The term 'Benchmark lending' sounds rather new and not very familiar,but when you check out a searchengine,you'll see that the keywords are 'interest rates' and 'banking'. High paying keywords,...not to forget!
In the US the benchmark rate is set by the Federal Reserve which is the interest rate the banks pay when they borrow money. As you might know,banks have a certain amount of money on reserve, but when they need more,they have to borrow money over a very short term (that can be very short,like one night!).
That explains why the term is so valuable
Banks and mortgage companies seek out people who might need a loan. Banking makes it's money on loans, it's just a valuable business to be a part of when there are lots of customers.
Benchmark Lending Group
BLG is a direct mortgage lender, enabling you to quickly secure a new home mortgage or refinance your existing one. They offer a broad range of mortgages that ensures they can provide you with a solution that is specifically tailored to your needs.
They offer :
- 10, 15, 20 and 30 Year Fixed Rate Loans:
The monthly payments and rates for these traditional loans stay the same during the entire loan term. And If principal reduction payments are made, your term will be reduced.
- Fixed for 7 Years (30/7)
The 30/7 loan is great for people who want the security that a fixed-rate loan offers but who are also attracted to the lower interest rates of an adjustable rate loan. The 30/7 loan has a 30-year term and a low fixed rate for seven years. At the end of the fixed-rate term, you have the option to convert to a fixed rate for the remaining 23 years, based on interest rates at the time of conversion.
Choose this type of loan:
If you intend to keep your home for longer than 10 years
If long-term stability is more important than payment amount
If you do not anticipate using your home equity during the term of the loan
You can read more about it on the BenchmarkLendingsBlog
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