Just this week, had a customer call who was inquiring about our rates and fees to refinance his current home loan.  He was comparing our costs and rates to that of a competitor who advertises quite frequently in the Seattle Market.  After gathering all the information I needed, I sent him a good faith estimate.  A few days later, I followed up with him and inquired about the estimate and to see if he had made a decision.  He informed me that he was leaning towards the on line competitor because he didn't have to pay any points.  He was kind enough to email me their estimate so I could compare the two and here's what I found.  He was correct, he wasn't paying any "points" but his loan fee was 2%.  We originally quoted our no loan fee, no points option, but our rate was a .25% higher than the no points - 2% loan fee option.  So once we gave our apples to apples comparison of the same rate, our fees were a full 1% lower. But had I not followed up with him a few days later, he could have ended up paying substantially more to refinance.  So the moral of the story here, is that a No Points options doesn't necessarily translate in to better deal once all the costs were taking into consideration.

All Tech Mortgage Inc. is your gateway to great mortgage products from Washington State's top mortgage lenders. Locally based in Tacoma, we shop, compare rates & fees and connect you with the best mortgage banks in the Northwest. The interest rates we quote are typically .25% - .50% lower than most national mortgage companies. Plus our fees are some of the lowest in the industry.