Current Mortgage Interest Rate Without Hidden Markup

Are you searching for the lowest current mortgage interest rate for your next home loan? Are you worried that hidden markup and junk fees could result in overpaying thousands of dollars every year? Did you know that according to the Secretary of Housing and Urban Development your friends and neighbors are overpaying sixteen billion dollars this year alone? Here are several of my best tips to help you find the lowest current mortgage interest rate without throwing money way on your mortgage broker’s BS or lender junk fees.

Current Mortgage Interest Rate Online

Mortgage quotes are easy to find online; every Tom, Dick, & Harry with a mortgage website will give you a “free” quote without obligation. (Before you call me a hypocrite, yes it’s true…so will my site; however, the difference is that I’m going to show you how see through all the hidden markup and junk fees your neighbors fell for…)

What is this hidden markup I’m going on about? That’s the point isn’t it? …It’s hidden. If it wasn’t hidden your neighbors wouldn’t be throwing away an average of $1200 a year thanks to lender paid compensation known as Yield Spread Premium. What is Yield Spread Premium? Simply put, your mortgage lender pays any broker that locks and closes your home loan with a higher than necessary current mortgage interest rate a kickback known to the mortgage fat cats as Yield Spread Premium.

Why You Need to Avoid Mortgage Yield Spread Premium

Here’s an example to illustrate the problem with this hidden markup of your current mortgage interest rate. Suppose for example you’re refinancing your home and the broker quotes you a current mortgage interest rate of 6.75% on a $315,000 home loan. The broker charges you a mortgage origination fee of 1.5 percent for their work arranging your home loan and brags about the deal they’re getting you.

What the broker isn’t telling you is that you could have had that lender’s lowest current mortgage interest rate of 6.0%; however, this person marked it up to collect a commission from the lender of 3.0% of your home loan amount. This is paid in addition to the point and a half you’re already overpaying the broker for their origination fee.

What the big deal about an extra .75 percent when mortgage refinancing? Your monthly payment on a 30 year, fixed rate home loan at 6.5% will be $2,043 per month. If you had the current mortgage interest rate you deserve at 6.0% your payment will only be $1,888 per month! That’s a difference of $155 per month, a whopping $1,860 per year! Don’t fall for the same trap your neighbors did when mortgage refinancing.

It is possible to pay a flat origination fee of 1.0% of your loan amount and refinance with a wholesale mortgage rate keeping that $1,860 in your pocket for the things that really matter. You don’t have to have a mortgage broker cousin or be a personal finance guru to get a current mortgage interest rate that doesn’t include this hidden markup…you just need to know how to go about it.

You can learn more about mortgage refinancing with wholesale rates without paying junk fees by checking out my free Underground Mortgage Videos.

httpv://www.youtube.com/watch?v=be9md0A0_2c

Here’s a quick sample to get you started on the path to taking back $1,860 per year on your next home loan…mortgage broker be dammed!

How to Get Low Rate Home Loans

If you’re searching for low rate home loans and want to avoid hidden markup and junk fees on your next refi there are several things you need to know to avoid overpaying. Did you know that according to the Secretary of Housing and Urban Development your neighbors in the United States will overpay sixteen billion dollars for their mortgage loans this year? And yet, a few minutes from now, I’ll show you how to avoid this trap your neighbors have fallen into. Here are several of my best tips for getting low rate home loans without paying junk fees or unnecessary markup.

Low Rate Home Loans Online

Did you know that all of the mortgage quotes you get online include hidden markup intended to create an extra commission for the person arranging these so-called low rate home loans? This “extra” commission is pocketed on top of the perfectly good loan origination fee you’re already paying the person arranging your mortgage and is the reason most of your neighbors are paying too much. How do you find low rate home loans? While it’s true that the internet can be an excellent resource for comparison shopping, if all of the mortgage quotes you get contain this hidden markup, what good is comparison shopping? (Just one of the mistakes made by your neighbors)

The same is true of the low rate home loans your mortgage broker promises you. The trick to finding the best deal isn’t comparison shopping mortgage quotes until you’re blue in face, it’s finding the right person to give you access to low rate home loans. There are honest, hard-working mortgage brokers out there that don’t take hidden commissions, you just have to find one.

How to Find the Right Mortgage Broker

Before you can find the right person to give you the access you want you’ll need to understand how this hidden markup works. Mortgage fat cats call their hidden commission Yield Spread Premium. Simply put, Yield Spread Premium is a fee, (think kickback) paid to the person arranging your mortgage for locking and closing with a higher than necessary interest rate. Don’t think you can avoid Yield Spread Premium by taking out a mortgage from your bank, they have the same hidden markup with a different name. So how do you avoid this insidious mortgage Yield Spread Premium when shopping for low rate home loans?

We’re back to finding the right person to arrange your home loan. Start by telling potential mortgage brokers that you understand how Yield Spread Premium works and will not accept any offers that include the markup. Offer to pay them a flat origination fee of one percent (which is perfectly reasonable for the broker’s work) and you’ll be well on your way to getting a wholesale mortgage loan.

You can learn more about getting low rate home loans without paying hidden markup or junk fees by checking out my free Underground Mortgage Refinancing Videos.
httpv://www.youtube.com/watch?v=be9md0A0_2c
Here’s a quick taste to get you started on the road to saving thousands of dollars each year with a wholesale mortgage rate.