Page 11 - KevinBriertonCaliber

FAQs While You Shop
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Second opinions on the largest transaction of your life are always a good thing which could potentially end up saving you thousands of dollars over the life of the loan. Once you decide to move forward on a home of your choosing I would love the opportunity to provide you a Total Cost Analysis so I can help you make an informed decision.
I always ask my clients to ask the following questions when shopping for a current lender. I also provided you with some thoughts to keep in mind regarding the questions.
How will the loan I have asked for a rate quote affect my financial goals?
Most loan officers have no clue what a buyers financial goals are and therefore, cannot answer this question intelligently.
What are mortgage rates based on?
If a loan officer does not know answer this do not work with them. Rates are based on MBS (Mortgage Backed Securities) or Bonds, not Treasury Notes.
What are the total fees associated with this product and rate?
Remember, points, origination fees, etc. all affect the quoted interest rate. Rate quotes can always be, and most often are, apples and oranges instead of apples and apples.
What are the market movements on rates today?
If a loan officer does not have the ability to show you what is happening with rates, bonds, etc. in a real time fashion, there is no value in discussing interest rates.