Big Banks VS Mortgage Brokers

We have got a lot of calls recently from customers trying to get a lower rate through the banks they pay their mortgage to, and frustration is setting in. We find that most people call their current lender first because they do not know who else to call. Then they get the idea that they deserve special treatment as a result of their established payment history, thus making the process quick and painless.

Their current lender also piles it on, implying that because they have their current mortgage, the entire process will be easy. They claim there is limited documentation and the appraisal will not be required.

But this simply is not the case. Maybe this was true back when the Big Banks kept the mortgages on their books, but now everyone sells them to Fannie Mae or Freddie Mac so we all play by the same rules.

The striking part is the gap between our rates and the big banks has never been greater. Simply put, the banks are charging higher rates simply because they can.

Eventually, there is some point in the process that expectations set by their current lender to not get met and the troubles begin.

Most people are calling us because past clients have done a wonderful job in referring and we greatly appreciate that. You will continue to hear these stories from friends and family because the rates are so low. So call us to get the truth quickly as it could take forever with your current mortgage company. We are here to help!