Understanding Loan Rates
At FHA Pros Online – our best customer is an informed buyer. We will take the time to share with you all of the important information so you can make an informed decision. Once you have the information, you will know how to save yourself thousands of dollars in your lifetime of borrowing. The mortgage market is the mortgage market. Any program that sounds too good to be true, generally is!
Mortgage advertising usually falls into one of two categories, the low or no cost ads, or the lowest rate ad.
You’ve heard or seen them, right? “We have the lowest rates, call today!” Or “Don’t pay closing costs, it’s the biggest no-brainer in the history of earth!!” OR, “Call today to take advantage of our $395 flat fee loan!” Or worst of all, go to our website, fill out the form, and up to 4 lenders will compete for your loan. How can everyone be the best or lowest? How can they all be true? Most mortgage advertising is designed to do one thing and one thing only; get you to call, or fill out the form online. Why? Because they know once you start down the road, it becomes such a hassle to switch! This is the major reason people put up with lousy service and the last minute surprises. People begin to expect the higher than “quoted” costs and or rates. You should just plan on closing late, over budget, with lots of surprises.
So what is the truth?
First let’s look at the low or no closing cost ads. Almost anyone can do a no closing cost loan or a loan with a flat $395.00 in closing costs. How? It’s simple, you just have to be willing to accept the highest rate, or best case, a much higher rate than you could get if you paid some of your actual costs. Under this plan you will be refinancing the loan every time the rates go down. How does getting a new 30 year loan every couple of years sound to you? Great, if your goal is to always increase the amount of time and money it will take you to pay off that loan.
What about the “we have the lowest rates” ads? Since they stop there, and don’t tell you how much the closing costs are going to be, they can say they have the lowest rate. The truth is, if you are willing to pay the costs, you can “buy” the rate, but you paid for it! We are certain that once you understand how this game really works, you won’t want to pay the costs associated with the so called “lowest rate”.
SO REMEMBER THIS FOR THE REST OF YOUR LIFE
Whether you get a loan from FHA Pros Online, or somewhere else; there is always a direct relationship between the rate you get and the closing costs you pay. You can’t talk about rate, without talking about the closing costs. We lift the curtain for you so you can make the best decision for your personal situation. You’ll learn why the words “Loan Origination Fee” are so misleading, and how consumers waste thousands of dollars on this one fee alone. We will explain all your Rate/Cost Options, and then help you to decide which combination provides you the best value. You will know how to save money and how to have the lowest overall cost of borrowing, not just today, but for the rest of your life of borrowing. In addition to helping you make an informed choice, we provide you a written guarantee! If any of the costs we quote are even one penny higher when you close, we will pay you the difference plus $500! No other lender makes this promise, and we do it on every loan we close!
So, what about us?
At FHA Pros Online we are your connection to the mortgage market. As a direct lender, we lend our own money! We can share loan programs from both the public and government insured markets. We have dozens of programs, thousands of combinations, and a loan program that will fit your lifestyle and your budget.
We take the time to get to know you and how you feel about your own money. We also help make certain that the program you choose and the specific Rate/Cost combination saves you the most money. At the end of the day, isn’t that what you really want?
At FHA Pros Online our goal is to serve you, the client, and provide exceptional value at a fair price. We are so confident in our ability to deliver what we promise; we put it in writing and guarantee it! Isn’t that what you would expect from a pro? Don’t accept anything less!
So why go it alone when making one of the most important financial decisions of your life? Find out everything you need to know, call FHA Pros Online and schedule an appointment today! Arm yourself with the knowledge you need to become an informed buyer! On time, under budget, no surprises, GUARANTEED!
Click here to find out what it takes to get started – and we won’t ask you to fill out anything online!
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