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HLS
ParticipantNice set-up..
“rates seem to good to be true” ??They appear to be a lot higher than my rates.
Misleading programs, appears to be adjustable rate.READ THE FINE PRINT. Lots of exceptions and disclaimers. I’m not sure if it was this company or another with a similar offer, but I’ve had callers with complaints about being misled by these gimmicks.
The basis for a purchase appears to be that they rebate part of the sales commission to compensate for the loan.
I can arrange that for buyers also. A rebate of part of the commission, EXCEPT I don’t mislead people with lots of fine print and disclaimers.
“effective” rate of APR is another gimmick.
They appear to overcharge in rate. There are no free loans. There ARE gimmicks that confuse people and sound better than they really are.
You must be associated with them to say that about their rates.
Caveat Emptor… HLS http://www.HomeLoanSheldon.com
email: [email protected]ParticipantJ,
I’m not sure what the source of your information is, but it is WRONG. Please correct me if you have FACTS that are different.
On an FHA loan PMI IS REQUIRED for 5 years, regardless of a down payment. Even with 50% down, FHA loans have PMI, for 5 years.
Just to make sure that you understand, EVERY 30 year FHA loan has PMI for 5 years.
(If you get a 15 YR FHA loan with up to 10% down the PMI is less. If you get a 15 YR FHA loan with at least 10% down there is no PMI)
EVERY FHA loan comes with an upfront 1.75% fee.
On a $400K loan that is $7000.00. This fee doesn’t exist on “conventional” financing. (FNMA & Freddie)
FHA rates are not better than conv. A waste of money, but the price to pay for help from the govt.You are partially correct that MOST mortgage brokers are out for the commission and MOST are not any kind of advisor.
In every industry/profession there are incompetent, dishonest people, many have degrees.
Many employees are lazy & useless tooThe problem is the profit that most mortgage people want to make.
The fact is that a good mortgage consultant can save people a lot of money in various ways.
Yes they make money by doing it.Do you REALLY think that you are going to get a loan anywhere that the originator is going to lose money on ?
Banks make profits on loans and you often deal with a clueless bank employee who is told what to say and only offers the bank RETAIL products. They mislead people by telling them that they have no fees, which is misleading. They charge a higher rate which leads to a higher payment for the life of the loan, costing the borrower a small fortune in the long run.
Mortgage brokers have access to money at wholesale rates, not retail. If their markup is reasonable, you can get a better loan from a broker.
Believing that FHA is the best loan is wrong. For most people, FHA is the WORST loan possible.
If you have a crappy credit score and only 3% down, then FHA might be your only option.
In my opinion if you only have 3% down you shouldn’t be buying a house.FHA is a govt program which supposedly helps people. Over the years it has allowed many people to buy a house, but for the uneducated consumer they may have had better options.
Yes, I am in the business. I’m a mortgage consultant who educates people of their options and has a very reasonable fee to do it.
Anyone that you have given your opinion to is now misinformed, spreading more ignorance and myth rather than facts. BEWARE OF IGNORANT PEOPLE…
HLSParticipantJ,
I’m not sure what the source of your information is, but it is WRONG. Please correct me if you have FACTS that are different.
On an FHA loan PMI IS REQUIRED for 5 years, regardless of a down payment. Even with 50% down, FHA loans have PMI, for 5 years.
Just to make sure that you understand, EVERY 30 year FHA loan has PMI for 5 years.
(If you get a 15 YR FHA loan with up to 10% down the PMI is less. If you get a 15 YR FHA loan with at least 10% down there is no PMI)
EVERY FHA loan comes with an upfront 1.75% fee.
On a $400K loan that is $7000.00. This fee doesn’t exist on “conventional” financing. (FNMA & Freddie)
FHA rates are not better than conv. A waste of money, but the price to pay for help from the govt.You are partially correct that MOST mortgage brokers are out for the commission and MOST are not any kind of advisor.
In every industry/profession there are incompetent, dishonest people, many have degrees.
Many employees are lazy & useless tooThe problem is the profit that most mortgage people want to make.
The fact is that a good mortgage consultant can save people a lot of money in various ways.
Yes they make money by doing it.Do you REALLY think that you are going to get a loan anywhere that the originator is going to lose money on ?
Banks make profits on loans and you often deal with a clueless bank employee who is told what to say and only offers the bank RETAIL products. They mislead people by telling them that they have no fees, which is misleading. They charge a higher rate which leads to a higher payment for the life of the loan, costing the borrower a small fortune in the long run.
Mortgage brokers have access to money at wholesale rates, not retail. If their markup is reasonable, you can get a better loan from a broker.
Believing that FHA is the best loan is wrong. For most people, FHA is the WORST loan possible.
If you have a crappy credit score and only 3% down, then FHA might be your only option.
In my opinion if you only have 3% down you shouldn’t be buying a house.FHA is a govt program which supposedly helps people. Over the years it has allowed many people to buy a house, but for the uneducated consumer they may have had better options.
Yes, I am in the business. I’m a mortgage consultant who educates people of their options and has a very reasonable fee to do it.
Anyone that you have given your opinion to is now misinformed, spreading more ignorance and myth rather than facts. BEWARE OF IGNORANT PEOPLE…
HLSParticipantJ,
I’m not sure what the source of your information is, but it is WRONG. Please correct me if you have FACTS that are different.
On an FHA loan PMI IS REQUIRED for 5 years, regardless of a down payment. Even with 50% down, FHA loans have PMI, for 5 years.
Just to make sure that you understand, EVERY 30 year FHA loan has PMI for 5 years.
(If you get a 15 YR FHA loan with up to 10% down the PMI is less. If you get a 15 YR FHA loan with at least 10% down there is no PMI)
EVERY FHA loan comes with an upfront 1.75% fee.
On a $400K loan that is $7000.00. This fee doesn’t exist on “conventional” financing. (FNMA & Freddie)
FHA rates are not better than conv. A waste of money, but the price to pay for help from the govt.You are partially correct that MOST mortgage brokers are out for the commission and MOST are not any kind of advisor.
In every industry/profession there are incompetent, dishonest people, many have degrees.
Many employees are lazy & useless tooThe problem is the profit that most mortgage people want to make.
The fact is that a good mortgage consultant can save people a lot of money in various ways.
Yes they make money by doing it.Do you REALLY think that you are going to get a loan anywhere that the originator is going to lose money on ?
Banks make profits on loans and you often deal with a clueless bank employee who is told what to say and only offers the bank RETAIL products. They mislead people by telling them that they have no fees, which is misleading. They charge a higher rate which leads to a higher payment for the life of the loan, costing the borrower a small fortune in the long run.
Mortgage brokers have access to money at wholesale rates, not retail. If their markup is reasonable, you can get a better loan from a broker.
Believing that FHA is the best loan is wrong. For most people, FHA is the WORST loan possible.
If you have a crappy credit score and only 3% down, then FHA might be your only option.
In my opinion if you only have 3% down you shouldn’t be buying a house.FHA is a govt program which supposedly helps people. Over the years it has allowed many people to buy a house, but for the uneducated consumer they may have had better options.
Yes, I am in the business. I’m a mortgage consultant who educates people of their options and has a very reasonable fee to do it.
Anyone that you have given your opinion to is now misinformed, spreading more ignorance and myth rather than facts. BEWARE OF IGNORANT PEOPLE…
HLSParticipantJ,
I’m not sure what the source of your information is, but it is WRONG. Please correct me if you have FACTS that are different.
On an FHA loan PMI IS REQUIRED for 5 years, regardless of a down payment. Even with 50% down, FHA loans have PMI, for 5 years.
Just to make sure that you understand, EVERY 30 year FHA loan has PMI for 5 years.
(If you get a 15 YR FHA loan with up to 10% down the PMI is less. If you get a 15 YR FHA loan with at least 10% down there is no PMI)
EVERY FHA loan comes with an upfront 1.75% fee.
On a $400K loan that is $7000.00. This fee doesn’t exist on “conventional” financing. (FNMA & Freddie)
FHA rates are not better than conv. A waste of money, but the price to pay for help from the govt.You are partially correct that MOST mortgage brokers are out for the commission and MOST are not any kind of advisor.
In every industry/profession there are incompetent, dishonest people, many have degrees.
Many employees are lazy & useless tooThe problem is the profit that most mortgage people want to make.
The fact is that a good mortgage consultant can save people a lot of money in various ways.
Yes they make money by doing it.Do you REALLY think that you are going to get a loan anywhere that the originator is going to lose money on ?
Banks make profits on loans and you often deal with a clueless bank employee who is told what to say and only offers the bank RETAIL products. They mislead people by telling them that they have no fees, which is misleading. They charge a higher rate which leads to a higher payment for the life of the loan, costing the borrower a small fortune in the long run.
Mortgage brokers have access to money at wholesale rates, not retail. If their markup is reasonable, you can get a better loan from a broker.
Believing that FHA is the best loan is wrong. For most people, FHA is the WORST loan possible.
If you have a crappy credit score and only 3% down, then FHA might be your only option.
In my opinion if you only have 3% down you shouldn’t be buying a house.FHA is a govt program which supposedly helps people. Over the years it has allowed many people to buy a house, but for the uneducated consumer they may have had better options.
Yes, I am in the business. I’m a mortgage consultant who educates people of their options and has a very reasonable fee to do it.
Anyone that you have given your opinion to is now misinformed, spreading more ignorance and myth rather than facts. BEWARE OF IGNORANT PEOPLE…
HLSParticipantJ,
I’m not sure what the source of your information is, but it is WRONG. Please correct me if you have FACTS that are different.
On an FHA loan PMI IS REQUIRED for 5 years, regardless of a down payment. Even with 50% down, FHA loans have PMI, for 5 years.
Just to make sure that you understand, EVERY 30 year FHA loan has PMI for 5 years.
(If you get a 15 YR FHA loan with up to 10% down the PMI is less. If you get a 15 YR FHA loan with at least 10% down there is no PMI)
EVERY FHA loan comes with an upfront 1.75% fee.
On a $400K loan that is $7000.00. This fee doesn’t exist on “conventional” financing. (FNMA & Freddie)
FHA rates are not better than conv. A waste of money, but the price to pay for help from the govt.You are partially correct that MOST mortgage brokers are out for the commission and MOST are not any kind of advisor.
In every industry/profession there are incompetent, dishonest people, many have degrees.
Many employees are lazy & useless tooThe problem is the profit that most mortgage people want to make.
The fact is that a good mortgage consultant can save people a lot of money in various ways.
Yes they make money by doing it.Do you REALLY think that you are going to get a loan anywhere that the originator is going to lose money on ?
Banks make profits on loans and you often deal with a clueless bank employee who is told what to say and only offers the bank RETAIL products. They mislead people by telling them that they have no fees, which is misleading. They charge a higher rate which leads to a higher payment for the life of the loan, costing the borrower a small fortune in the long run.
Mortgage brokers have access to money at wholesale rates, not retail. If their markup is reasonable, you can get a better loan from a broker.
Believing that FHA is the best loan is wrong. For most people, FHA is the WORST loan possible.
If you have a crappy credit score and only 3% down, then FHA might be your only option.
In my opinion if you only have 3% down you shouldn’t be buying a house.FHA is a govt program which supposedly helps people. Over the years it has allowed many people to buy a house, but for the uneducated consumer they may have had better options.
Yes, I am in the business. I’m a mortgage consultant who educates people of their options and has a very reasonable fee to do it.
Anyone that you have given your opinion to is now misinformed, spreading more ignorance and myth rather than facts. BEWARE OF IGNORANT PEOPLE…
HLSDecember 31, 2008 at 3:57 PM in reply to: Refinancing to a rate below 5% without 20% equity… #322076ParticipantI assume you mean with less than 20% equity and a loan amount above 80%…..
Some lenders charge an extra .25% at origination if you don’t want an impound account. I don’t.
Up to 90%, I have options with better rates and no extra charge to waive an impound account.
Above 90.01%, I think that impound account may be mandatory per mortgage insurance requirements… HLS
December 31, 2008 at 3:57 PM in reply to: Refinancing to a rate below 5% without 20% equity… #322421ParticipantI assume you mean with less than 20% equity and a loan amount above 80%…..
Some lenders charge an extra .25% at origination if you don’t want an impound account. I don’t.
Up to 90%, I have options with better rates and no extra charge to waive an impound account.
Above 90.01%, I think that impound account may be mandatory per mortgage insurance requirements… HLS
December 31, 2008 at 3:57 PM in reply to: Refinancing to a rate below 5% without 20% equity… #322480ParticipantI assume you mean with less than 20% equity and a loan amount above 80%…..
Some lenders charge an extra .25% at origination if you don’t want an impound account. I don’t.
Up to 90%, I have options with better rates and no extra charge to waive an impound account.
Above 90.01%, I think that impound account may be mandatory per mortgage insurance requirements… HLS
December 31, 2008 at 3:57 PM in reply to: Refinancing to a rate below 5% without 20% equity… #322497ParticipantI assume you mean with less than 20% equity and a loan amount above 80%…..
Some lenders charge an extra .25% at origination if you don’t want an impound account. I don’t.
Up to 90%, I have options with better rates and no extra charge to waive an impound account.
Above 90.01%, I think that impound account may be mandatory per mortgage insurance requirements… HLS
December 31, 2008 at 3:57 PM in reply to: Refinancing to a rate below 5% without 20% equity… #322577ParticipantI assume you mean with less than 20% equity and a loan amount above 80%…..
Some lenders charge an extra .25% at origination if you don’t want an impound account. I don’t.
Up to 90%, I have options with better rates and no extra charge to waive an impound account.
Above 90.01%, I think that impound account may be mandatory per mortgage insurance requirements… HLS
ParticipantH2B,
You certainly have some options. Feel free to contact me for some actual hard numbers and refi possibilities if you wish.
I respond as quickly as I can. ….HLS
ParticipantH2B,
You certainly have some options. Feel free to contact me for some actual hard numbers and refi possibilities if you wish.
I respond as quickly as I can. ….HLS
ParticipantH2B,
You certainly have some options. Feel free to contact me for some actual hard numbers and refi possibilities if you wish.
I respond as quickly as I can. ….HLS
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