The National City Mortgage Company is an ideal company to work with when dealing with mortgages. It has it roots as one of the first banks in Ohio but now it is on a wide-scale operation across the nation.
The main advantage of banking with the National City Mortgage Company is that it values its customers. It recognizes the importance of the presence of the human factor in business. First and foremost, the company values the customers since these people are the one keeping the business alive. It also recognizes its employees’ importance, as it has different employee improvement programs. These programs are designed to get the most out of the employees’ talent for the business to prosper.
The National City Mortgage Company also treasures the stockholders since these are the people keeping the business in a good financial standing. Last but not least, the company cherishes the presence of neighbors in doing business to keep professionalism and uphold standards of mortgaging across the state.
As proof to the excellent business practices of the National City Mortgage Company, it ranks 9th in the Top Residential Services of the National Mortgage News. The mother company, National City Corporation, is listed in the Fortune 500 and Forbes 2000. With these recognitions, no doubt, the company is one of the best in the industry.
It is a good choice to get your mortgage with the National City Mortgage Company since it offers a wide range of mortgage products that will cater to your every need. Listed below are some of the major products that the National City Mortgage Company is offering, along with the advantages of each one.
First is the fixed rate loan. This is perfect if you want predictability in your monthly payments since this scheme offers a fixed interest for the entire period of the loan. If you are a conservative type of borrower, this is the right loan for you since you are shielded from future interest rate increase.
The second type is the adjustable rate loan. This is right for you if you believe that the interest rates will lower in time. This loan has fixed payment for a certain period of time, and then the rates are adjusted according to the index followed by the company.
Thirdly, they offer affordable housing programs that are perfect for first time home-buyers. The highlight of these programs is that the loans are granted even with little or no down payment.
Fourth, they also offer Jumbo Loans if you intend to buy a luxury home and have a good credit standing. And lastly, if you are an eligible veteran, they also have an FHA/VA loan that can be used to your advantage.
As investing in your future home is very essential, working with the right mortgage company will affect how you finance your home. While there are many companies that offer mortgages, they have different terms so you are faced with the crucial decision of choosing the best mortgage company for you.
Initially, you will prefer a company that offers the lowest interest rates but this shall not be your only basis to choosing one. One very important factor will be the trust you have in the company to provide you with the appropriate mortgage terms for your needs.
As much as there are several mortgage companies around, there are many different mortgage packages for you to choose from. For instance, the loan rates may be similar but the packages may differ in structure, mortgage terms, deposits and processing costs. When planning to choose which mortgage terms to take, do consider the cost it will entail in the long run. Remember the shorter the terms, the lower the interest and the higher the monthly payments will be while having longer terms will lower the monthly payments yet increase the interest rates.
So, how do you choose the right mortgage company?
The most important step in choosing the right mortgage company is research. Search in every way you can. The best places to do so is through the internet or even through the local dailies. Yet a more effective way of knowing how a particular mortgage company works is through the first hand experiences of your friends or neighbors. From them, you can assess the credibility of a certain mortgage company. Also, do not be embarrassed to compare the different companies and their packages against each other since it is your right to do so as borrower. This will also allow you to have preferential rates since these companies want your business.
Before engaging into a specific mortgage company’s terms, always be transparent with them as to how much how you can afford so they may pull up specific plans for your needs and suitability. Once you have the all the necessary considerations and are ready to go through the application process, do not hesitate to address your queries to the mortgage company’s representative. They will be glad to be of service to you since they are the ones that will take you through the step-by-step process of explaining the mortgage terms. Do clarify any unclear information with them since the last thing you need would be hidden charges and rates.
With these factors considered, it is time to start scouting your dream home, if you haven’t got one in mind already, then, look around for the right mortgage company to suit your needs.
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