broker?
In competitive mortgage markets many lenders use an array of rate offers and other incentives to attract customers. To many consumers, due to their infrequent purchases of mortgage products, the mortgage market may appear confusing and somewhat daunting. A mortgage broker can guide them through the process of selecting a suitable mortgage and offer mortgage and property related financial advice. A mortgage broker has the ability to examine loan programs from dozens of banks and lending institutions, many of which are not available to the general public. This way, a broker is able to find the best rates and programs possible for the client.
Some people simply go into their local bank or trust company to finance their new home purchase, or to renew or refinance their mortgage. Although convenient, this method only allows you to choose from the mortgage rates, terms and products that particular institution is offering. These are not always the best rates, terms and products available in the market. You could conceivably shop around to every local financing institution yourself to find the best mortgage, but that can be very time consuming and extremely confusing. A1 Funding Mortgage Brokers (Loan Officers) are trained professionals who act as “financial matchmakers” and can assist you every step of the way in this extremely important home buying decision. We have a wealth of knowledge and experience to find the mortgage that best suits your needs. If the lowest rate is your priority, our Loan Officers can often arrange mortgages at rates up to 1% lower than the banks posted rates for qualified applicants. Perhaps payment flexibility and discharge options are what you are looking for. In this case, our Loan Officers would shop the market for the mortgage with the best pre-payment privileges and options.
For borrowers with poor credit records, or other unusual circumstances, finding a lender may be difficult. Our Loan Officers, having specialized knowledge and multiple lending sources, will be a valuable resource in obtaining financing.
Advantages of A1 Funding
We work for you, not the bank. Our friendly Loan Officers ensure your loan closes as smoothly as possible. From filling out your application to closing on your home, we are with you every step of the way. We are upfront and honest and will explain all aspects of your loan to you in terms you will understand. Options! We show you and explain in detail all of your options. In easy to understand charting, we review with you the best possible options for your mortgage.
- We work for you, not the bank. Our friendly Loan Officers ensure your loan closes as smoothly as possible. From filling out your application to closing on your home, we are with you every step of the way. We are upfront and honest and will explain all aspects of your loan to you in terms you will understand.
- Options! We show you and explain in detail all of your options. In easy to understand charting, we review with you the best possible options for your mortgage.
- We have access to wholesale lending institutions and banks which often have better rates.
- Great selection of mortgage options from a large selection of lenders so that you can save money by selecting from the best products available.
- Free Pre-Qualification
- No junk fees or extra costs
- You will be pre-qualified with a choice of loan options (availability to get your rate locked in case rates go up).
- We work together with your Realtor or Financial Planner for your purchase or refinance.
How much does hiring a Mortgage Broker cost?
In an effort to gain a larger market share and reduce fixed salary costs, many financial institutions are paying finder's fees to Mortgage Brokers who refer business to them. This allows the A1 Funding, in most cases, to provide you with our valuable service at no cost to you.
Like a Real Estate Professional, we have a vested interest in getting your financing approved, as we get paid when the deal is closed and the mortgage is funded. We arrange all types of financing; first mortgages, second mortgages, construction financing, vacant land, farms, mobile homes, commercial properties, lines of credit and home equity loans.
Great savings can be realized over the life of your mortgage by choosing the mortgage with the best rate, term, payment flexibility and pre-payment privileges to suit your needs. A1 Funding can often get lower rates than you can from your institution.
At A1 Funding we think of our clients as our friends, helping them secure the home of their dreams. It is extremely rewarding to our Loan Officers to see one of their clients/friends close on their very first home. We understand the importance of owning your own home; we build the relationship from there. A1 Funding has assisted many clients who have chosen to refinance or who have opted to move years from their initial purchase. It gives us great pleasure to know that these clients/friends come back to us for assistance.
At A1 Funding, you will not be “a number” as many of the bigger firms treat you. We are available when you need us; we keep you updated on the status of your mortgage, you deal with a professional friendly Loan Officer not an automated phone service. Word of mouth has been our best advertising from referrals by our previous clients. That is the type of advertising you have to earn, not pay for.