Should you use a Direct Lender? Direct Lender - Should you use a direct lender? Find Mortgage defintions using this morgage glossary - Apply Online or Call Us Today at 1-888-835-0761...


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The Advantages of a Direct Lender
 
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             Points Explained
Mortgage Points Explained
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              Fees Explained
Fees Explained
  What are the 'real' costs of my California Mortgage? This will help explain exactly where your money is going - and where it shouldn't be going...
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Direct Lender - Why Use One?

Suppose you were in the market to buy a new car. Would you go to a single dealership and expect to find the perfect car at the perfect price simply because you're buying directly from the dealer? Of course not. It is very similar with mortgages.

The fact is that there are countless mortgage programs based on countless 'guidelines' for determining acceptance. The variety of programs and rates varies greatly from lender to lender. Because of this the odds are very much stacked against you finding the 'perfect' mortgage from a single direct lender. Direct Lenders have one group of programs. That's it.

The advantage of a broker is that they can choose from the thousands of lenders to select the program that offers the lowest rate for your specific loan. Some people fear higher costs by using a broker as opposed to a Direct Lender. This is sometimes the case. What must be kept in mind, though, is that Direct Lenders make their money off of the interest you pay on the loan---not the Closing Costs...and over a 5 year period the amount you pay in interest will likely be over 50 Times the amount of your closing costs. In other words, Closing Costs must be viewed in relation to your Interest Rate. In fact, Interest Rates are more important than closing costs (especially since there are laws in place that prevent excessive loan charges). So sure, sometimes a Direct Lender offers lower closing costs. The interest rate, however, is rarely lower and that is what will affect you the most over the coming years.

 
 

Should You Use a Mortgage Broker or a Direct Lender?

Anyone considering morgage refinance should first find out your real estate home values visit USFreeAppraisals... Be sure to visit our Los Angeles Real Estate resource or our Orange County Real Estate for more Southern California Real Estate info. To apply for your morgage fill out this application completely. For physical therapy here's your Orange County Massage Therapy. Thank you again for choosing Ascendant Financial as your Low Rate California Mortgage Loan brokerage of choice.

MORGAGE GLOSSARY

Amortization | Amortization Schedule | Annual Percentage Rate - APR | Biweekly Mortgage | Bridge Loan | Cash Out | Conforming Mortgage | Conventional Morgage | Debt To Income Ratio | Direct Lender | Discount Mortgage Broker | Discount Points | Good Faith Estimate | Grace Period | Impounds | Interest Only | Jumbo Morgage | Loan To Value | LTV | Negative Amortization | No Ratio | Option Arm | Piggyback | PITI | PMI | Prepayment Penalty | Reverse Mortgage | Subprime | Truth in Lending | Wholesale Lender | Yield Spread Premium | YSP

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