Posts

No Lender Fees & Lender Credits = Higher Rates; No Free Lunches

We recently had a Texas borrower almost leave us for a competitor that was offering “no lender fees, no appraisal fee and a small credit for closing costs.” Fortunately though, the borrower sent us the “Loan Estimate” from the competitor and we were able to see that the competitor was charging a higher rate. In […]Read More

Competing With Builder Financing – False Enticements & Lender Credits!

Most new home builders offer large credits to buyers who opt to use the builder’s preferred mortgage company. The credits come in the form of interior “upgrades” (better floor coverings, cabinets, appliances, etc.) and/or in the form of closing costs. Sometimes the builders’ offers are very competitive b/c the builders are willing to “give away […]Read More