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Home Mortgage Company


Loan Assumptions


Specializing in Conventional, FHA and VA programs!
Our Fees

Shopping for a mortgage can be a very confusing task. Here is a quick lesson on the ins and outs of comparing mortgages from one company to another.

Click here to see our pdf Closing Cost Estimate Worksheet

There are two basic things that everyone shops for: RATE & FEES!

Rate:
When shopping rate, it is important to understand the majority of companies have access to the same rates. Therefore, if it sounds too good to be true, it just may be! A good benchmark for rates is to look at what the large banks are offering. If a rate is within their "range", it is probably accurate. The reason small companies can offer lower rates than large banks is because smaller companies have less overhead making profit margin lower.

Fees:
The information below breaks out just how to read a closing cost estimate:

In summary, the only fees that should vary from company to company are lines 800-899! It is also important to remember that the lenders may pay a Yield Spread Premium to the mortgage company which is indicated on line 817 above (Line # may differ on all GFEs) and the borrower IS NOT responsible for this compensation.

After all your shopping, you need to feel comfortable with the rate/fee combination you are getting!

Click here to see our pdf Closing Cost Estimate Worksheet