Already working with a mortgage broker or lender? Send us your competing Good Faith Estimate and our mortgage consultants will help educate you so that you are armed with the information needed to make an informed decision and insure the best rates and closing costs for your next home loan.
In today’s mortgage industry it can be very difficult to compare “apples to apples” when reviewing Good Faith Estimates from multiple mortgage companies. There are many ways to structure loans by modifying fees and rates and nothing ever seems as straight forward as it should be. At Lone Star Financing our goal is to be up front with our rates and fees and educate our customers until they are confident they secured the best loan at the best possible rates and closing costs.
At Lone Star Financing our mission is to find the best mortgage loan types that offer the best lending scenarios for each individual’s situation. As a “broker banker” Lone Star Financing offers many competitive advantages over competing companies. Lone Star Financing offers direct wholesale lending. As a “mortgage banker” Lone Star Financing is able to offer direct wholesale lending prices just like Bank of America, Wells Fargo, Citibank and other major banks. But as a mortgage “broker banker” Lone Star Financing also has the abilities to broker your loan to other major mortgage lenders in Texas. So should one of the Lone Star Financing correspondent lenders not be able to provide a certain rate or product, then we are able to search outside of our bank to find other loan products that best fit our clients needs. This ability as a mortgage broker-banker gives Lone Star Financing more loan products and the best possible rates for our customers.
So how does Lone Star Financing offer better rates than the major banks? As a mortgage bank ourselves, we are able to offer the same direct wholesale prices to our customers as the major banks, but because Lone Star Financing is privately owned and doesn’t have the bureaucracy and overhead as larger banks (we don’t have board member’s and shareholders to satisfy) we are able to reduce our fees and rates even further than the major banks. Couple this competitive advantage with the fact we also have the ability to broker loans to secondary markets and it simply means that Lone Star Financing can offer more loan products with better pricing. This includes both major banks as well as the traditional mortgage broker companies.
This is why we aren’t afraid to go head to head with competing GFE’s. In fact we encourage it and the reason we offer free consultation and GFE reviews. If you aren’t shopping your Good Faith Estimates, then chances are you are paying more in either fees or a higher rate and leaving money on the table. Call us today and one of our friendly loan consultants will review your Good Faith Estimate at no cost and help arm you with the information you need in order to know whether your GFE is out of line or has any hidden fees that you should negotiate.
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