Shopping for a mortgage can be a very confusing task. But working with First Lenders Mortgage, our goal is to eliminate that.

Click here to see our pdf Good Faith Estimate

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. The only difference that can vary is what each lender will “charge you” in order to get that interest rate. There are numerous ways a lender can ”make up the difference” .Many times, 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 smaller companies like First Lenders Mortgage can offer lower rates and fees than large banks is because smaller companies have less overhead making profit margin lower. We work on volume and referrals so we price our loans to the bare minimum to keep our clients happy and always coming back. Often times, because of principle, we have lowered our fees greatly just to hopefully gain a client for life. All we ask is to offer us the opportunity to match or beat what you have in writing.

Another benefit with working with us is Flexibility. We do not have to get a “manager or supervisors” approval to match or beat another lender. We can make that decision right on the spot which is especially important if the current market is fluctuating greatly and we have to move right away to lock and protect your interest rate.

Fees:

As you can see our ONLY fee we charge is a $350 processing fee. We have NO other fees. The only other fees are third party fees which are your standard fees on a typical mortgage transaction. Example: Title Insurance (state mandated by loan amount), Recording fees (determined by county),establishing your new escrow(property taxes), and investor charges (depends on investor). Appraisal fees are now determined by the lenders which normally is $395 for a single family home.

We even have good relationships with our title insurance companies that extend us low rates/fees that we pass on to our clients for even more savings!

Most people should know that the only true way to shop lenders is to compare Good Faith Estimates. But for some reason most people do not want to share good faith estimates with a lender that is trying to match or beat what they are being offered. That is only doing the client an injustice. You heard the phrase, “When Banks Compete You Win”. Banks cannot compete with “quoted rates” from a customer. They need to see exactly what it is being charged to you in return for the interest rate being given to you in writing.

We at First Lenders Mortgage realize that we cannot beat ALL lenders ALL the time. That is why we offer a FREE NO OBLIGATION Good Faith Estimate Analysis Option that we offer to all people looking/searching for the best rate and cost. Even on occasion when we cannot beat a certain rate, we still review that person’s GFE and always save them money on fees that they should either “question” or “negotiate” with that particular lender. It’s all about the customer getting the best deal available even if sometimes it is not with our company. Either way you win with working with First Lenders Mortgage. We will save you money either way. That’s a promise!!

Don’t for get to check out our “Inside Lender Pricing Matrix” on the bottom of our company website that breaks down how Fannie Mae and Freddie Mac determine pricing for your individual scenario!