|
The advantage of
our pricing policy is that we apply any rebate of discount fees to your
closing costs, fully disclosed, not to our income on an undisclosed
basis.
There won't be any surprises at the
Closing, in general, nor specifically over how much we were paid to work for you. You get to select your rate right from the Investor's Wholesale rate sheet, because we don't mark up, or retail, the interest rate.
We are basically a shopping service for you: we find and forward to you the rates and prices for your loan from a broad selection of investors, and show you how the options will help or cost you.
When you borrow a mortgage loan, you'll have to pay closing costs that are fees to service providers. The first component of those fees will be the origination fee and/or processing-service type fees paid to the Originator, and any discount and/or underwriting-service type fees paid to the Investor. The second component of fees are those paid to the providers of various qualifying-type confirmations, from your credit to the title and value of the house. The third component is the "Prepaids", interest, insurance premiums and deposits, and tax deposits that will be used on your behalf over the life of the loan. These costs can be "covered", in part or in whole, (a so-called "no fee" rate, or "no closing costs" rate) by choosing a higher interest rate on your loan, that pays, or rebates, the discount fee.
The advantage of our pricing policy is
that we apply the rebate to your closing costs, fully disclosed, not to
our income on an undisclosed basis.
We fully state and disclose our origination fees, so it's very clear how much you're paying us. We will cap, or limit, our fees to those stated on the
locked Good Faith Estimates we provide,
so if rates go down, you'll get the full advantage of the better
pricing.
No hidden fees, you're in control,
guaranteed service and guaranteed costs.
|
