So you want to get the best deal on a mortgage and you want to make sure you get the best interest rate on a mortgage.
Well, how do you do it on this Website I'm going to give you three quick tips to make sure you know how to get the best the interest rate on a mortgage and to make sure you get the best deal on a mortgage period.
1. How Do You Make Sure You Get The Best Interest Rate And How Do You Make Sure To Get The Best On A Mortgage.
One is understanding that what numbers the lender's control or the bank.
They don't control when you get a worksheet or a loan estimate 98% of the cost that they're estimating they do not control.
Really pretty much all of it so the first thing to understand is that it doesn't matter what a bank or lender shows you is your cash to close because they're really just guessing and there's a lot of pressure on banks and lenders and mortgage brokers to estimate those costs as low as possible.
The only thing that matters when you pick out a lender is the interest rate and the lender fees when you're evaluating the cost and what all the lender fees that are processing for you.
Admin fees, underwriting fees, they're going to be listed at the top and you're going to pay those fees and they will add to what your cash forecloses.
What we do to make it simple at the Robinson mortgage team as we waive those charges on the loans that we close you'll not pan underwriting fee you will not pay a processing fee, or an admin fee, those fees will be zero.
It makes it much much easier to analyze if we're giving
you a great deal or not.
2. How Do You Make Sure You Get The Best Interest Rate?
I mean every single buyer's asking how I get the best interest rate. well, one is to understand that banks lenders and mortgage companies pray that you're outgoing to ask that question because they know the numbers better than you do.
When you see a really low-interest rate advertised on TV and there's a fine print written underneath.
Well, those are conditions and extra fees and cost to get that rate.
The easiest and the best thing to do for just get an idea of what interest rates are.
So that you know is what somebody's telling you makes sense for instance if you ever shop for a car. I was looking at Twitter for runners you get a good idea of what brand new Toyota 4runner is cost and if somebody suddenly tells you that they have a brand new one $1000 cheaper.
You're going to say no way why is this one less expensive. but with interest rates for some reason, people don't understand that if somebody is advertising a way lower rate then everyone out there there's probably a reason why I call it hunting the unicorn.
Lenders are praying that you'll go out through the unicorn because they know it doesn't exist it's all marketing to get you started.
One check with your bank you can look online I like bank rate.com and you can get a feel for where rates are right now.
That's the first thing to do if you go to bank rate.com you'll notice the first three or four vendors will have ridiculously low rate but if you keep reading ten fifteen lenders you'll get a fill okay why are these three banks so much cheaper than all the others and the truth is they're not it's just that they're better at marketing.
They understand that you're going to make a decision based on the interest rate when really you want to look at the whole loan the terms the cost not only how hot and how easy it actually did to get the loan but also the interest rate.
Number 2 is to get a feel for where rates are F you want a lender that's a low-cost lender very competitive on the rate but doesn't have a lot of fees and expenses.
We do it the Robinson mortgage team make sure you get a rate under what the market is and pay no lender fees that way you know you're getting a great deal on a mortgage.
3. how to get the best interest rate and the best deal on the mortgage
Probably the most important step once you make sure you've got understand the fee and you understand how to make sure you get the best interest rate and really just get the best deal on the mortgage.
You want to make sure you're working with someone that can actually get you quote.
There are plenty of companies that are taught to get everybody started they don't care you closes who closes on time and that can get expensive things about what contract extensions also with rate lock extensions.
So what do you do one don't look at the company look at the person that you're working with the individual loan officer is the one that will dictate how the process goes for you.
With this incredible tool called Google, you can actually Google the name of the person that you're working.
Not just the company Google in Wells Fargo doesn't help you google the name of the person and see what people are saying the big thing was online is you can't hide if you're doing a bad job or if you're not doing a good job you're going to find out.
When people are happy they talk when people are upset they talk so the third thing is to Google the person that you're working with and see what everyone else is saying what it is to work.
Work with this person because at the end of the day that person is not only going to dictate your cost and your interest rate are also going to be the one to make sure that you close on time without a bunch of drama as promised per the contract which is going to save you the most amount of money.
There you have it three quick easy tips one to make sure you get the best interest rate no mortgage until you get the best deal on a mortgage.
I mean really it's about getting the best overall deal on a mortgage.
Wworking with somebody that's not only going to give you a good rate and low fees and no fees like we do that actually gets you too close on time is a problem.
There are big decisions all the way through like to - or the appraisals do what management company should you be floating your rate or locking your rate which can cost you a fortune if the person you're working with is not in touch with exactly what rates are doing and what the real estate cycle doing in your local market.
And more than ever you need to work with somebody they can get you from point A to point B as simple and easy as stress-free as possible the mortgage the process has continued to get tougher and tougher over the years and we are experts are bringing through that process.
So do your research Google me check me out I would love the opportunity to quote you on your next mortgage.