North America

Mortgage loans are available for borrowers with fixed and adjustable interest rates. Lenders take into account the key factors influencing their decisions concerning loans to a borrower. These factors include the credit report, outstanding balance of credit, credit card, downpayment, income, interest rates, funds available and the debt ratio accounts / revenue. In addition, supply and demand, interest rates, demography and economic growth relatively influence of the mortgage industry. Credit in North America and some countries in the Caribbean, borrowers get the mortgage financing through the submission of a loan application in connection with documents related to the borrower, or the financial history of the insurance company of the Bank.

Alternately, the borrower may submit the same documents to a mortgage, that broker after evaluating information and provides the borrower with the best possible financing of mortgaged property options. Often, the unsuspecting borrowers prey to money unscrupulous lenders or brokers in-cash to the borrower’s situation and the work of the situation in his favor, while the Elimination of the liability mortgage on the property and the strength of the owners in foreclosure. Properties foreclosed imposed restrictions on the use or disposal of the property as the sale of the property before the payment of the outstanding debt. The properties are guaranteed under the mortgage to compel the borrower to make a default number of payments for the loan. A borrower can obtain mortgage financing from a financial institution such as banks. Components such as the size of the loan, the maturity of the loan, the interest rate and loan payment method differs significantly from one creditor to another.