Homebridge offers pre-approved mortgage commitment

Real Estate Weekly, Dec 29, 2004

As mortgage rates fluctuate, Homebridge Mortgage Bankers continues to offer consumers a wide array of mortgage products including pre-approved mortgage commitment.

In today's frenzied real estate market, condominium, cooperative and home inventories remain low often forcing buyers to engage in heated bidding wars or to pay more than the list price of a property. Serious homebuyers need an advantage in this sellers market.

Homebridge Mortgage Bankers offers prospective homebuyers a leg-up in the buying process--a commitment. Unlike a pre-approval or a pre-qualification a homebuyer with a Homebridge mortgage commitment is guaranteed a mortgage for the agreed upon amount to enable a buyer to bid on a property within their range.

"After 19 years at Brown Harris Stevens, I've learned that a commitment for a mortgage is everything. Through Homebridge, buyers can shop for a new residence with a commitment in hand. Even without a specific property, a commitment letter can be presented to a buyer, giving them the leverage to negotiate their future home purchase. This gives the Homebridge borrower a distinct advantage in the Manhattan real estate market. I've found that sellers are delighted to have a pre qualified buyer. The commitment letter is as solid as negotiating with cash," said Brown Harris Stevens broker Kathy Sloane.

"We are happy to be able to provide our customers with the advantage of a mortgage commitment in addition to a wide range of loan products, even as mortgage rates begin to rise. Homebridge is one of the market leaders in residential mortgage banking and because of our successful expansion we are able to match potential borrowers with the appropriate mortgage product nationwide, helping them to secure the home of their dreams," said Nicholas Bratsafolis, chairman, Homebridge Mortgage Bankers.

The company, which is based in Syosset, New York, maintains offices in Manhattan at 444 Madison Avenue, and in Fort Lauderdale, Florida. To better assist borrowers Homebridge has rapidly expanded to almost 100 loan officers and 200 employees and is currently originating mortgage loans in 25 states.