We have all heard commercials from lenders and brokers announcing they have the best rates. However, as you may be aware, the lender is looking at the transaction as profit, not looking at what is best for the customer. The Mortgage Fee Coach (MFC) looks at what is best for the you, “the borrower” by providing the following 11 point performance check list:
- First and foremost, MFC is an advocate for you, always looking out for your best interests, and does not receive ANY compensation from lenders or affiliates.
- MFC performs an independent analysis of your current loan, confirming it is in your best interest to refinance or apply for a home loan.
- MFC coaches you on how to request the best and most accurate rate and fee quotes.
- MFC analyzes potential lenders.
- MFC reviews potential loan programs, enabling you to make a better informed decision, such as the benefits of a 15 year loan over a 30 year loan, given your circumstances, etc.
- MFC provides a spreadsheet comparison of lender quotes, which provides an easy to see picture of complete details of fees, rates and payments, confirming no excessive or garbage fees, thereby enabling you to reach an easy conclusion of which is the best rate, fees and lender.
- When appropriate, MFC introduces you to a quality lender that is able to provide a better mortgage rate and/or loan fees, with direct personal service to review the loan details and process.
- If you are using your own lender, MFC helps you negotiate the lowest fees and rate possible for the current market conditions.
- MFC keeps an open communication channel, and provides information and education, before, during and after the loan process.
- MFC maintains transparency, honesty, integrity and builds a relationship with you based on respect, which enables you to have peace-of-mind.
- MFC confirms the lender is providing a the loan in a reasonable amount of time, quality service and with good communication.