06/07/2024
I new when I became Mortgage Broker again I would have access to tons of different loan options for borrowers. What I did not know was how much BETTER pricing options I had. As a broker I see hundreds of different lenders prices on a given loan, and what I am learning is that some lenders have a much better appetite for certain loans than others. For example a 580 score FHA loan, I am getting 6.75 rate and one lender and up to 7.75 at many others. And compared to most, or maybe even all retail lenders around here, that 6.75 rate is way better! I just talked to an old realtor friend this morning about a client he has in process elsewhere. He said they just locked yesterday at 7.25 rate with one discount point conventional... they have a 760 score. I priced the same loan, and I am at 6.875% with NO points! I am .375 better in rate AND 1% better in fees right off the bat. On this $400k loan, that's $100 per month cheaper in payment, and $4000 less cash to close.
Who you work with REALLY matters in todays market. If you are looking to buy a home, or refinance one, please do yourself a favor and reach out to me also. A 15 minute phone call could save you thousands of dollars!!!
