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The Best Rate Is Not
Always The Best Deal!
Don't Pay Extra To Get A Low Rate
We are constantly bombarded with radio, TV and Internet ads, offering "the lowest interest rates" for mortgages! I think it is pretty amazing that so many lenders want to be so nice to us.
Truth is; Good rates are important, but they're not always the most important aspect of securing a mortgage. Perhaps more important than the rate is a program that fits your personal circumstances at the right price! If you have to pay a lot of extra money to get a low rate you may never recover the associated costs. This is a great example of "Best rate, not the best deal!"
Most borrowers change mortgages between three and five years. They move or they refinance. If you pay an extra $2,000 in costs or points for a $200,000 mortgage to reduce your payment $30 per month, it will take almost six years to hit the breakeven point on this investment. You may want to use the $2,000 for something else!
Some mortgage loans have appealing low rates, but come with major costs. Determine if there is a chance that you will need to redo or payoff your loan in a relatively short period of time. If you have to pay extra at the beginning or end of your loan, it may not be a good deal. I will help you analyze such aspects of your mortgage transaction to ensure you conclude a logical strategy.
Please be careful so that you, “don't pay extra to get a low rate."
First Home - Existing Home - Second Home - Dream Home?
Call Sam Coleman and Pre Qualify For Free!
Do The Mortgage Right! Always Call Sam!
1-866-SAM-4-YOU
(1-866-726-4968)
Mortgage Update
"The Best Rate Is Not Always The Best Deal!" Always Call Sam!
1-866-SAM-4-YOU (1-866-726-4968)
1-866-SAM-4-YOU (1-866-726-4968) Sam Coleman
Home Loan Specialists, Inc.
Most of the time, it is ok to float your rate until a few days before you close your loan unless you think rates will go up in the near future. Once you lock your rate, most lenders do not allow any changes. Shorter locks often offer better rates. Longer locks almost always come with a higher rate or cost. Don't stress with this part of the process!
It is simple! When you become prequalified, you and your Realtor will identify an affordable price range. This will allow you to concentrate your home search effort to the right properties. This is a great time saver, plus sellers love qualified buyers! This is a key step in the home buying process.
Why Pre Qualify?
Should I Lock Or Float?
Sure, I am around during regular business hours, but to help out so that you don't have to miss work to obtain your loan, I schedule meetings and phone consultations on nights and weekends! No two clients have the same set of circumstances and this flexible scheduling makes for relaxed knowledge sharing.
Nights & Weekends Too!
A Division Of Mortgage 1. Inc.
Our mission is to provide mortgage loans with the speed of a banker, the flexibility of a broker, and the best possible customer care.
Sam Coleman - Michigan Loan Officer License 66789Home Loan Specialists, Inc., Corporate Offices
Home Loan Specialists, Inc., Corporate Offices 135 E Main St., PO Box 132, Manchester, MI 48158 36139 Schoolcraft Rd., Livonia MI 48150
Phone 734-428-8944 Fax 734-527-6114 734-524-0400 Fax 734-524-0600
734-524-0400 Fax 734-524-0600
"The Best Rate Is Not Always The Best Deal!"
HARP 2.0. Watching For Possible Help To Lower Your Rate Even If You Are Upside Down on Your Mortgage Loan! Call Me!
