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CAN ONLINE MORTGAGE LENDERS REALLY SAVE YOU MONEY?
Hey, Gang!
You've seen the commercials on TV and on the Internet - low rates on new and refinanced mortgage loans.  Many are lower than what local Loan Brokers, and many banks, seem to be offering these days.
But are these offers on the level?  And, will someone be there to service your loan at closing if the terms are different than was earlier agreed?
All of this comes in a lending environment where low-rate loans may truly be hard to find.  Many home borrowers today with mid-level credit and less-than-25% down payments are finding higher rates and fees, and tighter loan requirements.
Indeed, many prospective home buyers, as well as our Team advising our own clients, rely on Banks or Mortgage Brokers to shop lenders for the best rate.  Currently, the average 5/1 Adjustable Rate Mortgage is 6.01% nationally. 
Some online lenders, however, such as online-only bank ING Direct, presently offer rates as low as 5.25% APR for essentially the same product.  E-Loan, Emigrant Savings, and MTG Capital offer similar rates.  These rates apply, mind you, typically apply to applicants with strong FICO Credit Scores - typically 700 or over.
Many of the discount-rate lenders do not have a costly branch office presence, and ... more

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