How To Rate Shop For Mortgage...

 Good Morning!

If you’re rate shopping for a mortgage – here are some guidelines for you to keep in mind…

1) Get a Loan Estimate (LE). There’s always a relationship between fees / points / and rate. …You won’t know what that relationship is unless you look at a LE. (A low rate is great, but if you are paying points to get it – it may not be so great after all.)

2) When looking at the LE – focus on the mortgage fees. These are the only fees the loan officer really knows at the time he/she is creating the LE. They will just be estimating the title fees, insurance, and taxes.

3) Pay attention to the date on the LE – or rate quote. The rate market changes daily. You have to compare apples to apples. …To compare two rates generated 1 week apart is a waste of time. The rate that appears higher may actually be priced more competitively than the lower rate – depending on when the quote was generated.

That’s it for today!

Have a great Thursday! …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

Jumbo Is Starting To Come Back...

 Good Morning!

I hope you had a great holiday weekend!

I wanted to let you know we are getting more Jumbo products back.

Once Covid hit the Jumbo market went away.  You just couldn't get a Jumbo loan.

Now the product options are starting to come back.  So, if you have a Jumbo loan and would like to look at a possible refi - give us a call or shoot us an email and let us take a look at that for you.

That's it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

When Forbearance Won't Help You...

 Good Morning!

I've written about this before, but I see it every day, and wanted to remind you...

Remember, from a loan perspective it’s very difficult to get a loan if you are currently in Forbearance, and the loan is behind.

Lenders will insist the loan be brought current, and removed from Forbearance before they will give you a loan.

Rates are low right now – a very good time to lock in to a low rate!

That’s it for today.

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog