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Rates are down today. Today’s rates with no lender fees are 3.50% APR on a 30 year, 2.875% APR on a 15 year and 2.750% APR on a 10 year. (click here for details)

Today, we are going to go over the top 5 responses from you guys when working with a Rates In Motion approved lender. These are actual email responses to lenders in my network. They are always fun to read and make me laugh. So I thought I would share them with you today.
Check it out in today’s video:

5. How are you able to credit so much money to lower my closing costs? All the other lenders I talked to never even mentioned crediting overages.
4. Is this a arm or a balloon mortgage? I haven’t found this good of a deal anywhere.
3. My lender said to get a Good Faith Estimate and send it to him. He said you wouldn’t give me one because it’s not possible to get this deal.
2. How do you make any money with those rates and costs? My lender said if you can get me this deal to go with you. He can’t touch it.
1. My current lender said there is no way you can get me this deal. It has to be some kind of trick or something. He said it is way to good to be true.
I love getting these from my network. It’s simple, you guys. There are amazing deals on mortgages if you know where to look. If you are talking to a lender with a high comp schedule or one that is not set up to give you the best possible deal they have at first look, then you are talking to the wrong lender.
Sorry if I offended some lenders. Just kidding, no I’m not. It’s 2012! Lenders – if you don’t see the advantages of giving your customer the best deal and doing 20 loans a month vs gouging your clients and only 2 or 3 loans a month, then I can’t help you. Your business model is flawed. Don’t blame me if your potential client sends you my video and asks why you didn’t give them this deal.
If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.
Let’s change the way people shop for a mortgageā€¦forever!
– Mike
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below.

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