Mortgage brokers can find the lowest interest rate mortgage loan from many lenders.
If you are looking for a mortgage loan to purchase a home or refinance your home, then finding the lowest interest rate loan can save you $ 40,000 in interest charges compared to an average interest rate mortgage.
Mortgage lenders and banks only provide their interest rates. A mortgage lender or bank will not tell you that another lender has lower rates. Banks and lenders will use relationship skills to persuade you to close your mortgage with them.
This friendly relationship will cost you $ 40,000 on average.
Mortgage brokers represent multiple mortgage lenders and are impartial to the lenders with exception of finding the lowest interest rate mortgage loan for their clients.
Mortgage Brokers can close loans faster than most lenders and banks.
Mortgage lenders and banks only have one assembly line to originate, underwrite and close your loan request. The banks and lenders get overloaded and lack the manpower to provide fast, efficient loan closings.
Mortgage brokers will provide better communication, and can place your loan request with the lenders with the lowest rates and fastest closing times.
Mortgage brokers can get lower closing costs.
Mortgage brokers will take your loan request to multiple mortgage lenders to identify the lowest closing cost and the lowest interest rates for your loan request and will close your loan.
Mortgage brokers can provide better customer service.
Institutional mortgage lenders and banks use a workflow process to originate, process, underwrite, close, and fund your loan request. This means that there is not a single contact source that will maintain and manage the work load.
Using a mortgage broker means you will have one single point of contact for the client to communicate with through the loan originating and closing process. This approach to loan originating saves a lot of time and reduces stress to the client.
Mortgage Broker’s Automated Online Mortgage Pre Approval
Using a mortgage app like EquiFund Mortgage, clients will eliminate the human error of overlooking loan programs that offer maximum loan savings and lowest rates and fees.
Automated online mortgage pre-approval app generates your loan request with out having to pay high commissioned loan originators. This cost savings is passed to the client in the form of a lower interest rate mortgage loan.
EquiFund’s mortgage app maximizes home buyers purchasing power for free.
EquiFund’s mortgage app lets clients obtain mortgage pre-approvals online within 3 minutes. More importantly, the mortgage app will match the clients loan request to the mortgage lender with the lowest rates and closing cost within minutes.
EquiFund Mortgage efficiency lowers the cost of mortgage loans by approximately 1% in interest rate on a 30-year fixed rate mortgage loan. For example, on a purchase price of $ 450,000 the average home buyer gains an extra $ 44,000 in loan amount for the same payment as an interest rate 1% higher.
Author: James J. Hammond. NMLS# 190210, Jacksonville, Florida