Q: My bank where I have my checking account knows me. Isn’t that an advantage?
A: There’s almost no advantage in going to your bank. Even though your bank may know you and have some of your information, every loan must go through a strict list of current information due to lending regulations. So, your bank will request all the same information as any other lender. These days, the loan will not usually be processed locally, but at a large processing center. I can look for the best loan rates for you, and we can compare. Shoot me an email.
Q: I'm working with a lender and already locked in my rate. Can you still help me?
A: Probably. Borrowers have called MFC throughout the loan process asking for help. MFC can tell you if we can help obtain a lower rate and fees. One borrower called when loan documents were being sent, asking for help. MFC helped the borrower find the best loan rates, and reduce their fees $4,000 on two different refinances. Call us today.
Q: Although I was offered a lower rate, the lender is now making me take a higher rate. Can you help?
A: I hope so. I have helped people in this situation, but it doesn’t always work. My goal is to find you the lowest mortgage rates and best loan rates. I can check it out for you at no charge. Call me.
Q: I already have a lender that I've used for many transactions. Why should I use you?
A: For 5 minutes of your time, MFC can tell you if the rate and fee offered by your lender is the best mortgage rate or not. So often, the rate may sound good, but MFC often has access to programs and extremely competitive rates and fees that you may not be aware of. Let’s see if we can even help you obtain a lower rate with your existing lender. Call us.
Q: I’m a first time homebuyer, and there are so many lenders! How do I know which lender to choose?
A: MFC has relationships with community banks, big banks, mortgage companies, credit unions, boutique lenders, brokers, online lenders, and other lenders. We help you navigate and narrow the choices to a few, based on quality of lender, lowest rates, and track record to find you the best loan rate. Give us a buzz.
Q: I found an Internet lender that is offering a great rate. Why shouldn't I use them?
A: If you're purchasing a home, it is better to use a local lender, who is familiar with your community’s laws. For instance, if you are buying a condominium, local lenders have experience dealing with HOAs (Home Ownership Associations) and resolve issues and paperwork faster. In addition, having the ability to drive to a lender, meet them face to face and hand documentation to them can be the difference to funding the loan or not. We find the lowest mortgage rates out there. Call us.
Q: Do I need to provide detailed income information to Mortgage Fee Coach?
A: No, MFC does not need this information. That will be provided directly to the lender. Email us with your basic information. We’ll still be able to find the best loan rates. Shoot me an email.
Q: I don't know when to lock the rate. Do you help me with it?
A: Yes, at the Mortgage Fee Coach, we provide you with education and suggestions for when to lock, and when to walk. MFC has 25 years of experience watching rates, analyzing trends, and helping borrowers to take advantage of the lowest loan rates at the right time. Call us today.
Q: My home appraisal from my lender was lower than expected. What should I do?
A: Call us! Just because one lender receives an appraised value from their appraiser, doesn't mean another lender will receive the same value. They all use different appraisers. One of our clients received an appraisal $16,000 higher by one of our suggested lenders, saving the borrower from having to pay down the principal by $13,000. They also obtained a .375% lower rate, saving them thousands of dollars over the life of the loan because of the lower loan rate. Send us an email.
Q: A lender denied my loan. Can you still help me?
A: Maybe. Each loan is different, so there are no guarantees another lender may approve the loan. But, we know a lot of lenders with all levels of loan standards. Oftentimes, borrowers that have applied at a strict lender need to apply at a smaller, less conservative lender. We know less conservative lenders that still have the lowest loan rates. Drop us a line.
Q: How do realtors benefit from your service?
A: Realtors benefit because MFC saves them time, and the realtors’ closing rates are generally higher because we educate and help the borrower through the loan process. The realtor does not receive any money from the lender or from MFC. The realtor is less involved in their clients’ loan process —such as helping them compare loan programs, rates, fees, etc. — and more involved in finding the best home for their clients. MFC connects happy homebuyers with quality, veteran loan officers at lending institutions with the best loan rates. Call me.