Online Mortgage Quote

With access to some of the Nations top Lenders and 100’s of Loan Programs to choose from, I have a loan for just about every financial situation. Whether you are looking to Refinance, Purchase a new home, take Cash-Out, or are looking to build your own Dream Home with a Construction Loan, No Problem! Let me do the Shopping for you on your next Mortgage Loan.

Together, you and I can review your present situation, discuss the advantages of your loan, and find the option that works best for you and your family.

Below, you will find some useful information that was put together by a group of Mortgage Professionals from www.brokeroutpost.com . Enjoy, and I look forward to speaking with you soon!

Be cautious when applying online - Many websites appear to be mortgage brokers or bankers when in reality they are lead providers: companies that collect your personal information then provide it, for a fee, to mortgage companies.

If the website where you are applying advertises a specific loan officer, it is probably safe to fill out that application. You can reasonably expect that your application is actually going to that loan officer, who will be contacting you sometime afterward.

Do a little research about a company before applying in person, on the phone or online to find out what kind of company you are dealing with. Try searching state licensing records, the Better Business Bureau and possibly even the state Attorney General's Office to see if there are any major complaints against the company or just to make sure they are indeed a licensed and legal company. This is the same advice for applying for any type of loan, credit or anything.

When applying online, pay special attention to the company privacy policy. The privacy policy should explicitly state exactly what your personal information will be used for. Be wary if the company plans to resell your information, or if the company doesn’t have its privacy policy available on its website.

The lure of many lead providers is that they will “shop around” your loan and the competition will lead to an overall cost savings. These companies do not tell you that in addition to the cost of the lead to the broker, the lead provider may charge an additional $1,500 if the loan closes. The end result is often an increase in the overall cost of your loan.

One way to determine if the site is being ran by a legitimate mortgage broker rather than a lead provider is to verify the company’s license through their state. Most states allow consumers to access online lists of properly licensed mortgage professionals.

The information you give lead providers is often resold to 15 or more brokers. Often, this results in a flood of unexpected telephone calls. It can sometimes take weeks before all of the brokers quit calling.

Lead generators are companies that sell loan applicants' information to mortgage brokers, bank loan officers, and other lead companies for a profit. Their business model is not to provide actual mortgage services to the loan applicants. To avoid your information being sold, re-sold and be called on for the next year to come, upon the initial contact, ask the mortgage company if they would sell your information to others.

Although many websites say that lenders compete for your loan, lenders pay for every potential borrower whose information they receive. Lenders pay several hundred dollars for information from several potential borrowers in order to complete one loan.
This limits how low they can go on fees and rate when competing for you loan.
When you contact individual companies or loan officers, the cost to them is nothing, so they have more flexibility.

Often when you apply online your information is resold several times over. It is often more prudent to contact a broker and have them work up a loan for you versus applying online.

Online Property Value Estimators - Online value estimation sites are a good way to get an "IDEA" of what your home may be worth if you were to sell your home. You need to keep in mind that these estimates are based off of tax records and recent sales. If the tax records and sales databases are not up to date, then your value estimation could be off by a substantial amount. The reverse holds true with over valued estimates. These are tools for information purposes only and should be used only as such, and not used as a determination of actual value of your property.

The only way to determine the value of a property, is by using a licensed real estate appraiser. The value that the appraiser gives is based on their physical inspection of the property, as well as nearby comparable sales. For most home loans, an appraisal performed by a licensed appraiser is required in order to fund the loan.

A major component in calculating the value of your home lies in the condition of your home and the condition of the comparable homes being used to compare your home to. An online property value estimator can not take the condition of your home or comparable homes into consideration because it just gives you a simple estimate based on basic county sales information.