fees: Three Tips for Shopping Your Home Loan and Saving Big - 09/27/13 07:30 AM
One of your biggest savings when buying a home can come from the simple act of shopping your home loan. 
Shopping for the best mortgage can save you thousands of dollars in up-front costs, and many thousands more over the life of the loan. 
Most lenders are good people trying to provide for their family within the framework of the company they work for. The fact is, however, some loan originators simply cannot offer you the best rate and terms available to you. What they offer depends a lot on how much volume their company does, how much overhead the company has, … (0 comments)

fees: Attention Buyers: Buyer Representation is NOT Free - 10/01/12 07:11 AM

 
This post started as a response to comments in another blogger's comment thread on the topic of how messed up the real estate industry is in the areas of representation and how compensation can tempt agents to do things that are not in their client's best interest.
The discussion started over whether or not buyers or sellers were getting true representation and loyalty from their agents, or if the agents were only looking out for themselves and/or the companies they work for. There was discussion over whether it was ever right to double end transactions (get paid twice as … (8 comments)

fees: How to Calculate the Cost vs. Benefit of Refinancing - 10/12/11 10:27 AM
How to calculate the cost vs. benefit of refinancing
Whether or not you should refinance will depend at least 3 things:
The costs associated with refinancing The total monthly savings the refinance equates to. How long you plan to stay in the home or hold the loan Once you calculate how many months of savings it will take to cover all the costs of refinancing (including any costs added to the principle balance of your loan) you can more easily assess whether or not it makes sense for YOU to refinance.
Here is an example. The numbers I'm using make for … (0 comments)

fees: The New Good Faith Estimate (GFE) Form, Page 2 Section A - 11/11/09 05:24 PM
Page 2 of the new Good Faith Estimate (GFE) will look significantly different from Good Faith Estimates of the past.
Section A has 2 parts.
Item 1 is the origination charge, or what the lender is charging you for the loan. This number includes ALL lender fees, combined into one figure. These fees include all the items one used to see listed on Good Fath Estimates as separate line items under such names as:
Application Fee Origination Fee Processing Fee Underwriting Fee Document Preparation Fee Administration Fee Wire Transfer Fee etc. It may also will include any Yield Spread Premium … (0 comments)

fees: How to "Shop" Loans and Lenders Part 1 of 7 (How to Shop Mortgage Loan Series) - 08/01/09 08:48 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (6 comments)

fees: How to "Shop" Loans and Lenders Part 2 of 7 (Same Day - Same Time) - 08/01/09 08:46 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: How to "Shop" Loans and Lenders Part 3 of 7 (Same Facts) - 08/01/09 08:45 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: How to "Shop" Loans and Lenders Part 4 of 7 (TOTAL Cost) - 08/01/09 08:43 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: How to "Shop" Loans and Lenders Part 5 of 7 (Friend/Special Deal) - 08/01/09 08:39 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: How to "Shop" Loans and Lenders Part 6 of 7 (References) - 08/01/09 08:38 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: How to "Shop" Loans and Lenders Part 7 of 7 (Extras/Additional Information) - 08/01/09 08:36 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

fees: Beware the Bailout Buzzwords - 04/20/09 03:19 PM
Beware the Buzzwords.
I had a recent experience with my current mortgage holder that makes me wonder if consumers are accepting "deals" from banks that are not "deals" at all.
First, to be clear: I have equity in my home and I don't need a loan modification. I'm just in the market to refinance because rates are pretty good right now.
I called to get a payoff on my existing loan. I got transferred to a loan retention department where they had a "special deal" for me if I stayed with them. I think it was something like 1/8 less than … (10 comments)

fees: To Refinance or Not to Refinance? - 03/25/09 06:48 AM
Many homeowners are tempted to refinance at interest rates that haven't been this low since the 1970s.
Well, should you? Or shouldn't you?
The general rule of thumb has been to refinance if you can save more than 1% on the rate (with no points or fees other than an appraisal, Title Insurance, and re-establishing an escrow account). You also generally want to be planning on staying in the home for at least another few years, as it will usually take a year or two to recoup those costs. (MORE, if you pay origination fee and junk fees.)
I read an … (5 comments)

fees: Think the Seller Pays the Real Estate Fees? Think Again! - 02/25/09 10:27 AM
Most Buyers are told that the Seller pays all the real estate fees. This is not exactly true.
That the Seller pays the fees is semantics. Your cash (or loan) to buy the home is what gives the Seller the proceeds with which to pay their agent and other settlement fees. YOU not only pay for your agent, but one could argue that you also pay for the Seller's agent.
You have the right to choose your own agent. Make sure you don't shortchange yourself by hiring a mediocre agent to represent your side of the transaction. Certainly, don't make the … (3 comments)

fees: Home Buyers Beware when Choosing a Utah Home Inspector - 07/15/08 07:05 AM
In Utah, all it takes to be a home inspector is to call yourself one.
See  Get Gephardt – Worst Home-Buying Fiasco Ever! -
Quotes:
"And guess what, home inspectors need absolutely no qualifications whatsoever in Utah."
"...there is no state agency overseeing home inspectors in Utah. And it appears anyone can declare themselves a home inspector: with no training, no license, and no experience."
If you are thinking about buying a home in the Salt Lake area, you will want to have your home inspected by a good home inspector. Begin as soon as possible to research various home inspection … (1 comments)

fees: The wrong mortgage can cost thousands of dollars in needless fees, interest and other costs - 05/08/07 10:17 AM
The wrong mortgage can cost thousands of dollars in needless fees, interest and other costs.Many lenders have a handful of loan types that they use with almost all of their customers. You may qualify for special programs, but never hear of them. Many lenders use the loans that are most similar to what the Buyer is familiar with, but which provides the lender with the highest yield or fees (the loan that will put the most money in their pocket...)
Others will find out what your "hot-button" is: lowest interest rate, lowest fees, lowest payment (to name a few).
They will quote you … (2 comments)

 
Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) Rainmaker large

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

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Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office: (801) 969-8989

Mobile: (801) 999-8889

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