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 | Mortgage Profit Revealed Ebook | |
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 | |  | | E-book Category: Home
E-book Title: Mortgage Profit Revealed
Book Description: "You Will Never Look at Mortgage or Refinance Interest Rates the Same Way Again!"
You are about to learn how to shop, and receive, wholesale mortgage rates and cut your closing costs at the same time. The exact same way mortgage professionals do mortgage financing for themselves!
What is a wholesale interest rate?
When you apply for a mortgage, whether it be for a purchase or to refinance your current mortgage, it is a natural response to research what interest rates are. You look on the internet, in the newspaper, or simply stop tuning out the barrage of interest rate advertisements on TV, radio, billboards etc... Everywhere we look these days it seems there is an advertisement for mortgage or refinancing lenders.
The one thing that all these advertisements have in common is that they are ALL retail. You see, interest rates on mortgages and refinances are literally presented to you and I with a "markup" on them which results in profit for the company doing your loan. The interest rate before the markup is called the "par" rate and the profit is called YSP. For more extremely detailed information Order Here.
Does it cost more in closing costs to get wholesale interest rates?
Absolutely not! In fact, with the profit strategies that I reveal you will be able to lower your closing costs as well as obtain wholesale interest rates.
Here are a few things to think about.
Do loan officers pay the same interest rate that you do (all credit issues being equal)?
Do they pay points to lower their rate?
Are their closing costs the same as ours?
The answer to these questions is NO.
There is profit in many places in a mortgage and in a refinance too. I am not talking normal acceptable levels of profit; I have no problem with someone making a living. I am talking about thousands upon thousands of dollars that you simply do not have to pay. The only reason you pay them now is because you don't know they exist. And the harm in not knowing is much worse than just loosing money.
How bad is paying a higher interest rate than I have too?
Sometimes we underestimate the huge impact a slight change in an interest rate can have on us. Remember that when you start shopping for a home, usually you don't know how much you can afford. You may have a rough idea but you allow either a loan company or a real estate agent actually tell you how much money you have available to you to shop for a new home (aka being pre-qualified). This information then dictates your buying power.
Let us assume that you can afford $1200 in house payments and you have been pre qualified for $200,000 at 6% interest rate which is principal and interest of $1199.10. You would start your home search for a $200,000 home. Now what if you could have gotten a 5.5% interest rate? The payment on a $200,000 home at 5.5% is $1135.58 or $63.52 less per month. But you can afford $1200 per month! At 5.5% interest $1199.10 per month will buy you $211,188. That is $11,188 MORE buying power.
Little Bit About Interest Rates.
Here are a few facts.
Your interest rate fluctuates up to 30% based on the YSP markup.
The YSP markup is in the control of the loan officer. Giving them full control over how much home you can afford to buy.
The idea that "points" must be paid to achieve certain rates is simply not true.
The only reason that this has and/or will happen to you is because you do not have the information.
I have gone into great detail in my book. The hidden interest rate profit is one very small part of the puzzle. I urge you to consider buying your copy now. If you are in the process or think you ever will be you will want a copy of this information. After payment you will be redirected to the download page immediately!
I would love to keep typing and hype the heck out of my work but I know that is simply a waste of both our time. I have intentionally kept the content of this page and the price of my book to a minimum. I have barely scraped the information in my book on this page but I am sure you can see the positive impact this information can have on you and your family.
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