Education

Why Excel Realty Capital?

Buying or developing real estate is likely the largest investment you will make in your lifetime. Your mortgage should be handled by a company built by professionals with financial backgrounds and education. Does your current mortgage broker understand the financial markets? What's the difference between LIBOR, COFI and USTs? What causes rates to move? What the best program for you really is? At ERC, we do and we can explain it to you in simple terms BEFORE you make a decision on your mortgage.

Tips to protect you from becoming a victim of Mortgage Fraud

Get referral for real estate and mortgage professionals. Check the licenses of the industry professionals with state, county, or city regulatory agencies.
If it sounds too good to be true, it probably is. An outrageous promise of extraordinary profit in a short period of time signals a problem.
Be wary of strangers and unsolicited contacts, as well as high-pressure sales techniques.
Look at written information to include recent comparable sales in the area, and other documents such as tax assessments to verify the value of the property.
Understand what you are signing and agreeing to--If you do not understand, re-read the documents, or seek assistance from an attorney.
Make sure the name on your application matches the name on your identification.
Review the title history to determine if the property has been sold multiple times within a short period--It could mean that this property has been "flipped" and the value falsely inflated.
Know and understand the terms of your mortgage--Check your information against the information in the loan documents to ensure they are accurate and complete.
Never sign any loan documents that contain blanks--This leaves you vulnerable to fraud.
Check out the tips on the Mortgage Bankers Association's (MBA) website for additional advice on avoiding mortgage fraud.
Mortgage Fraud is a Federal Crime. Notice regarding Fraud.

Important Questions to ask your Lender / Broker

What is my rate, and how long is that rate fixed for?
Will I have a pre-payment penalty? What are the terms of that penalty?
When will my first payment be due?
If your loan is an "option ARM", what is my INTEREST Rate, as opposed to my PAYMENT Rate?
What is my APR?

There are many other important aspects of your loan that can greatly effect your payment and financial responsibility. We recommend that you ALWAYS have a real estate attorney review your loan docs prior to closing. A real estate attorney will usually charge less then $1,000.00 but can save you many times that if your mortgage is not the right deal for you.

Avoid Foreclosure Rescue Scams

Don't be the next victim to lose your house to "consultants" who claims they will pay your mortgage. (CNN article)