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What is Professional Mortgage Connection, LLC? |
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Professional Mortgage Connection, LLC, (PMC) is a full-service mortgage and loan brokerage company that explores loan products to find the specific one that fits our borrowers' needs. Every situation is different; fortunately, the team at Professional Mortgage Connection knows how to research and structure loan products that help you get the financing you need... fast and simple.
James Butler, president of PMC, has over 33 years experience in the mortgage and loan industry. He was formerly founder and CEO of Housing Opportunities, Inc., a non-profit housing counseling and mortgage financing agency. During his tenure, Jim developed several innovative homeownership products that have been recognized and replicated locally, regionally and nationally. He now leads a professional staff with a broad range of experience in the mortgage and loan industry.
Professional Mortgage Connection, LLC is licensed by the Pennsylvania Department of Banking as a First and Second Mortgage Broker (holding License No. 13895 and License No. 14605 respectively). PMC is an active member of both the Pennsylvania and National Association of Mortgage Brokers. As such, Professional Mortgage Connection operates in full compliance of the Federal Fair Housing and Equal Housing Opportunity standards and requirements and is held to the strictest Code of Ethics. |
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What steps should I take to get a loan? |
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First, evaluate what your financial needs really are. Figure out how much money you would like to borrow, and we will find a loan program and lender that fits those needs. When you have all your requirements in order, go to our pre-qualification page and fill out either the short or full application. You will receive an e-mail confirming that you filled out the loan application. In lieu of completing the application online, you may also set up an appointment with one of our loan officers. At your convenience we will come talk to you about your loan options, or you may visit our office to discuss your options.
Now, you are ready to apply for the loan. Some information you will want to have prepared to show your loan officer are documents such as bank account statements, paycheck stubs, tax statements, debts and investments. If you do not have all of these items ready when you meet with your loan officer, do not worry. Your loan officer may not need all of these documents to start the loan process, but having the information at the start may expedite the process.
After applying for the loan, you do not have to do any work at all. Our team will work with lenders and communicate your needs to find the best loan for your specific situation. We will do this as expediently as possible because we know the importance of receiving your approval as quickly as possible. However, expect the process to take a few days. We want to know that you are receiving the best deal and that we have covered every aspect of the loan programs.
When your loan officer finds the right program, it is time for the closing. Before all the paperwork is signed by you, we will make sure you understand every detail of your loan and answer any questions you may have. Upon signing the loan documents, your loan process is closed, and you may begin working toward the future.
Receiving a loan can seem like a daunting task, but it isn't! Not when you have Professional Mortgage Connection doing the work for you. Leave the worrying to us. Give us a call and take the next step towards obtaining a stress-free loan! |
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How do I know what kind of loan I need? |
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You might know generally what kind of loan you need. For example, you know if you want a personal loan, a home loan or a business loan. However, loan programs can number in the hundreds, and without education and experience, the search can become overwhelming. So let us work for you, let us show you how efficiently our team can meet your financial needs. |
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How do I find out if I am qualified to get a loan? |
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Just click on the words pre-qualify on our homepage; you will be redirected to a secure website that encrypts all the information submitted. This information can only be viewed by our staff at Professional Mortgage Connection. The electronic form obtains all the information we need to start exploring the different options our team understands well through our experience and expertise. |
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Will I have to do any work myself to find a loan? |
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Not at all. Our loan officers will do the work for you. We have experienced professionals on our team who know the loan programs thoroughly, inside and out. Aside from supplying the documents needed by our team to understand your financial needs, you do not need to do anything until it is time to sign at the closing. |
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How do I know how much loan I can afford? |
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The amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing and able to make. You may also be able to take advantage of special loan programs our staff can offer. Give us a call. We will help you determine exactly how much you can borrow safely. |
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How much cash will I need to purchase a home? |
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The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
Earnest Money: The deposit that is supplied when you make an offer on the house
Down Payment: A percentage of the cost of the home that is due at settlement
Closing Costs: Costs associated with processing paperwork to purchase or to refinance a house |
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What happens after I am pre-qualified? |
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After pre-qualification, we will talk to lenders and find the most beneficial loan program for you. Getting your money fast and easily is a commitment we make to every one of our clients. Once we find a unique program that meets your requirements, we work as efficiently and as quickly as possible to get the funds to you. |
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What is the difference between a fixed-rate loan and an adjustable-rate loan? |
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With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage. The best way to select a loan product is by talking to us. |
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How is an index and margin used in an Adjustable Rate Mortgage (ARM)? |
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An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR). |
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Where is Professional Mortgage Connection located and what is the contact information? |
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Our company is based in McKeesport, Pennsylvania, located in the historical MonongahelaValley in Allegheny County. Although we are located in western Pa., we serve all of the areas of the state. To contact us, give us a call at 412-672-5060 or send us an E-mail at general@pmc-web.com at your convenience. |
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