MFS Mortgage Services

We are a Direct Lender and broker in locating the best mortgage for your individual circumstances. We have extensive experience in the Jumbo, Super Jumbo, conforming mortgage, and particularly specialized in niche products. We can help you secure a residential mortgage loan, even if you have bad credit history or challenging circumstances.

A mortgage requires you to pledge your home as the lender's security for the repayment of your loan. The lender agrees to hold the title to your property (or in some states, to hold a lien on your title) until you have paid back your loan plus interest. If you do not repay your mortgage loan, the lender has the right to take possession of your house and sell it in order to satisfy the mortgage debt.

There is a wide selection of mortgages available in today's market, and you should narrow the field by considering your particular situation. How important is it to be free from mortgage debt before your children's college bill or planning for your own retirement?. How comfortable are you with the certainty of a fixed mortgage payment versus a payment that can change over time?.

If you expect to live in your home for many years, the interest rate of your loan may be your primary consideration. You may want a fixed-rate mortgage that will ensure that your interest rate will remain the same for as long as your have your loan. If you decide that you like the stable, predictable payments of a fixed-rate loan, then you must choose form a variety of repayment terms - 15, 20, and 30 years are the most common.

Discount points allow you to lower your interest rate. They are essentially prepaid interest, with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage, the interest rate is reduced by 1/8 (or.125) of a percentage point. When shopping for loans, ask lenders for an interest rate with 0 points and then see how much the rate decreases with each point paid.