Tuesday, January 24, 2017

Lower Margins = Lower Rates For Our Clients!

Mortgage Quest
a dba of McCormick Lending Group, Inc.

After reviewing the rates that are offered by several banks, mortgage banking companies and direct lenders we have noticed that our offered rates with Zero Closing Costs (No appraisal, underwriting, processing, title fees, etc.) are generally even lower than the competition's rates, even with they charge over $2,500+ in fees and costs!

As I have mentioned before, these extra "fees" and "costs" are ultimately charged to the consumer via a higher rate or fees/costs by the lenders for extra profit as they have much larger overhead costs than we have (compensation splits with loan officers, office staff salaries, high rent, etc...).

All mortgage lenders offer the same main product - the 30 or 15 year fixed rate mortgage.  The rate and costs that the consumer pays is 100% dictated by the bank or lenders pricing/profit/compensation model.

This is why it is important for borrowers to compare rates with several lenders, as after the loan transaction closes it is the borrower who will be making the monthly mortgage payment.....not the bank or lender.

Bob McCormick, President


Toll Free 800-328-0144 
Email:  MortgageQuest@Cox.Net

 Lending in Arizona, California and Colorado

"Don't Overpay For Your Mortgage"

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