Every day we see advice from real estate and mortgage people with good intentions, telling their clients to shop around for a mortgage. They discuss how important it is, and it is, without a doubt, very important.
While all of that advice is "well and good", the inherent problem in "shopping around", still remains; How do you know if the people you are shopping with have the ability to, or will bother to find the "best" mortgage and rates? For years, there have been great technology tools to do that, yet most originators do NOT use those technologies to find rates. Many of them just wait for the next Lender Account Rep to walk in the door, get a quote and give it to the customer. That is not the originators job.... their job is to truly SHOP the rate for the consumer who doesn't have access. Certainly, it is more difficult in the subprime market than in conforming, where rates don't vary nearly as much.
Our site levels the playing field.
As a real estate agent you can use our system, which employs the best technology available, to find the best PAR rates for all types of loans in a database of dozens of lenders. You can find out if a client qualifies for the home they are looking for, within 2 minutes! Of course, Murphy's Law applies. If there is a better price, and we don't have it in our database, we won't see it. Consider how long it would take a loan originator to price dozens of lenders. Want to wait three months for the quote???
Our database has National lenders, not local correspondents or resellers. Chase, Wells, Taylor-Bean, Option One, Deutschebanc, BNC Mortgage, Bear-Stearns, Countrywide and many, many more are among the types of lenders' rates we scan. This process is so fast, we had considered slowing it down because we feared people woudn't beleive it could be so fast. But, it is. Our technology coders are the best.
Do yourself and your clients a favor. Use our FREE tool. http://www.FreeRateSearch.com and spread the word. With all of the ARMs resetting, this tool will help people stay away from adjustables. Our data shows that the difference between the best ARM and best 30 Fixed is not that great, and better yet (or worse...lol) our data shows that the worst ARM gets beat to death by the best 30 year fixed. (using same qualifying data) But, you have to know where to get it.
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