One Charge or One Credit? What could be Simpler?

Dear Realtor Friends:

At Priority Mortgage, your customer’s will not pay:  “Processing Fees, Underwriting Fees, Tax Service Fees, Points, etc., etc., and especially – NO ‘APPLICATION FEES’!”  In Fact, if you pay a fee at all to us, it will be bundled into One (1) general charge, or in most cases, a general “Credit” that We pay to the Borrower… you will receive 1 Charge, or 1 Credit… What could be simpler?

Although, service is a vitally important component of looking for a mortgage provider, as poor service and sometimes even average service can cost a Buyer additional, unforeseen delays and additional money.  It may be helpful to know which area Lenders are efficient and competitive at the type of loan the Borrower is seeking.  Service is all too often overlooked when shopping for a mortgage loan.  However, when comparison shopping for merely price, for the same rate, and the same type of loan, it’s all about “Box A.”  Look to “Box A” – “YOUR Adjusted Origination Charges:”

Attached are our current rates based on last Friday, May 17th, 2013.  Also attached are 3 FHA Streamline Refinance Examples based on our current rates for FHA, 30 year fixed rate mortgages.

Example 1
Example 2
Example 3

We’re paying “Credits” for the same rates other guys are charging “FEES!”  And Still… closing most FHA, & Conventional Loans in 28 days or Less ☺.

No Geographically Challenged Appraisers! *Plus – 3 Reasons to use Priority Mortgage: Local, Local, Local

And did I mention, we’re local? ☺

Dear Friends:

Priority Mortgage started as a Mortgage broker, back in the mid 90’s.  Since then, we’ve grown to a Mortgage “LENDER” (known as Polaris Home Funding) that not only underwrites our own loans, but also funds them.  We have been doing this for over 10 years now; not only for us, but for many other Mortgage Brokers, banks and credit unions in over 25 states.  Because of Low Rates, Low Closing costs, and exceptional Efficiencies, Priority Mortgage (Polaris Home Funding) has evolved into a 100+ employee Mortgage Lender.   Not bad for a little ole’ company that started as a 5 person broker shop in Grandville, Michigan!

Advantages of Local Lending & Local, “Geographically Competent” Appraisers:

We have only Local Appraiser’s, assigned by close proximity of Zip code of the subject property.  NO Appraiser’s coming from the Lansing or Detroit areas to appraise our market.  Our Appraiser’s are all “Geographically Competent” with a great deal of knowledge and experience of 10, 20 & 30+ years of appraising our Local market!  Additionally, we have:

1.    Local Underwriting with 48 hour turn times – Speed in process to closing: FHA & VA & Conventional Loan Closings most often occur in 28 days or Less; and some of the quickest RD’s anywhere

2.    Local Originating, after hour normal business hours appointments, after hour & weekend return phone calls, and emails – Priority Mortgage has only Licensed Loan Officer’s, with much Lending Knowledge and with many years of experience.

3.    Local Processing, not farmed out to other regions.  My Processor is prompt to reply, even taking important cell phone calls & text messages after business hours!

Why take a number and use the Mega Lenders, or on-line sources?  Especially if our rates are costs are cheaper!  – We invite you to compare our rates & costs, and ask around about our service by way of word of mouth… We would like to save your valuable time, and your save you some money: right here – Locally ☺ There really IS a difference, we work like YOU do!

In an Appreciating Housing Market, Lender Credit are More Important than Ever

Dear Friend

From January of 2012 through April of 2013, my team and I have closed 83 Loans for FHA, VA or RD Borrowers.

Although, this is not a huge number of loans over a 16 month span by any means, it is one of the reasons why we can move so quickly and efficiently – because our pipeline may be smaller, and easier to manage than perhaps some other Lenders?  Of these 83 borrowers, 73 of them not only paid NO Lender Charges to us, but received a “LENDER CREDIT,” essentially getting paid from us at closing in the form of a “LENDER CREDIT” to offset title fees, appraisal fees and even tax escrows.  This accounts for 89% of all our FHA, VA & RD Buyers receiving “LENDER CREDITS,” however, most all of the Buyers who elected to pay some Lender Charges to get an Even LOWER rate, still paid less than $500 in total Lender Fees!  In some cases, our Lender Credits were sufficient to pay for ALL the Buyer’s 3rd party closing fees, AND pre-paid escrows for taxes & insurance, allowing them to purchase the home for their minimum 3.5% down payment required by FHA with NO Seller concessions!

In the appreciating housing market we are seeing, Lender Credits may be more importantly than ever….If you know someone who is currently in the housing market, you don’t need a Loan Officer to tell you how competitive it is to get an offer accpeted, but I can help them by reducing or even Eliminating other costs that a Buyer would have to otherwise have to ask the Seller to pay!

•         No Upfront Application fee (for filling out the paperwork of a pre-approval)

•         FHA, VA & R.D. Rates competitive with the competition but paying No Lender Charges, but paying “LENDER CREDITS!”  Our “Lender Credits” just that, true Lender Credits, they are not offsetting other fees that a Lender would charge, such as their:  “Processing Fees, Underwriting Fees, Application Fees,” etc

•         Submitting R.D. loans to the R.D. office for final approval within 24 days on most loans.

•         Still Closing Most FHA, VA & Conventional Loans within 28 days!

The 3.25% is BACK with PAYING YOU “LENDER CREDITS” – Paying YOU Money to Borrow 30 years at 3.250% FHA Fixed Rate Loan with APR 4.455%

Dear Friends:

It’s Baaaaacccck….

Watch and listen to the expensive mortgage ads on t.v. and the radio…

THEN ALSO be sure to ask friends, relatives, co-workers, and Real Estate professionals locally who know:  “Where is the best place to get my FHA, VA or R.D. Mortgage?”

Yes, at Priority Mortgage, we’re Still closing most FHA & VA loans in less than 28 days or Less.  And, as compared to last Sunday’s area mortgage rates (4/7/13) for a $165,000 mortgage, our 30 year FIXED, FHA Rate as of Friday (4/5/13) is 3.250%.  This Low Rate not only comes WITHOUT any Lender COSTS, but is PAYING a “LENDER CREDIT” “to the Borrower of (-$1,320.)  That’s right, for a $165,000 FHA loan, One Thousand, Three Hundred & Twenty Dollars (-1,320) would be paid to the Buyer, to borrow money from us in exchange for us Lending them 30 year Fixed Rate money at 3.250%  This is real… ☺

The 3.250% is based on our Rates as of Friday, April 5th, 2013 with 680 credit scores.  APR is 4.455%.  The Lender Credit and/or Interest rate may be better or worse for the borrower depending on Loan program, loan amount, Interest Rate, or whether credit score is higher or lower than 680.