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When a person is buying a residential real estate in OC, they are more than likely getting a mortgage. This means that a homebuyer will be the borrower using a home loan, and the property in question as collateral. The best way to do this is to get in touch with a mortgage broker or loan officer who works for a mortgage company. That person will locate a wholesale lender able to lend to the borrower provided they meet certain criteria.
The wholesale lender is usually an institution like a bank, credit union, finance company, insurance company, trust company, or pension fund. Sometimes it is a private individual seeking a higher yield on their money to higher risk borrowers who need a loan. The lender gets monthly interest payments and has a lien on the property as security that the loan will be repaid.
In turn, the borrower is satisfied because they get a loan they otherwise would not get and a home in their name. Once the mortgage is paid in full from either a sale or refinance, the lien is removed. However, if the borrower does not repay the mortgage according to the terms of "note" the lender has the option to take possession of the property.
1st Nationwide Mortgage is one of the best mortgage brokers in Orange County, California and has earned excellent reviews for their professionalism and expertise. We finance residential real estate in all of California and neighboring states. A mortgage broker in Orange County with two decades of experience in the industry, we make the extra effort to provide the highest level of service and a genuine interest and concern for our customers satisfaction. At 1st Nationwide Mortgage, we believe that we are among the leaders in the industry.
We are dedicated to giving our borrowers the highest quality service for their mortgage needs in addition to the numerous loan programs available in Southern California. Our state licensed mortgage originators have years of experience and will consult with you individually to make sure you get the right home loan that specifically meets your needs.