Over the last month, I have had two potential clients give me a loan scenario to price out for them. When I told them the days rate, they both told me that 'the other guy' was quoting them the same rate. I told them that the way Road to Home Mortgage is structured, we should beat almost any other lender out there. The best way to compare fees and pricing is with a Loan Estimate. It is required of lenders to send out a Loan Estimate in 3 business days or less once you have specific information from a borrower (such as their name, income, address, etc). After reviewing my Loan Estimate to 'the other guys', I saved both of these borrowers thousands of dollars. One was over $4200 in just fees, and the other one was over $1700 in fees and $1600 in lower mortgage insurance for the loan. 

​While the rate might look the same, you still might be paying thousands of dollars extra in other fees!

Here are some things to look for on your loan estimate:
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• Are you paying points to get your rate? This means you are paying money upfront to secure a lower rate
• What are the total fees in Section A. (Origination Charges) for your loan on the loan estimate?
• Do they offer a free appraisal?  At Road to Home Mortgage, we have loan programs that offer appraisal credits for the cost of your appraisal!
• What is your monthly mortgage insurance (if you are putting down less than 20%)? I saved one of these borrowers $200 a year with cheaper mortgage insurance!
  
  

Here is a great resource from the Consumer Financial Protection Bureau that reviews the loan estimate: Loan Estimate Breakdown.

​Below is a screenshot taken from the website mentioned above. You can take 5 minutes to review the details of a loan. It could potentially save you thousands of dollars! 

Until next time!

​-Evan 

Through December 31st, all appraisals will be credited up to $525

Want to save yourself some $? Get a no-cost appraisal! Only our preferred lender
provides a credit to your clients up to $525 on ALL CONVENTIONAL loans. We save your hundreds
of dollars off, while you still enjoy a great low rate. Coupled with our fast closings,Road to Home Mortgage is the way to go.
In addition to saving up to $525 on your appraisal, we give your access to:
● Some of the lowest rates and cheapest mortgage insurance in the country
● Closings in 15 days or less
● Down payment programs with as little as 3%​

$525 Appraisal Credit with Homeready and Home Posssible!

Want to save money on your next Refinance or Purchase? Only Road To Home Mortgage can credit you up to $525 on both Home Possible and HomeReady loans which have an income limit of $69,100. Both programs are great alternatives to FHA and, when coupled with Road To Home Mortgage's better pricing, you may save up to hundreds of dollars off your monthly payment, while still enjoying a great low rate.

In addition to saving you up to $525 on your appraisal, HomeReady and Home Possible loans give you access to:

Some of the cheapest Borrower Paid Mortgage Insurance in the country
Improved pricing to match regular conventional 30-year fixed pricing
Down payment programs with as little as 3%
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Exciting news for all our Arizona borrowers looking to refinance their home! Our wholesale partner has just increased the cash-out maximum from 80% to 85% LTV. This means on a $400,000 home value, you can do a cash-out up to $340,000. You can have more money on hand! This is just another way Road to Home Mortgage is giving you more options on your real estate! 

Some of the Program Highlights:

• 740+ FICO
• Primary homes only
• Reduced mortgage insurance premiums
• LP Accept response required 

Contact us today if you have any questions! 602-888-7990

At Road to Home Mortgage we are showcasing local businesses around Greater Phoenix. If you haven’t heard of Oven + Vine, you should! It’s a fantastic local restaurant where you can relax and enjoy the delicious food in a remodeled 1940’s Vaughn residence. They also opened a little coffee shop by the restaurant called Birdhaus Coffee. Evan recently spoke with Dylan who is the owner of Oven + Vine with his wife.  ​