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    Will You Add? - When Banks Compete, You Lose!

    Finding A Personal Budget That Can Work For You
    A good way to prevent yourself from digging yourself further and further into debt is to form a personal budget that can work for you. Many people spend their hard earned money frivolously without having much regards to how much money they will have left before their next paycheck comes. They will often find themselves having no money left and ending up having to borrow from a lender just to pay essential bills or provide for their family. The problem with this type of spending is that you tend to incur debts that will begin to cause added problems with your finances that you become unable to pay o
    belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the

    Business Case Study; What Causes Over-regulation?
    Have you ever considered what causes the government to make more laws and rules which impact business? Most of these rules and regulations cost the consumer more money because it costs money to companies to follow access rules and they pass these costs on to the consumer.It is interesting because the government regulatory bodies promised that they are making the rules to protect the consumer and yet all they do is raise prices. As a consumer I do not feel protected by having to pay higher prices; how about you?When we see a business or corporation breaking the law we may realize th
    Huh? How can that be? Didn't Lending Tree tell me differently? Yes they did!! And they are kind of right, banks competing for your business does help you obtain a lower rate. Borrowers should shop around, getting a quote from both a bank and a mortgage broker. Compare what you have been offered and make an informed decision....But if you use one of the 4 or 5 companies that Lending Tree ‘sells your information to' then you have to cover their overhead that came from Lending Tree. So, now that you are getting this info, you can make an informed decision about exactly ‘how' to shop around and ‘how' to engage a lender/broker.

    First, lets look at the facts, it takes a considerably amount of money for a broker/lender to sign up with Lending Tree(or the many other lead generation websites). Thousands of dollars!! $10,000 is a number that I have heard from people who have used them to get leads. Then on top of that there is a fee per lead or a fee after the loan funds which can be in the hundreds of dollars. Who pays that? Do you think the lender/broker pays all of that money just so they can offer you the same rates as everyone else? Or do you think they have figured in the costs associated with buying your information when they offer rates and fees? I bet it is the latter....

    Next, let's consider why people ‘buy leads' from Lending Tree. Do you think maybe it has something to do with the fact that those loan officers aren't getting enough referrals from their friends, families and networking partners? It sure does!! Actually, these loan officers that buy mortgage leads are typically new loan officers who haven't built up a network of influence for referrals. Basically, they buy leads because no one is sending business to them!! Do you want to trust your most important financial transaction to rookie loan officer? I wouldn't. Now, while there are some very good loan officers who use ‘purchased leads' as a way to diversify.... I believe that most consumers can do better for themselves by getting referred to good loan officers and doing their own comparison shopping without letting a lead generation website add on some costs.

    Have you figured it out yet? Lending Tree spends millions of dollars on marketing/advertising to get the phone ringing. They cover those expenses by selling your information to a bunch of ‘wet behind the ears' loan officer so these rookies can handle the most important financial transaction that most people will ever make!!

    Lets take a pause. Let that last statement sink in.......... kind of scary, huh?!?!

    Lending Tree is right, when banks compete you win but they left out the part about how thousands of professional loan officers in the business can offer better terms and rates without the added expenses from the lead generation companies.

    So, how do we find a loan officer to handle this most important transaction? How do we know who to trust? As you may have guessed, the DallasLoanGuy has some advice on that topic.

    First, I always suggest to folks that they ask friends and family or maybe a trusted co-worker who they closed their home loan with and how they felt about the whole transaction. Next, try asking someone like your CPA or Financial Advisor. These folks know financing. They may even have a relationship with a trusted lender. Realtors are also a good source. They refer business to loan officers several times per month. And with many transactions under their belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the G

    Loans - Improve Your Chances for Approval
    If you are in need of a business or real estate loan, there are steps you can take that greatly improve your chance of success. The first and most obvious is to make sure your credit rating or FICO score is as high as possible.When you apply for a business or real estate loan, the lender will "pull your credit report" to see if you are credit worthy. Did you know that every time someone "pulls' your report it causes your credit rating to go down? If you have a credit score of 680 at the start, you may find it goes down to 650 after you allow several credit reports to be pulled. It's impo
    ple who have used them to get leads. Then on top of that there is a fee per lead or a fee after the loan funds which can be in the hundreds of dollars. Who pays that? Do you think the lender/broker pays all of that money just so they can offer you the same rates as everyone else? Or do you think they have figured in the costs associated with buying your information when they offer rates and fees? I bet it is the latter....

    Next, let's consider why people ‘buy leads' from Lending Tree. Do you think maybe it has something to do with the fact that those loan officers aren't getting enough referrals from their friends, families and networking partners? It sure does!! Actually, these loan officers that buy mortgage leads are typically new loan officers who haven't built up a network of influence for referrals. Basically, they buy leads because no one is sending business to them!! Do you want to trust your most important financial transaction to rookie loan officer? I wouldn't. Now, while there are some very good loan officers who use ‘purchased leads' as a way to diversify.... I believe that most consumers can do better for themselves by getting referred to good loan officers and doing their own comparison shopping without letting a lead generation website add on some costs.

    Have you figured it out yet? Lending Tree spends millions of dollars on marketing/advertising to get the phone ringing. They cover those expenses by selling your information to a bunch of ‘wet behind the ears' loan officer so these rookies can handle the most important financial transaction that most people will ever make!!

    Lets take a pause. Let that last statement sink in.......... kind of scary, huh?!?!

    Lending Tree is right, when banks compete you win but they left out the part about how thousands of professional loan officers in the business can offer better terms and rates without the added expenses from the lead generation companies.

    So, how do we find a loan officer to handle this most important transaction? How do we know who to trust? As you may have guessed, the DallasLoanGuy has some advice on that topic.

    First, I always suggest to folks that they ask friends and family or maybe a trusted co-worker who they closed their home loan with and how they felt about the whole transaction. Next, try asking someone like your CPA or Financial Advisor. These folks know financing. They may even have a relationship with a trusted lender. Realtors are also a good source. They refer business to loan officers several times per month. And with many transactions under their belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the

    What Are Insurance Policy Loans?
    Do you own an insurance policy? Most of us do. If you own a policy, are you aware that in certain circumstances, you can actually take out a loan through your insurance?People enter into insurance contracts because they would like to have something to fall back on in case they experience a loss in the future. The contract of insurance provides that the insured or policy holder must pay premiums during a specified period and when the maturity period comes, the insurer or the company paid to manage the risk is mandated to pay the policy holder the agreed proceeds.An insurance contract
    ing business to them!! Do you want to trust your most important financial transaction to rookie loan officer? I wouldn't. Now, while there are some very good loan officers who use ‘purchased leads' as a way to diversify.... I believe that most consumers can do better for themselves by getting referred to good loan officers and doing their own comparison shopping without letting a lead generation website add on some costs.

    Have you figured it out yet? Lending Tree spends millions of dollars on marketing/advertising to get the phone ringing. They cover those expenses by selling your information to a bunch of ‘wet behind the ears' loan officer so these rookies can handle the most important financial transaction that most people will ever make!!

    Lets take a pause. Let that last statement sink in.......... kind of scary, huh?!?!

    Lending Tree is right, when banks compete you win but they left out the part about how thousands of professional loan officers in the business can offer better terms and rates without the added expenses from the lead generation companies.

    So, how do we find a loan officer to handle this most important transaction? How do we know who to trust? As you may have guessed, the DallasLoanGuy has some advice on that topic.

    First, I always suggest to folks that they ask friends and family or maybe a trusted co-worker who they closed their home loan with and how they felt about the whole transaction. Next, try asking someone like your CPA or Financial Advisor. These folks know financing. They may even have a relationship with a trusted lender. Realtors are also a good source. They refer business to loan officers several times per month. And with many transactions under their belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the

    Mortgage Broker Training Article: So You Want to be a Top Producer??
    First of all, many studies have been performed on top producers. No matter what field of sales they are in, top producers always seem to have a common thread. This has led me to believe that success is a recipe. What I mean by this is wherever you find success, you will find certain ingredients. Unfortunately, many mortgage brokers focus on the WRONG ingredients. This became very clear to me, only when I began teaching. I say this because some of the brightest and most capable of my students are also the poorest! Before I break into that though, let's look at the key ingredients that MUST be presen
    ight, when banks compete you win but they left out the part about how thousands of professional loan officers in the business can offer better terms and rates without the added expenses from the lead generation companies.

    So, how do we find a loan officer to handle this most important transaction? How do we know who to trust? As you may have guessed, the DallasLoanGuy has some advice on that topic.

    First, I always suggest to folks that they ask friends and family or maybe a trusted co-worker who they closed their home loan with and how they felt about the whole transaction. Next, try asking someone like your CPA or Financial Advisor. These folks know financing. They may even have a relationship with a trusted lender. Realtors are also a good source. They refer business to loan officers several times per month. And with many transactions under their belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the

    Renovation Financing-Achieving The Interior Design You Want Without Losing Your Life Savings
    Renovation financing is a good way to fund your dream home’s upkeep, maintenance and giving it that great new look. Renovation loans are available if your premise is in a state of disrepair, is unlivable, needs an upgrade or if you want to just put in new kitchens, bathrooms etc.   Even drastic improvements like completely removing all the built structure and rebuilding it using existing foundations can also be sometimes funded by Renovation financing. Although financing a home can be supported by your personal finances, sometimes it does make sense to finance the project especially if your hom
    belts, they certainly know who is competent and who is not. Now, that you have been referred.... What's next?

    Mortgage Bank or Mortgage Broker? Which is right for you...?

    Most borrowers these days have seen better rates/fees through brokers. Direct lenders can and do offer competitive deals, but usually those are for the ‘vanilla borrower' who has a bag down payment and no job gaps or other issues that make their deal unique. But how do you really know for sure? Get a quote from one of each. Compare the ‘Good Faith Estimate'(GFE) for rates and fees. Pay particular to the fees numbered in the 800's. The other fees are charged by third parties and the lender does not control these costs. Don't get suckered into a loan with low third party fees to only get surprised later.

    Need help? Your realtor/CPA/financial advisor can help you compare the GFE from each loan officer to determine which is the right deal for you.

    Remember, this could quite possibly be the most important investment in your portfolio. Do your homework and don't be afraid to ask questions.

    DallasLoanGuy.com does Texas Home Loans statewide. I am a loan officer for a Mortgage Broker in North Dallas. Please consider my bias when you read my article. LOL

    Tom Burris

    DallasLoanGuy.com

    Dallas, TX

    "A Home Loan for Every Texan"

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