Tag Archive for: rate quote

How To Read a “Loan Estimate” (LE); Where and How To Look

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I received numerous requests to put together a breakdown of how to read an upfront Loan Estimate (LE) as a reference to help analyze quotes or LEs from other lenders to: (1) avoid surprises; and (2) learn how to accurately compare LEs. So, I asked JVM’s Senior Managers to list out what everyone should watch for, based on what our team has learned from reviewing thousands of Loan Estimates. The below info is what they put together. I should add too that the blog is actually very short, but only appears long because of all the screenshots.Read More

Why Do We Quote Rates With Points – When We Dislike Points?

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On Tuesdays, we send out an email to our entire database that says “What’s Going On With Rates?” And – in that email, we share numerous rate quotes – and […]Read More

5 Misleading Rate Quote Tricks To Watch Out For!

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This is a surprisingly common occurrence: A buyer comes to us with a ridiculously low rate quote from another lender and insists that we match it. We then ask to see the Loan Estimate (LE) that sets out all the fees. And – invariably, we find $10,000 of points or origination fees buried in the loan. The confused buyer, however, thought she was getting a “no cost” loan. Read More