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Mortgage Loan Outlet has partnered with mortgage lenders across the country to provide consumers with all types of home loans. If you are a homeowner who wants to access your equity to reach your financial goals, then you have come to the right place! We can help you find the right Mortgage Lender today!

Mortgage rates have fallen again, and now is the time to take advantage of the equity in your home to consolidate high-interest debts, make long-awaited home improvements, or cash out and finance that dream vacation or your child's education! You deserve a Mortgage Lender who will listen to your unique needs.

We are a Mortgage Lender who wants to help you find the best loan program at a rate that you can afford. Don't wait until it's too late to save yourself hundreds or thousands of dollars - let us help you today!

Mortgage Lender FYI

Book Shows Borrowers Ways to Get Advantage in Dealing With Mortgage Lenders
Jan. 7--If you've ever suspected there was something you didn't know about mortgage loans and refinancing, you're right.

Chances are what you didn't know is still eating a hole in your checking account.

Craig Ward, a 56-year-old Jacksonville resident with more than 20 years of mortgage banking experience, says that's just part of the game. He's written a primer about the process that could save readers money, but he says his greater aim is to change the rules of the game.

"Lenders Secrets Revealed, What Real Estate Lenders Don't Want You To Know" is a no-holds barred examination of an industry that has never been so flush because of low interest rates.

"People are really being taken advantage of when they take out a real estate loan," Ward says. "They're overcharged on closing costs, overcharged on interest rates and on points."

Ward says lower than posted rates are possible, even plausible.

"But people don't know anything about the lending industry and are intimidated," he says.

Ward worked in bank mortgage departments in California and later with U.S. Bank in Southern Oregon before winding up his lending career with First Horizon Mortgage.

While the 217-page book has exposé traits, it doesn't take aim at particular lenders.

"It's not at all sour grapes," Ward says. "This is something I thought about for 10 years or more. I could see what was going on and wanted to do something about it."

He says most any lender has wiggle room from published rates.

He suggests if a lender quotes a 6 percent rate and 1 point -- or 1 percent of the loan total paid upfront -- that a borrower counter with 5 percent with 1 point.

"Every lender has 1/8 percent of play without having to ask his boss," Ward says. "No one knows that, but every lender knows it."

He notes a 1-point loan fee seems reasonable, but what borrowers don't know is that lender rebates account for another point or two for the mortgage processor.

"The point is that a lender should be making 1 point," he says. "If you're making 1 point on all your clients, you're going to be making $250,000 a year."

The author says the largest commission he made on a single transaction was $15,000 on a loan for a California anesthesiologist.

"I got a big, fat lender-rebate on that one," he says, He made 2 points, or $7,000, on a $375,000 loan for a Hollywood producer here in Jackson County.

"A good loan officer should get about $125 an hour for what they do," he says. "Most loans take about four hours and that would be $500 to $600 commission."

The author says he has no problem charging an extra point if clients are argumentative and slow in turning in documents.

Although there has long been a wealth of material for borrowers to review before taking the mortgage or refinancing dive, Linda Cade, housing director for Consumer Credit Counseling Service in Medford says "People will still say I think I should be doing better than I am."

Even borrowers who have been around the block encounter difficulties.

"I would say people still feel it's a mystery to them," Cade says. "Sometimes they should know more than they do."

Both Ward and Cade say many lenders have replaced points with origination fees. Ward says that amounts to a point.

One way borrowers can overcome fees is by pitting lenders against one another.

Ward recommends paying for multiple credit reports and holding off on appraisal fees until a loan is approved. Then with 10 words ("The other lender is waiving the processing fee, will you?") the borrower can save hundreds of dollars.

Benefits of using the Top Mortgage Lenders

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Program Highlights

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Freddie Mac's weekly survey of mortgage rates released Thursday showed that rates on 30-year, fixed rate mortgages averaged 4 percent for the week ending November 6th.

For most of 2011, rates on benchmark 30-year mortgages averaged 4.25% percent, second only to last year's 4.125 percent, the lowest annual rate in Freddie Mac's record keeping.

Take out a Home Improvement loan and make those cosmetic changes that you've been talking about. In most cases, making home improvements increases the value of your property. Home Improvement Loans!

"No Income Verified" Debt Relief Programs - Is your income difficult to prove? We have debt consolidation mortgage loans that do not require the standard income documentation. (like W2's)

Do you have Less-than-perfect credit? - We specialize in debt consolidation loans even if your credit is in "the rebuilding phase".

Bankruptcy or Foreclosure - Even if you've had a bankruptcy, or foreclosure in the past, we will do our best to get you qualified for a debt consolidation loan.

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