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Friday, March 9, 2018

"Don’t Overpay For Your Mortgage"

Mortgage Quest Logo

It's Pretty Simple: Low Overhead + Low Margins = Low Rates


Seventeen years ago, after working for large banks and mortgage banking companies, I figured out how to operate a mortgage company utilizing a business model which allows us to offer ultra-low interest rates for our clients.  As the owner I control our pricing model which keeps our rates generally .25-.50%+ lower than the competition!  Also, we are able to offer free and unlimited rate floatdowns after a loan is locked ensuring the lowest rate possible for our clients.

To see how we operate differently visit us at:



Call Toll Free 800 328-0144 or
Email  McCormicklending@gmail.com

Bob McCormick, President

Lending in Arizona and California 


nmls 175743 azmb 0903631  cadbo 603J043 Equal Housing Lender

Thursday, March 8, 2018

Cross Collateral Loan Program

Mortgage Quest
a dba of McCormick Lending Group, Inc.

Even though our business model focuses on offering interest rates generally .25-50% lower than the competition we now also offer this loan option to help our clients secure financing:
Cross Collateral Loan Program
This program allows our clients to use the equity in their current home to purchase or construct a new home by obtaining ONE loan against the new property and the existing property combined.  When the existing property is sold and the principal balance is reduced the exisiting property is released and the loan is re-amortized over the remaining term; No refinancing is needed!
  • ONE loan, which is secured by the new property and current residence
  • May be able to borrower up to 100% of the new home and closing costs
  • Provides ability to make a non-contingent offer


Feel free to contact me or visit us at www.McCormickLendingGroup.com 

Bob McCormick, President

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Toll Free 800-328-0144
Email  McCormickLending@gmail.com
 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


AZMB#0903631 / CFL #603J043 /  NMLS #175743

Toll Free: (800) 328-0144 Fax: (888) 570-6740


Equal Housing Lender   

Tuesday, February 27, 2018

New Program! Fannie Mae Loan Limits in Arizona to $679,650! (Compare to Jumbo)

Mortgage Quest
a dba of McCormick Lending Group, Inc.

Even though our business model focuses on offering interest rates generally .25-50% lower than the competition we now also offer this loan option to help our clients secure financing:
Fannie Mae and Freddie Mac Loan Limits to $679,650 in all of Arizona!

  • Min 680 FICO
  • Max 80% LTV/43% DTI
  • Eligible for primary and second homes
  • Lower rates, easier guidelines, and fewer docs than Jumbo

Feel free to contact me or visit us at www.McCormickLendingGroup.com 

Bob McCormick, President

 Loading


Toll Free 800-328-0144
Email  McCormickLending@gmail.com
 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


AZMB#0903631 / CFL #603J043 /  NMLS #175743

Toll Free: (800) 328-0144 Fax: (888) 570-6740


Equal Housing Lender   

Wednesday, February 14, 2018

Self-Employed Borrowers- Qualify Without Tax Returns!


Mortgage Quest
a dba of McCormick Lending Group, Inc.

Even though our business model focuses on offering interest rates generally .25-50% lower than the competition we also offer these loan options to help our clients secure financing:

*Utilize Business Bank Statement Deposits For Income (No Tax Returns)

*Borrowers Over 62 Years Old - Utilize a Reverse Mortgage (Minimal Income Needed)

*Liquid Assets In Lieu Of Income For Qualifying (Asset Depletion Formula Used)

*No Income Verification For Rental Property Loans


Feel free to contact me or visit us at www.McCormickLendingGroup.com 

Bob McCormick, President

 Loading


Toll Free 800-328-0144
Email  McCormickLending@gmail.com
 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


AZMB#0903631 / CFL #603J043 /  NMLS #175743

Toll Free: (800) 328-0144 Fax: (888) 570-6740


Equal Housing Lender   

Tuesday, February 13, 2018

How We Can Offer Our Clients .25%-.50% Lower Rates Than The Competition (With The Same Or Lower Fees)!

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Having worked for a few of the large banks and mortgage banking firms prior to starting Mortgage Quest in May 2000, I learned how and why these mortgage companies need to mark-up their rates that are offered to the public: large overhead expenses including office salaries, commissions, large rent/office space, several layers of management, extra quality control costs due to large staffing, etc.

Mortgage Quest was established with a business model that has reduced these large expenses so that our operating margins are the lowest in the industry and the need to mark-up interest rates was eliminated:

By being the sole-owner/ loan originator for Mortgage Quest our pricing model is the lowest in the industry. Generally saving our clients up to .25% - .50% or more on their rate versus the competition with the same or lower fees!




Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender

Friday, February 9, 2018

Shopping rates? Why the APR is the most important rate


Mortgage Quest
a dba of McCormick Lending Group, Inc.

What is the difference between a mortgage interest rate and an APR?

An annual percentage rate (APR) reflects the mortgage interest rate plus other charges. 

There are many costs associated with taking out a mortgage. These include:

  • The interest rate
  • Points
  • Fees
  • Other charges
The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate. It does not reflect fees or any other charges you may have to pay for the loan.
An annual percentage rate (APR) is a broader measure of the cost to you of borrowing money, also expressed as a percentage rate. In general, the APR reflects not only the interest rate but also any points, mortgage broker fees, and other charges that you pay to get the loan. For that reason, your APR is usually higher than your interest rate.
If you have applied for a mortgage and received a Loan Estimate from one or more lenders, you can find the interest rate on page 1 under “Loan Terms,” and the APR on page 3 under “Comparisons.” 

Thursday, February 8, 2018

Low Cost 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 property prior to selling their current property.  Great rates, flexible terms and no upfront cost or monthly payment options available!  

Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona and California
"Don't Overpay For Your Mortgage"



mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender

Wednesday, January 31, 2018

With Rising Rates There Is No Need To Worry About When To Lock Your Rate!

Mortgage Quest
a dba of McCormick Lending Group, Inc.
Low Overhead + Low Margins = Low Rates

With Rising Rates There Is No Need To Worry About When To Lock Your Rate!

We offer the most flexible lock policy in the industry!
  We are able to lock the rate at the time of application and relock again if rates improve for FREE (unlimited relocks)!  This protects our clients from rising rates and allows them to obtain the best rate possible at closing.

If you have any  questions please let me know or if you have a client that would like a rate/fee quote on a mortgage scenario I would greatly appreciate the opportunity to offer one.

Contact me with any questions or scenarios 
 

Bob McCormick, President

 Loading
 
Toll Free 800-328-0144 
Email   McCormickLending@gmail.com

 
 Lending in Arizona and California 
"Don't Overpay For Your Mortgage!"

 
mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

Monday, January 29, 2018

Highlights of our Doctor Loan Program


Mortgage Quest
a dba of McCormick Lending Group, Inc.

Highlights of our Doctor Loan Program

*Must have a medical designation of: Medical Resident, MD, DPM, DO, DDS, DMD or OD

*Purchases and Refinances Eligible Up to 95% LTV

*Deferred Student Loans Can Be Omitted From Qualifying

*Income From Future Employment May Be Used

*Minimum 680 Fico Score

*Loan Amounts to $453,100

*No Private Mortgage Insurance 


Contact me with any questions or scenarios 

Bob McCormick, President

 Loading

Toll Free 800-328-0144 

Visit Us Here

 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043

Thursday, January 25, 2018

Highlights of our 95% ltv Jumbo Loan to $1,000,000


Mortgage Quest
a dba of McCormick Lending Group, Inc.


Highlights of our 95% ltv Jumbo Loan to $1,000,000

 *Up to 95% LTV
*90% LTV at 680 FICO

 *2 - 4 Multi-Family properties are eligible

 *Up to $1,000,000 loan amount

*Gift funds allowed with at least 5% borrower contribution from own funds 

*First time homebuyers permitted

* Private Mortgage Insurance can be waived


Contact me with any questions or scenarios 

Bob McCormick, President

 Loading

Toll Free 800-328-0144 

Visit Us Here

 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043

Bridge Loans Available (purchase before selling and eliminate contingency)

Mortgage Quest
a dba of McCormick Lending Group, Inc.



We offer In-House Bridge Loans for borrowers who want to purchase a new property prior to selling their current property.  Great rates, flexible terms and no upfront cost or monthly payment options available!  

Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona, California and Colorado

"Don't Overpay For Your Mortgage"



mb0903631 nmls175743 nmls179756 Cadoc603J043

Tuesday, January 23, 2018

How To Save Money With Higher Home Values

Mortgage Quest
a dba of McCormick Lending Group, Inc.


With Higher Home Values Borrowers Are Able to Utilize Equity And Pay Off Higher Interest Debt Saving $$$

  • Utilize Home Equity and Pay Off High Interest Credit Card Debt
  • How To Eliminate PMI
  • Convert your adjustable rate to a fixed rate
  • Utilize the equity in your home for home repairs/remodeling
  • Combine a first and second mortgage into one loan

If you have any questions or want to just make sure you are in the best situation feel free to contact me.

As always, I also greatly appreciate your referrals (family, friends, co-workers, etc) that may also have questions.   Thank you!

"Low Overhead + Low Margins = Low Rates"


Bob McCormick, President

 Loading


Toll Free 800-328-0144 


 Lending in Arizona, California and Colorado
"Don't Overpay For Your Mortgage"
Mortgage Quest, 14362 N. Frank Lloyd Wright , Ste #1000, Scottsdale, AZ 85260

Tuesday, January 16, 2018

Beat The Bank! How We Operate Differently and Save Our Borrowers Money

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Having worked for a few of the large banks and mortgage banking firms prior to starting Mortgage Quest in May 2000, I learned how and why these mortgage companies need to mark-up their rates that are offered to the public: large overhead expenses including office salaries, commissions, large rent/office space, several layers of management, extra quality control costs due to large staffing, etc.
Mortgage Quest was established with a business model that has reduced these large expenses so that our operating margins are the lowest in the industry and the need to mark-up interest rates was eliminated:
  • As the owner, I control out pricing model. Generally saving our clients up to .25% - .50% or more on their rate versus the competition.
     
  • We utilize the industry's most recent loan origination software and automation which helps make the loan process run extremely efficient and smoothly which keeps operating costs and margins very low.

If you have any questions please let me know or if you have a client that would like a rate/fee quote on a mortgage scenario I would greatly appreciate the opportunity to offer one!


Bob McCormick, President

 Loading
 Toll Free 800-328-0144 

Lending in Arizona and California


"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043

Wednesday, January 10, 2018

As the owner I don't "Pad" our rates for extra profit = Lower rates for our clients!

Mortgage Quest
a dba of McCormick Lending Group, Inc.


Having worked for a few of the large banks and mortgage banking firms prior to starting Mortgage Quest in May 2000, I learned how and why these mortgage companies need to mark-up their rates that are offered to the public: large overhead expenses including office salaries, commissions, large rent/office space, several layers of management, extra quality control costs due to large staffing, etc.


Mortgage Quest was established with a business model that has reduced these large expenses so that our operating margins are the lowest in the industry and the need to mark-up interest rates was eliminated:


By being the sole-owner/ loan originator for Mortgage Quest our pricing model is the lowest in the industry. Generally saving our clients up to .25% - .50% or more on their rate versus the competition with the same or lower fees!



Bob McCormick, President

 Loading


Toll Free 800-328-0144 

www.McCormickLendingGroup.com

 Lending in Arizona and California 

"Don't Overpay For Your Mortgage"

mb0903631 nmls175743 nmls179756 Cadoc603J043  Equal Housing Lender

Friday, January 5, 2018

Market Leading Rates / Unlimited Free Rate Floatdowns / In-House Bridge Loans


Mortgage Quest
a dba of McCormick Lending Group, Inc.

A Few Benefits That We Offer:

As the owner I personally control our pricing model.  This enables us to offer market leading rates, generally .25-.50% lower than the competition!

We hedge our lenders and investors so we are able to lock in the rate upfront to be safe, but we can float down the rate for FREE if rates improve throughout the process enabling our clients to obtain the best rate possible!

We offer In-House Bridge Loans for clients who want to purchase prior to selling their current home!

 Loading

Toll Free 800-328-0144 

Visit Us Here

 Lending in Arizona and California

"Don't Overpay For Your Mortgage"


mb0903631 nmls175743 nmls179756 Cadoc603J043