Compared to banks located in North Carolina, the David M. Damaré Team can save you $2,500 to $4,500 in closing cost fees. How could this possibly be? Banks are no longer depository institutions. For a number of years they have engaged in lending money under a separate set of federally recognized rules and regulations, devised by the banks themselves, as a means to make money.
Banks are supposed to provide home mortgage loans for a competitive price, right? Think again. The banking regulations allow upfront fees to be collected in order to begin the “pre-approval” process. Many consumers discover after they’ve put down a deposit, they do not qualify for a loan, and the up-front fees are non-refundable.
With some research prior to entering the pre-approval process, consumers will soon discover banks and national lenders less appealing and far more costly than The David M. Damaré Team, a private and local licensed mortgage lender. A quarter of a point (the average interest rate difference between the nation’s largest lender and The David M. Damaré Team), can mean a lot of change back in your pocket.
The interest savings on a $200,000 loan at 3.5% versus 3.75% is $10,131.56.
Contact the David M. Damaré Team for more information about your first home mortgage loan or refinancing your home mortgage for a better rate than your big bank.
*Some restrictions and exceptions apply. Minimum loan amount for no closing cost is $200,000. Minimum credit score 740 or greater. Purchase or rate/term refinance only and if refinance, your current loan must be at least 6 months old. Escrows apply. For lower credit scores, cashout refinances, condos, and loan to value greater than 80%, rates and cost will be higher.
“Mortgage Lending is Our Business: Customer Service is Our Passion.”
Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you. David. 919.851.0999.
Raleigh Mortgage Man, NC Mortgage Man, Triangle Mortgage Man, Triangle Mortgage Expert all owned and licensed by David M. Damare’. All rights reserved.