TERMS AND CONDITIONS – LOANS

These Terms and Conditions – Loans describe the general terms and conditions used in the loan process with IGR Mortgage Services.

You are not required to pay any upfront fees. However, some loans may require you to pay for an appraisal or BPO. Appraisals/BPOs are handled by non affiliated 3rd parties and all fees and costs are collected by the 3rd party and not by IGR Mortgage Services.

Loan costs, rates and terms can only be determined after evaluating:

Property location,
Loan to Value (LTV) based on down payment or equity,
Credit Score (FICO),
Ability to repay, and DSR (Debt Service Ratio)
Your capabilities/experience and
Site Inspection and title report.

We provide a term sheet from the lender/investor and a good faith estimate of closing costs before moving forward with the loan application process.

Closing Costs can include following:

Origination fee, documentation/underwriting fee and credit report – all paid at close of escrow to the investor/lender funding the loan.  Broker fee paid to IGR Mortgage Services.
Escrow fee and recording costs paid to title company.
Title Policy paid to title company.
Servicing Setup fee plus monthly fee paid to loan servicing company, if applicable.

IGR Mortgage Services does not service the loans.

IGR Mortgage Services does not warehouse loans or keep loans for re sale.

Most of our loans have a specific due date (balloon payment) and may not be extendable past the due date. There is no guarantee that the lender will extend the term of the loan.

These are Non Owner-Occupied Loans, Bridge Loans, Construction Spec Homes or Commercial Investment Loans.

Many of our loans have monthly payments that are interest only (IO), which means there is no principal reduction to the loan during the term of the loan.

Loans may have a prepayment penalty or a minimum time commitment.

We consider credit score to determine loan possibilities. Poor credit will usually result in higher interest rates and a higher down payment (equity) however we consider mitigating factors, if any.

Borrowers with outstanding judgments, tax liens or pending litigation would have to be settled before close of escrow to qualify for any of our loan programs.

Any third party costs/fees or services you pay directly are your responsibility. If the loan is denied for any reasons, IGR Mortgage Services is not responsible for refunding any of the costs/fees or services pay directly by you.

IGR Mortgage Services is a Hard Money Mortgage Broker who will work for you to provide you with the best possible rates and terms. Underwriting is fast and easy; with closing is just a few days in most cases.

Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Terms and conditions of all loan programs are subject to change without notice.

E-Mail Communications
We may email you to communicate with you about your loan. You may also receive occasional e-mail communications regarding our site, special offers, service or products If you do not wish to receive promotional e-mails you may e-email or write to us instructing us to take you off our list our you can unsubscribe from the mail by using the unsubscribe link located at the bottom of all e-mails. See our Privacy Policy for details.

On-Line Submission Requests
By submitting your contact information you agree to our Privacy Policy. You also expressly consent to having us, or affiliates, contact you about your inquiry by text message, phone (including automated telephone dialing system or and artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national do not call registry. You do not have to agree to receive such calls or messages as conditions of getting any services from IGR Mortgage Services or its affiliates. See our Privacy Policy for details.

Personal Information
When visiting our site you can view our web pages without telling us who you are or transferring any personal information. We may track the IP Address, added tracking code and tracking pixels to analyze trends and usage and further re-marketing. See our Privacy Policy for details.

Protection of your personal information
The personal information that you provide in connection with a loan application is classified information. See our Privacy Policy for details.

Contact Information:
IGR Mortgage Services, a division of Encore Holdings, Inc.
52 Galen St
Lake Oswego OR 97035
Phone: 503-504-2660
email: [email protected]
Scott E. Shankland, President-Owner.