Atlanta Buckhead - Mortgage Costs Compared For Clarity

Real Estate Broker/Owner with Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...

Atlanta Buckhead -
Mortgage Costs Compared For Clarity

Consumers find variations in Mortgage offers confusing.
That's because they are confusing!

Standardization for offers was needed so consumers could easily understand what the offers contained. That became one of the jobs of the Consumer Financial Protection Bureau. 

The CFPB was created to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace whereas previously, responsibility was divided among several agencies. Their mission statement begins:  "We aim to make consumer financial markets work for consumers, responsible providers, and the economy as a whole. We protect consumers from unfair, deceptive, or abusive practices and take action against companies that break the law. We arm people with the information, steps, and tools that they need to make smart financial decisions."


Atlanta Homes ODAT Realty works with the finest and most hard-working LOCAL Mortgage Lenders. We are happy to recommend several of them to you for your Metro Atlanta purchase. Check out their online info and choose one that you like. We like them ALL!!! In addition, each of the Lenders we recommend has access to a wide range of loans from Conventional to FHA to Sharia-compliant to VA to USDA and more.


While the CFPB has streamlined the presentation of information to the public with an assortment of forms, sometimes a picture truly is worth 1000 words. Check out the simple chart below for a quick understanding of some of the offer differences and the financial results of the differences.



Another factor to consider:
Total Interest paid over life of the Mortgage. 

The chart below details those differences.


Remember as Joe Metzler, AR member Mortgage originator from Minnesota states:

" ... many companies do post their rates on their sites, however, because there are several variables that determine your actual rate, you may be viewing rates that are inaccurate or require such stringent qualification requirements that most borrowers do not qualify for that rate. Be careful of focusing too much on a published Interest Rate that may be a representation of a product that does not relate to your situation or the broader scope of your [personal] need." 

I am proud to say I have learned a lot reading posts from Metzler Mortgage.

All the best - Lynn

Infographics created for our Client Margareta M.!

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Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

You're right, most lenders don't post their rates and when clients receive multiple 'estimates' from multiple lenders, Lynn, they are more confused than they ever were. This is clear-cut and easy to understand for them. Great choice for lending, Lynn!

Jun 02, 2018 03:17 PM #1
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lynn clearly here is another reason it is important to have a trusted adviser that can guide the buyers through all the challenges in acquiring a home, Endre

Jun 02, 2018 06:11 PM #2
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Lynn B. Friedman

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