Eden Prairie Mortgage, Eden Prairie Broker, Mortgage Broker
Home buyers used to be at the mercy of the banks and shady consultants when it came to mortgage rates, but the United States government has levied stricter controls on those in the mortgage broker profession to try and get them to clean up their act. At best, these professionals have the skills, experience, and resources to put together the best possible mortgage packages for their clients. Unfortunately, the reputation of brokers has been tarnished, and many people are skeptical about using them.
There are countless reasons why Mortgage Lending through your Bank may cost you Thousands of Dollars, but in this article I want to cover in detail the number one reason the using your bank could cost you thousands of dollars.
I hope you know by now that the rate is not the rate when it comes to mortgage lending. Mortgage Rates can vary widely from bank to bank, depending on how busy they are, and if they are looking for that type of loan in their portfolio. From bank to bank there may be as much as .5% difference in interest rate would cost you $14,828 in additional interest on a $200,000 loan over 30 years. That is a lot of money!
An independent Mortgage Lender or Mortgage Broker has access to all of the bank rates from all of the local bank options as well as many large national banks that are not have local branches in your area. By being able to shop the market, you can rest assured you are getting the lowest available rate.
Mortgage brokers have large pools of lending institutions who are clamoring for business. Instead of you being forced into whatever terms a bank will offer you, the broker can move from lender to lender until he finds you the best possible mortgage.
This is truly unfortunate and a disservice to consumers, who now have less options and choices for their lending needs. The everyday person needs help. So we have put together a free report "7 Reasons Mortgage Lending from your Bank will cost you Thousands of Dollars" which you can access at http://EdenPrairieMortgageLender.com The additional 6 reasons are every bit as powerful and cost savings.
Eric Jacobson has 12 years experience working with banks and local mortgage companies. He has consulted and trained 100s of Real Estate Agents and Financial Advisers on best lending practices. He can be reached at: http://www.EdenPrairieMortgageLender.com
