Who to Apply to for Mortgage-Refinance Help?

Who to Apply to for Mortgage-Refinance Help?

If you are buying, refinancing, taking out equity or getting into investment real estate, you probably are going to need a mortgage. In this case you need a good mortgage professional. Of course, you can apply to your local savings and loan since they can promise you low fees or no closing cost, but remember, that a good mortgage professional beats the bank on two major things – Interest rates and service.

In most cases if a banker promises you low closing costs, he probably will be making his money on the interest rate, and most likely he'll try to sell you on discounting that higher rate, by paying a percentage of the loan amount. This is a common tactic bank loan officers use, and it is a very poor strategy in almost every case for you to buy a rate.

Another thing about banks is that their service is much worse than the one that good and honest mortgage professionals offer. For example, a mortgage professional can lock your interest rate over the telephone, the day you call them for the first time. With banks you have to go through many exhausting operation before they finally do it.

The thing is that mortgage professionals are strongly motivated to give you the best service they can because they work strictly on commissions, unlike banks. So a mortgage broker will do whatever he can to make you happy, so you recommend him to your friends and relatives and come back to him whenever you need a loan. A good mortgage professional will treat you like his only and special customer. He will give you his personal cell phone number and will tell you to call any time it is comfortable for you. He will meet you wherever you set up a meeting – home, office, café, restaurant, park or any other location that is comfortable for you. He’ll go the extra yard to close your loan.

So, remember, you need a mortgage professional, when getting any kind of home or refinance loan. Be sure you get the best.

© 2010, Jericho Mortgage — Who to Apply to for Mortgage-Refinance Help?