Why Not To Apply For Your Home Loan Directly At The Bank
Applying for a home loan can be frustrating and annoying when things go wrong, even when they don't go wrong (the bank doesn't lose your fax three times or not return your calls) it is still a daunting and drawn out task. A way to ease the frustration is to apply for your home loan through a mortgage originator who will be there to answer questions along the way and help you understand any of the banks terminology. The mortgage originator will take the complication out of applying for your home loan.
You might be surprise to know that your own bank does not always offer you the best deal when it comes to home loans and interest rates. Sometimes they feel that you are over extended with them and they would rather give you a more "secure" interest rate (security for themselves) than give you a better deal. A mortgage originator has the footing to negotiate a better interest rate for your home loan by motivating with the correct information.
Here are some other reasons why you should rather apply for your home loan through a mortgage originator instead of going directly to your own bank.
The mortgage originators often work with the same group of attorneys over and over again so this gives them the opportunity to negotiate a discount for you on your transfer and registration fees if you ask really nicely!
Through a mortgage originator you can apply to all the banks without having to complete four applications and fax off four sets of documents and follow up with four different help lines. You can simply submit your one application to the mortgage originator and they will submit to all the banks on your behalf.
Of course this means that you only need to phone one person, your mortgage originator, when you want feed back and you do not have to sit on the help lines of each of the banks you have applied to. Even then I should mention that a good mortgage originator will call you as soon as they have news and keep you up to date with what you need to know without you needing to worry about contacting them at all.
You might be surprise to know that your own bank does not always offer you the best deal when it comes to home loans and interest rates. Sometimes they feel that you are over extended with them and they would rather give you a more "secure" interest rate (security for themselves) than give you a better deal. A mortgage originator has the footing to negotiate a better interest rate for your home loan by motivating with the correct information.
Here are some other reasons why you should rather apply for your home loan through a mortgage originator instead of going directly to your own bank.
The mortgage originators often work with the same group of attorneys over and over again so this gives them the opportunity to negotiate a discount for you on your transfer and registration fees if you ask really nicely!
Through a mortgage originator you can apply to all the banks without having to complete four applications and fax off four sets of documents and follow up with four different help lines. You can simply submit your one application to the mortgage originator and they will submit to all the banks on your behalf.
Of course this means that you only need to phone one person, your mortgage originator, when you want feed back and you do not have to sit on the help lines of each of the banks you have applied to. Even then I should mention that a good mortgage originator will call you as soon as they have news and keep you up to date with what you need to know without you needing to worry about contacting them at all.