Finding a mortgage loan for your home can be a confusing experience.   With so many options to choose from, it can be difficult to find your way. That is a why a Mortgage Broker is your number one source for a loan. A Mortgage Broker will guide you throughout the lending process, provide you with any help you need, and will try to simplify the process. You will get the service and selection you want from a Mortgage Broker.

• Full-time residential real estate finance professional.
• Experts at working throughout the mortgage lending process to save you time.
• Your representative to many lenders
• Providers of loans that comply with industry standards and requirements.
• Specialists with competitive, up-to-date loan rates.
• Resources of knowledge on current trends and terms in the industry.
• Affordable consultants who will save you time and money.

 Why Use a Mortgage Broker?

• Our focus is to help you achieve the "American Dream" through proper financing of your home purchase or refinance.
• We have a vested interest in satisfying your needs.
• We will select the best lender from our many sources to provide you with a loan that meets your individual needs.
• We have extensive knowledge of the many loan programs available and will take the time to fit your needs to the best loan.
• There is a loan for everyone, and we know how to find it.
• Because interest rates change daily, we can obtain a locked-in rate to insure that the rate being offered is available to you at closing.
• We are motivated to keep the processing time to a minimum to satisfy you with timely performance.
• Our position in the mortgage industry gives us a competitive edge allowing us to provide you with a loan that costs less. Cost is the bottom line!

• Your tax returns and W-2s for the past two years
• Most recent consecutive 30 days worth of paystubs
• A list of your current assets and phone numbers for each depository

 IN ADDITION:

If you’re a purchasing a home,

• A copy of the sales contract
• A copy of the canceled earnest money check or receipt along with details on the source of the earnest money and down payment
• A history of current mortgage payments or rent payments from the past twelve months (front and back of checks)

 If you are refinancing a home,

• Your current mortgage payment with the principal amount still owed

(More items may be required, depending on your specific situation and loan program.)

What Is The NAMB?

The National Association of Mortgage Brokers (NAMB), founded in 1973, promotes the mortgage brokerage industry by providing continuing educational opportunities for its members and real estate community. All members adhere to a strict code of business ethics, which govern their daily activity. With members throughout the United States, the NAMB has become the leader in our industry. American Advantage Mortgage is a member of the NAMB.

Q: Why choose a mortgage broker:

A: Over 50% of Americans do. Brokers provide consumers with:

• Choice
• Convenience
• Expertise

The broker provides the consumer and expert mentor and guide through the complex mortgage lending process. The broker also offers the consumer a more extensive choice of loan programs and access to more affordable loans.

Q: Have more Americans been able to buy homes because of mortgage brokers?

A: Yes! Mortgage brokers have pioneered the "sub-prime" credit market, using innovative loan packages to allow low to moderate income borrowers, with less than perfect credit histories, to start enjoying the benefits of home-ownership.

Q: Does the mortgage broker really care about the quality of the loan itself?

A: Yes, absolutely. The safety and soundness of the mortgage lending community is directly linked to the success and integrity of its home loan origination's. Furthermore, mortgage brokers represent the single largest residential origination source today, emphasizing that they play a significant role in the mortgage loan process. These numbers highlight the fact that consumers who exercise their choice choose mortgage brokers.

Q: Should brokers be regulated?

A: Brokers are regulated by several federal laws and regulations and dozens of state laws and licensing boards. NAMB supports reasonable and fair state/federal regulation of mortgage brokers and lenders.

Other Guidelines, Standards, and/or Certifications:

 Government Agency Guidelines

The government agencies that fund, insure, and/or purchase mortgages have guidelines for originating mortgages. Agencies include the FHA, VA. Government Sponsored Enterprises include Fannie Mae and Freddie Mac.

 NAMB Guidelines: Code of Ethics, Best Business Practices, Model Disclosure, and Professional Certification

NAMB has developed many industry guidelines for its members to ensure that NAMB members offer the highest quality products and services to both consumers and lenders. NAMB sponsors ongoing conferences and seminars and administers a professional certification program to promote these guidelines to its members and the public.

In-House Quality Control Polices & Procedures

Our company has QC policies and procedures in place. These include written documentation, staff training and reviews. 

For more information on Mortgage Brokers, please contact:

NAMB

National Association of Mortgage Brokers

706 East Bell Road, Suite 101

Phoenix, Arizona 85022

• There are currently 20,000 mortgage brokerage operations in the U.S., employing an estimated 200,000 people. Since mortgage brokers represent well over half of the home loans originated today, it is not surprising that they originate more mortgages than any other single loan source group in this nation.

• The brokerage industry plays a significant role in the mortgage lending process and the American economy by increasing competition and driving down costs. The expansive mortgage broker network allows loan wholesalers of all sizes to immediately gain a national presence without incurring the great expense of national advertising and maintenance of branch offices.