Poverni Sheikh Group, LLC

Mortgage lending is the process of giving loans, also referred to as mortgages, to people or businesses so they can buy or refinance real estate. The property being financed is used as security for mortgage loans, serving as loan collateral.

The following are the main features of mortgage lending:

Loan Application: When a borrower applies for a loan, they give the lender specific information about their finances, employment, credit history, and the property they want to buy or refinance.

Loan Evaluation: To ascertain the risk involved with the loan, lenders evaluate the borrower's creditworthiness, stability of income, and the value of the property. This entails looking over the borrower's credit report, proof of income, appraisal of the property, and other pertinent information.