In all my years of originating residential mortgages for Brokers to Banks, what is and always will be what sets lenders apart is; rate and fees. It doesn’t matter whether you are Joe Mortgage Broker or Bank of America.
All other costs of the mortgage such as appraisal, Title, Taxes and Insurance are going to be relatively the same from lender to lender.
So why would there be any big difference in rate and fees from one lender to the next?
Cost of operations
In the case of a broker or small lender, they don’t have the consistent volume to generate enough revenue in order to cover the costs of processing and to maintain a profit goal. So their fees will usually be the highest you will run across but, their rates will usually be competitive.
Now in the case of a large lender like a top bank, the issue is simply overhead. You see every large institution makes the same mistake when it comes to their mortgage lending operation, they get top heavy with management. Since being big comes with big costs, their rates are somewhat competitive and their fees will typically be somewhat high.
So why would anyone pay more for the same thing?
Social Behaviorist’s will tell you it is because of the fact that it is only a few hundred dollars or even a thousand more added to a loan of a couple of hundred thousand that is being paid over 30 years.
That is exactly the way these lenders want you to think so you will pay their higher fees or rates or both, so they can continue their inefficient operation!
Yet, I know all those people that overpaid for their mortgage would not pay One dollar more when shopping for a 42†Sony HDTV!
Don’t be an OVER PAYER!
Coming to my website is probably the single best thing you could have done for yourself if you are looking to purchase or refinance your home in the near future. Because now you truly know what is important in shopping for a lender, whether you choose to use it is up to you!
Stonegate Mortgage Corporation is a Private Mortgage Bank servicing the Midwest and located in Fisher, IN. I chose to align myself with Stonegate because they are committed to providing competitive rates and low fees. Additionally; they have an efficient operation that utilizes technology to make your mortgage process a smooth one.
M & I Bank, B of A, U.S. Bank, Heartland Bank, Bank Liberty, North American Savings Bank, Commerce Bank, First Federal Bank, and UMB. (And many others)
If you have quotes or have an application with any of these banks, you are paying more in rate, fees, or both than you would with me!
DON’T BE AN OVERPAYER!
Immediate conditional approvals.
24 hr underwriting turnaround on purchases.
Closing date guarantee.
So I encourage you to contact me via phone(816.820.4471), e-mail(jthompson@stonegatemtg.com), or use the link below to fill out a short application. Once we have discussed what you want to accomplish, I will provide you with the most cost effective way to meet your needs.
Apply online Short application (select my name “John Thompson†from the pulldown menu)
I am so confident in what Stonegate and I can do for you, I make this offer to you;
Send me any legitimate Good Faith Estimate from any other lender and I will beat their lender fees and match or beat their rate. Guaranteed!
