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hi if you’re looking for a mortgage or perhaps you’re into education basin
0:04you’re confused by all the numbers the fees and everything that goes into the
0:06question
0:07what are your interest rates or water mortgage lender species are
0:11how I know I’m getting the best interest rates I’m gonna make would seem
0:15may seem very confusing very easy for you to understand
0:18for small don’t make the mistake of asking a mortgage lender bank took 11 a
0:2230-year fixed-rate because
0:24three quotes from three different banks will mean nothing to you when it’s time
0:27to close
0:28choosing the right loan originator is important because the right person what
0:32educate you and give you the real picture
0:34the whole picture now the first thing is this
0:37rather than looking face value with the interest rate we need to look at
0:41APR which stands for annual percentage rate
0:44APR is a better way for you to understand where youre really paying for
0:48when it comes to looking at
0:50your mortgage quote APR calculations take into consideration all the fees
0:54associated with that lone
0:56in addition a mortgage in out mortgage interest rates
0:59which makes find the best mortgage really easy the lower the APR
1:04the better deal right well yes and now
1:07I’ve had a lot of customers come to me and say hey this bank or a mere 80
1:12you know an aide to a point better than you the near quo can you match it
1:16so I always ass and a forward me the quote I get a better picture
1:20a what their consumer was really quoted inevitably
1:24in this particular customer he was quoted a price there was much higher
1:28when you look at the entire financial picture let me explain
1:31you should not trust the APR long for an accurate understanding about Shrek
1:36awesome here’s why
1:37there’s no stain or laws which fees I have to be included
1:41in in the PR essentially allowing lenders to choose what goes into the
1:45calculation
1:46and what doesn’t not to mention the calculation itself is based on another a
1:51number of assumptions
1:52that often don’t hold to be true you have to know how lenders are positioning
1:57their fees to avoid excessive charges
1:59on your closing costs now there’s no standard when
2:03when it comes to what’s included in the PR lenders may choose to include some
2:07pieces par the APR
2:09of others care cap separate
2:11and third-party fees like tight or appraisal fees are always left out
2:15and most importantly time for you to know is a closing costs vary from lender
2:20to lender
2:20some beans which consumers a lower rates but have have to your fees what others
2:25do the opposite
2:26I’ll be brief and to the point where the while APR is a good starting point for
2:31narrowing down offers
2:33you have to dig a little deeper really understand the true cost of
2:36any long before committing movies cost are with a good faith estimate better
2:42known as the GFP
2:43the GFP is a list of all the fees will be charged to you
2:47at for your home loan including the charges that would otherwise not be
2:51included in the APR
2:52lenders are required to providing this information
2:55well only an estimate the GFP will give you
2:59a viewpoint of all the fees item by item and identify any
3:03in cynicism overcharging are happier feeds the average consumer has limited
3:07understanding in the total cost for mortgage
3:10and for most people this is the biggest purchase the you ever make
3:13so it’s worth the time a turnover reach rockin work with someone who really
3:17knows this business
3:18and most importantly is upfront and honest with you
3:22in with their approach it mere my staff can be of assistance %um anyway she
3:26perform
3:27please don’t hesitate to call us our numbers block thank you watch this video
3:31click on any my social media links below for product videos like
3:35low-down no down mortgages getting a mortgage when passed credit issues
3:39home loans for small business owners in much more again thank you very much
3:43and have a great day