shopping: 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)

shopping: HUD to Buyers: "It is your responsibility to search for an agent who will represent your interests in the real estate transaction." - 01/01/10 09:44 AM

Newly revised for 2010, HUD's latest publication related to buying a home is titled, "Shopping for Your Home Loan: HUD's Settlement Cost Booklet." It is a must-read for anyone who will be buying a home in 2010 (or beyond).
In spite of the title, the booklet doesn't just contain information on how to shop for a home loan using new forms and an explanation of the settlement costs involved in a real estate transaction. The guide also contains valuable information on a variety of other topics related to purchasing a home. (It's a whopping 4 Megabyte download!)
Massive reforms in the real … (13 comments)

shopping: The New Good Faith Estimate (GFE) Form, Page 1 (Part 1) - 11/11/09 05:00 PM
Let's examine the top half of Page 1 of the new Good Faith Estimate (GFE) form.
One of the first changes you will notice about the Good Faith Estimate form is that it now asks for the Loan Originator's email address.
It also asks for a Property Address. Remember, without a property address (the one the borrower intends to get the loan for), the Good Faith Estimate is non-binding, meaning the lender (or loan originator) is not able to be held to fees and rates quoted. However, prior to closing, a Good Faith Estimate will all the required information on it … (1 comments)

shopping: Shopping for a Loan - Understanding the New Good Faith Estimate (GFE) Form - 11/11/09 04:46 PM

Due to RESPA Reform, as of January 1, 2010, lenders are required to use a new, uniform, Good Faith Estimate (GFE) form. This new form creates additional disclosure and transparency about the loan product being offered as well as the costs to the borrower. The Good Faith Estimate (GFE) form is 3 pages in length. All lenders will use the same form. This was not true prior to January 1, 2010.
Once a borrower has provided all the information necessary for a lender or broker to complete a Good Faith Estimate (GFE), the loan originator has 3 business days to … (3 comments)

shopping: Mortgage Shopping Will Soon be a Lot Less Complicated - 11/10/09 11:11 AM
Mortgage shopping will soon be a lot less complicated.
RESPA Reform takes effect on January 1, 2010. While still not perfect, the changes do simplify the ability to compare loan offerings between lenders. The goal was to simplify and improve disclosure requirements for mortgage settlement costs under RESPA. My analysis: Mission Accomplished
Here are some key highlights for borrowers:
The new Good Faith Estimate (GFE) and the New Settlement Statement (HUD1 or HUD1A) now correspond to one another. In the past, there was no direct correllation between line items, making it difficult for a consumer to know whether or not … (3 comments)

shopping: 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)

shopping: 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)

shopping: 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)

shopping: 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)

shopping: 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)

shopping: 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)

shopping: 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)

shopping: Homeowner's Insurance and Buying a Home - 05/20/08 01:28 PM
Who Most Clients UseMost clients use the same company they use for auto insurance and/or renters insurance (although some auto insurance companies don’t offer homeowner’s insurance). This is often "the path of least resistance", but that doesn't mean it is a bad choice.
Why Cheapest May Not Be the BestThose who choose to shop other companies may find that they can save a few dollars per month. Some clients who have chosen to use one of these “other” companies have reported that they don’t get a “bundle” discount and often after the first year the rate is raised to higher than … (0 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

More about me…

Homebuyer Representation, Inc.

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

Office: (801) 969-8989

Mobile: (801) 999-8889

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