I've been involved with home loans and refinancing for a few years now. I used to work for a large mortgage company and own over 11 rental properties. I've also tried almost all of the major online loan companies like eloan and others to compare rates (especially to refinance my income properties). And guess what? Most of them are not very competitive at all, except for the biggest online loan companies that you see on TV.
Most mortgage companies offer loans and broker them directly to banks, but these companies do neither. They arrange the loans through another broker, who sometimes sells the lead to a third company.
What does it mean to you?
Think about how much each of these companies is taking out of the loan as their cut. Talk about middlemen! By the time you hear back about the loan rate, you could have saved a few points and saved yourself thousands of dollars or years on your loan. Be sure to look online for third-party reviews of reputable companies and their interest rates. That's the best way to make sure you're getting the best rate, and since I learned all this, it's saved me tens of thousands of dollars.
Also, you should learn more about reputable online loan companies and little-known ways to save or make a lot of money by structuring your loans. You can do this by reading free articles like the ones at:
www.Loan-er.com or other sites like it.
Best of luck and low prices!
Zachery Truss
