Helpful Articles

• Rate Shopping
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• Should You TakeEquity FromYour Home?
• Understanding Interest Rates
• Bank vs Mortage
• COFI
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• Raise Your Credit 100 Points in 45 Days
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• Financial Tips
• Hard Money Loans

Most people will check the Internet or pick up the newspaper to look up current interest rates. What you see isn’t always what you get. Unfortunately, there are many ways to get hurt when shopping for the best rate:

Short Pricing –It is not necessary for lenders to state the “lock-in” duration when advertising a rate, so while a rate may sound good, it may not allow enough time for you to close on your loan. Most people don’t ask how long the quoted rate is guaranteed for – so make sure you do!

Low Ball Pricing – Some companies will lure you into a mortgage application with promises of low rate only to have the rate changes for the worse just before closing. They may tell you your rate has expired, the program is no longer available or even delay the closing to break the lock. It is not nearly as important to shop rates, as it is to shop for a reputable lender.

Products – With all the different products and options available, borrowers need a good mortgage professional to help the choose the right one that will best suit their needs and goals. After all, a mortgage is typically the largest financial transaction people make in their lifetime. It is far more costly to get the best rate on the wrong product that it is to get a competitive rate on the right program for you.