James B. Nutter & Company doesn’t charge so-called “junk fees.” We’ve built our business on fairness. Such costs simply aren’t necessary and they certainly aren’t in the best interest of you, the homeowner. But junk fees have become a major source of extra income for some mortgage lenders, charging as much as $2,500 in unnecessary closing costs. For most people, buying a home is the biggest single investment they will make. We think that’s well worth taking the time to understand what’s involved. Why pay more when you don’t have to? Getting the best value starts with a well-informed buyer.
False. The lowest rate does not always equal the best loan. There are three cost factors involved in a mortgage: rate, terms and closing costs. Most mortgage company’s quote low rates, but will charge high fees and closing costs because they know most people shop for the lowest rate. But their customers end up paying much more due to inflated points, extra fees, and closing costs. Smart shoppers compare all three – and save. Call us, and we’ll show you the difference that can save you big money.
If Company A and Company B have the same rate and the same terms, but Company A charges $1,700 more in closing costs than Company B – Company B is the best deal. It’s as simple as that. But you have to compare closing costs to know that.
False. That’s basically a myth. We believe our firm offers the lowest rates around – and we don’t charge excessive fees. Again, the key is for the consumer to compare the offerings of several mortgage bankers.
Ask for a “Good Faith” estimate of rate, terms and closing costs – before making an application. Too many buyers ask only about the first two, thinking closing costs are the same. Then bring it to us and compare.
True. HUD wants the borrower to know such markup closing costs are not standard; they aren’t charged by all firms. HUD does want competition to drive them out by offering better deals to the consumer.
We agree. We feel we offer the best deal out there. Let the borrower have the right information and he or she will choose correctly. This is a very sophisticated generation when it comes to knowing mortgage rates; they just need to know the whole story. We see this happen every day when customers bring us offerings from other lenders. We want people to ask us questions. When you call James B. Nutter & Company, you will always talk to a real person who can help.
False. Ask if your mortgage banker is going to keep your loan. If the loan is going to be sold, do not assume this will not affect you.
When a mortgage is sold to another company, it may mean you end up as only a number to a huge company far away. Horror stories abound in this area. Again, ask questions.
You are better off if the mortgage banker lending you the money keeps your mortgage. Read more about the importance of working with a mortgage lender who services their own loans.
True. Compare the rate, terms and closing costs. Ask questions. Just like buying anything else. You’ll be glad you did. Come on home to Nutter Home Loans, offering straight talk – low-cost mortgages – and no junk fees, since 1951.