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Tips to avoid BAD mortgage offers
Sadly, comparing Texas Mortgage Refinance loans isn't always easy. Some TX loan offices are straightforward and up-front. Other aren't.
Here are some things to think about and questions to ask:
- are you being quoted interest rates and fees for your situation that are at either extreme--either way too high or way too low?
- when you ask questions, do the answers sound reasonable and truthful or does it sound like you're just being told what the loan office thinks you want to hear?
- have you verified the information you're given elsewhere from another trusted source--another loan office, a trustworthy website, etc.?
- if you're quoted interest rates and fees lower than local Credit Unions (which are non-profit), how likely is that a REAL offer??
(As buyers of any service or product, sometimes it's human nature to only want to hear what we want to hear. But that's how the Bait and Switch people stay in business.)
Successful shoppers of Texas Refinance Mortgages are just as concerned over fees and interest rates that are too LOW as of those that are too high!
For Texas mortgage pre-qualification, click on:
Texas Mortgage Refinance
More about avoiding Bait and Switch offers
Most Texas Refinance Mortgage loans are sold to Freddie Mac and Fannie Mae or underwritten to their standards. Since there are generally 2 purchasers / insurers of these mortgages (called Conforming Loans), the differences between Wholesale Lenders is very small.
Many days, only .125% in interest rate separates lenders. So how can loan offices undercut most rates by .375% in interest rate, while NOT charging a loan origination fee and no discount points??
I often see offers like this, resulting in the loan office earning $0.00 for all the work on your loan. Do you know many people who work 40 hour weeks for $0.00? I don't either.
Again, wise Texas Mortgage Refinance shoppers are just as concerned by mortgage offers which are too good to be true, as they are of uncompetitive refinance offers where the loan office is trying to get rich off their transaction.
For example, who wants to pay today's prices for gasoline? But wouldn't you be suspicious if you saw gas selling at half price?
Sadly, when borrowers fall for these "bait and switch" offers, by the time they realize they aren't getting the refinance offer promised, it's too late. They either have to accept the "real offer" or start all over with another lender!
Texas Refinance --browse my website pages which help you SAVE with a refinance (or when buying a home).
For TX home loan pre-qualification, click on: Texas Refinance
For any questions, please call or email me. You can email me by clicking : here.
You can reach me by calling (direct line): Paul Marshall
(214) 891-9626 or Toll-Free at 1 (888) 265-7830.
Telemarketer Sales Calls Not Accepted.
Common misspellings / typos for words searched for on this page: morgage, morgages.
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