Can You Beat Rates and Fees from Major Lenders?

Question: I got two quotes from two major lenders on a jumbo loan for $500,000, one lender offered me 6.375% (3/1/06) and the other lender offered me a rate over 7%. I read about you advise on how to compare and shop for mortgage rates. But before committing to a lender I thought I would send you an email on your website and see what you could do for me.

Ken Go: After interviewing the client, I got them approved that same day. I committed to lock the rate in at 6.25% (3/02/06) for the exact same program. The client now is formally approved and all we are waiting for is the final closing. With a simple phone call, the client was able to get guaranteed rates and fees from us in writing and they were able to save an extra $40.00 a month on the payment. Not a bad deal, now they know they are getting a good deal with great service. I can normally compete with major lenders if not beat them. We actually work with most of the major lenders but we get wholesale pricing, which is why we can be better than most of the major lenders.

Thank you so much for your inquiries, I enjoy very much giving advice and helping our readers obtain better financing. Please call or write to kennethgo@verizon.net , call (888)-822-5363 or visit our website for California Home Loans.