Thursday, June 26, 2014


Did you know that on a $400,000 loan a .25% higher interest rate costs a borrower an extra $20,915 over the course of their loan?
Having worked for large banks and mortgage bankers at the beginning of my mortgage career I saw how rates are marked up to make up for high overhead.  I have eliminated that! 

  Being the sole-owner/originator, combined with very low overhead and margins, I am able to save my clients up to .25% or more on their rate (with same fees as my competitors)!

If you would like a loan comparison for yourself or a client I would greatly appreciate the opportunity to offer a fee worksheet.

"Don't Overpay For Your Mortgage"

Bob McCormick, President


14362 N Frank Lloyd Wright
Suite 1000
Scottsdale, AZ 85260

Office: 480.905.1135
Fax: 888.570.6740

23 Corporate Plaza
Suite 150
Newport Beach, CA 92660

Office: 714.362.4740
Fax: 888.570.6740

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Wednesday, June 18, 2014

Update on Heloc's and Second Mortgages and conversion to fully amortizing payments in 2015

Update on Heloc's and Second Mortgages and conversion to fully amortizing payments

A lot of second mortgage loans (Heloc's) were taken out in 2005 and have interest only payments for the first 10 years then they fully amortize for the remaining 10 years (20 year term total).

In 2015 a loan payment on $100,000 second mortgage may go from $300 per month to $1,000 per month!

With home values higher now and interest rates lower we have seen more activity in combining these two loans into a low fixed rate first mortgage - Taking the risk and "payment shock" away.

Feel free to contact me with any questions.


Bob McCormick, President

In-House Bridge Loans Available (purchase before selling and remove contingency)

Mortgage Quest a dba of McCormick Lending Group, Inc. We offer In-House Bridge Loans for borrowers who want to purchase a new pro...