National Mortgage Company

National Mortgage Company has grown by leaps and bounds over the years and has become a key player in the international mortgage market. The company is engaged in catering to the needs of its clients and provides a wide variety of mortgage schemes and expert advice on the choice of the appropriate scheme.

Branches of National Mortgage Company:

National Mortgage Company provides financial assistance to a large variety of people residing in 12 states within the United States of America. The company has a branch in Arizona known as NMC Mortgage Corporation Arizona. Its branch in New Mexico is called NMC Mortgage Corporation New Mexico. The other branches of National Mortgage Company are located in Kansas, Indiana, Georgia, Illinois, and Iowa among others.

Mortgage Schemes of National Mortgage Company:

National Mortgage Company offers various mortgage schemes to its clients. The most significant mortgage schemes adopted by the company include:

• Adjustable rate mortgage
• Home equity conversion mortgage
• Conventional loan mortgage
• Fully amortized adjustable rate mortgage
• Conventional mortgage
• Assumable Mortgage

As the name suggests, adjustable rate mortgage is that kind of mortgage where the mortgagor is subjected to modifications regarding the regular payments towards the capital amount of the mortgage loan. The interest rates in case of the adjustable rate mortgages differ from time to time with the changes in certain market indicators. However, the company takes care that the mortgagor is not subjected to extreme changes in the rates of interest. For the calculation of the regular payments towards the capital and rates of interest the company has to consider a number of factors like caps on interest rate, payment options, margins, and so on.

Home equity conversion mortgage is very unique as it assists the householders in changing their house equities into hard currency and the company offers different repayment options to them to choose from. The home equity conversion mortgages are normally referred to as reverse mortgages in the mortgage industry in most countries in the world.

The conventional loan mortgage offered by National Mortgage Company is also known by the name conventional financing. The conventional loan mortgage is such mortgage which is not covered by either Federal Home Administration (FHA) or Veterans Administration (VA).

The company offers the advantage of paying off the total principal at the closing of the of the mortgage loan through its special mortgage scheme called fully amortized adjustable rate mortgage. The company however, the reserves right to modify the rate of interest in case of the fully amortized adjustable rate mortgage.

The company has created the assumable mortgages in such a way that their ownership can be changed. Another mortgage scheme developed by National Mortgage Company is not covered by the Federal Home Administration, Veterans Administration (VA) and Farmers Home Administration (FmHA) like the conventional loan mortgage is named as the conventional mortgage. These mortgages generally stretched over a long period of time such as 30 years. These mortgages normally follow the method of calculation adopted for fixed rate mortgages.

Online Calculators offered of National Mortgage Company:

National Mortgage Company offers a wide range of calculators online to assist those who are desirous of taking up any of the mortgage loans of the company and to facilitate its existing client base also. The range of calculators includes:

• Savings Calculators
• Mortgage Comparison Calculators
• Home Budget Calculators
• Bi-weekly Payment Calculators
• Amortizing Loan Calculator

Social Contribution of National Mortgage Company:

National Mortgage Company is actively engaged in the up gradation of the society and has contributed large sums of money to a number of institutions such as:

• Toys for Tots
• Children's Miracle Network
• Big Heart
• American Cancer Society
• Safe Home
• Atlanta Community Food Pantry
• Boys and Girls Clubs of America

Last Updated on 5/26/2011