Did you know most homeowners in the United States pay double what they think their mortgage loans cost? If you think your mortgage loan is costing you $2,500 in origination fees you’re probably paying in excess of $5,000 for that loan. This markup of your mortgage loan by the Mortgage Company or broker is called Yield Spread Premium and costs homeowners in the United States an average of 16 billion dollars per year.
I’m happy to announce that RefiAdvisor has recently released our FREE, six-part mortgage refinancing video tutorial. The tutorial covers the basics of the mortgage markets, how to prepare your credit for refinancing, dirty little mortgage secrets your lender doesn’t want you to know, mortgage refinancing on the Internet, and a step-by-step guide to refinancing your mortgage loan.
This mortgage tutorial will help you avoid abusive lending practices like Yield Spread Premium. Yield Spread Premium is the retail markup of your mortgage interest rate by the loan originator and if you agree to pay this you will overpay thousands of dollars each and every year you keep the mortgage. These videos also teach you how to improve your credit score, shop for the best mortgage using the Good Faith Estimate, and how to avoid costly homeowner mistakes.
Mortgage originators take advantage of confused and uninformed borrowers. Doing your homework and comparison shopping from a variety of mortgage companies and brokers will help you avoid 90% of the mistakes homeowners make when refinancing their mortgage loans. Click Here to get your hands on this free mortgage refinancing video tutorial.