Are you searching for a mortgage lenders of America review before you refi your home loan and want to avoid paying unnecessary fees and hidden markup? Did you know that according to the Secretary of Housing and Urban Development your friends and neighbors in the US will overpay sixteen billion dollars for their home loans this year? Here are some of my best tips before you refi to help you avoid becoming a part of this statistic.
Mortgage Lenders of America Review
The problem with any Mortgage Lenders of America Review is that it’s not going to show you how to avoid the hidden markup that all lenders include in your home loan. Did you know that lenders pay an incentive to brokers for marking up your interest rate called Yield Spread Premium? Don’t worry if you never heard of Yield Spread Premium, once you’ve finished reading this Mortgage Lenders of America Review you’ll know exactly what it is and how to avoid paying for it.
Yield Spread Premium Definition
Also known as YSP, Yield Spread Premium is a fee paid by lenders to any loan originator who locks and closes your home loan with a higher than necessary interest rate. If you came here looking for a Mortgage Lenders of America Review that simply points out the best refinance company to choose for your next home loan you’re not going to find one because they can all include Yield Spread Premium on their loans. What you need to know is that it is possible to refinance your home with a wholesale mortgage rate and avoid this hidden markup completely.
What you won’t get from those other Mortgage Lender of America Review sites is a sound mortgage rate strategy for avoiding this hidden markup and cutting as much as $1200 a year from your payments. You’ll also get the added benefit of avoiding lender junk fees while refinancing with wholesale rates.
How to get Wholesale Mortgage Rates
You can refinance your home with a wholesale rate not by shopping for the best refinance company for your next home loan but finding the right person to arrange your next home loan. There are brokers out there willing to work for a flat origination fee of one percent without marking up your interest rate for a kickback, you just have to find one. You can get started after reading this Mortgage Lender of America Review by looking for small, self-employed broker. These brokers will be much more likely to negotiate the kind of deal that I’m describing here with a wholesale mortgage rate.
Instead of relying on a mortgage lender of America review to get the best home loan you can learn more about refinancing with wholesale interest rates by checking out my free underground Mortgage Refinancing Videos.
Here’s a quick sample to get you started today refinancing your home loan with wholesale rates.