Why Choose Amerisave – Part Two, Guaranteed Closing Cost in Writing

 

Hey Folks!

Thanks reading my post. I know you have a bunch of choices and I really appreciate you spending a few minutes here.

If you read part one you know that I am a Certified Upfront Mortgage Lender (CUML). Today I am going to post why you get the Lowest Cost Everytime when you work with me at Amerisave.

Many lenders and brokers make promises to their customers that they can not keep. The problem occurs when the customer goes to close the loan and is surprised by additional fees that were not disclosed initially by the lender.
This creates an obvious problem because many customers are not able to pay these additional funds causing them to lose the home that they have spent so much time searching for or lose the rate they had previously locked.
Amerisave guarantees in writing all closing costs that we have control over. The fees you see on our website ARE the fees you will receive at the time of application AND at closing.
There are some third party fees and government fees that are beyond the control of any lender; however, because Amerisave has closed so many loans in and around your locality we can estimate most fees with high accuracy.
* All Amerisave guarantees do not apply for customers applying for a mortgage in the state of Washington.

SureFee
Amerisave introduces a straightforward approach to home financing with our new SureFee product. SureFee provides you with the security of knowing that the lender fees on your loan are guaranteed not to change throughout the loan process.

Benefits of SureFee:

No Surprise Added Costs at the Closing Table.

Determining the True Cost of Your Loan is Easy and Straight Forward.

SureFee Makes Lender to Lender Comparisons Easy.

SureFee is one bundled fee for all lender fees.

Other mortgage companies charge a multitude of fees, some legitimate, some not. A complete list of lender fees you may find other lenders charging include:

• Application Fee
• Funding Fee
• Administrative Fee
• Transfer Fee
• Origination Fee
• Processing Fee
• Loan Setup Fee
• Wiring Fee
• Discount Fee
• Flood Certification Fee
• Tax Service Fee
• Underwriting Fee

What to Look for When Comparing Lenders:

• What are the total lender fees for a like product, rate and term?
• Do the third party fees look reasonable, and do all the expected third party fees appear to be listed?
• Taxes, prepaid and escrow items should be excluded when comparing one lender to another as these fees will be identical among all mortgage companies.

Does the SureFee amount ever change?

No. As long as the loan program and loan parameters you applied for does not change, SureFee will not change. In some cases, your loan amount may increase. You may decide to add a signor to your loan, or the LTV of you loan may change. In these cases SureFee may change. Amerisave will send you a new good faith estimate which will include your new SureFee amount. Once you have authorized us to proceed, your SureFee will once again be fixed and will not change again (unless something material happens to your loan application).

How can Amerisave offer this program when most mortgage lenders and brokers cannot?

Easy .. Amerisave is one of the top 25 online mortgage lenders in the country. Based on our nationwide mortgage lending experience and our sophisticated technology, we are able to accurately predict most all the costs associated with closing a loan.

Why are some third party fees and taxes not guaranteed?

The costs of such things as mortgage taxes, closing fees and title insurance varies widely by state, county and even city, additionally Amerisave has a network of over 5,000 providers all of whom charge slightly different fees. Determining the exact costs of these types of fees is difficult. Amerisave does however negotiate with all our third party providers to ensure you pay the lowest price available and receive the high level of service Amerisave requires.

* All Amerisave guarantees do not apply for customers applying for a mortgage in the state of Washington.

Tony Grego, CUML with Amerisave
Your Place with Great Rates
See them at www.amerisave.com/partner/agrego

 

Rate Watch for Wednesday, December 31, 2008 (New Year’s Eve)

 

Hey Folks!

Well folks it is New Year’s Eve and while I can go on about jobless claims, more Fed money for mbs and a dozen other things here is the long and short. Unless your closing on Friday it does not make much sense to lock. Wait for everyone to get back to work. Let the Fed’s pour some money in and when you see that 4.5% (or something close) that everyone is talking about, lock it.

What you need to do is get your “ducks in a row”. Place a application, get your income and asset docs to your lender (if you need one I will get the job done). Set up your appraisal and get ready to lock. We are all very busy and it is about to pick up. So help me help you. Get your application in.

Enjoy and Happy New Year

Tony Grego from Amerisave
Your Place for Great Rates!

Video of the Day - Happy New Year

 

Hey Folks!

Well today is the day. The day we reflect on the old and dream about the new. The day when we celebrate a New Year. Now while your ringing in 2009 some of us may know some people will do some crazy things. The attached video shows some things you may want to have folks (or yourself) avoid.

Enjoy and Happy New Year

Tony Grego from Amerisave
Your Place for Great Rates!

Video of the Day - Happy New Year

 

Hey Folks!

Well today is the day. The day we reflect on the old and dream about the new. The day when we celebrate a New Year. Now while your ringing in 2009 some of us may know some people will do some crazy things. The attached video shows some things you may want to have folks (or yourself) avoid.

Enjoy and Happy New Year

Tony Grego from Amerisave
Your Place for Great Rates!

Why Choose Amerisave – Part One

 

 

Hey Folks!

Thanks reading my post. I know you have a bunch of choices and I really appreciate you spending a few minutes here.

Now you know I post some fun things and some tips but my day job is that of a mortgage lender. I work with Amerisave because of the culture of low rates and fees. At Amerisave we just don’t talk the talk but we walk the walk. We do everything in writing and back everything we do with a $500 Low Cost Guarantee and a $1,000 Closing Guarantee.

So what does mean for you or your client? The job done right the first time period!

Over the next few days I will detail why you should chose Amerisave and myself for your mortgage needs. Since we put this in writing you can also read more details on my website at www.amerisave.com/partner/agrego.

Amerisave is a  Certified Upfront Mortgage Lender. So what does that mean:

Amerisave has been awarded the rare Upfront Mortgage Lender (UML) designation. The UML certification assures customers fair treatment in all dealings with Amerisave. Additionally, you are assured a fair and accurate interest rate and closing cost quote.
To be certified, Amerisave has met all of the UML requirements below. Read on to learn how Amerisave is dedicated to your satisfaction:

Requirement 1: A UML Must Provide Quick Access to the Market Niches it Prices On-Line.
The home loan market in the US is divided into millions of market niches and no one lender serves them all. Customers need a quick way to determine whether a particular lender prices the niche in which that customer lives. If not, the customer can go elsewhere without wasting time.

Requirement 2: A UML discloses all lender fees, including points, origination fees, and any fixed-dollar fees, and guarantees them to closing.
This assures borrowers that price information is complete, and that new fees won't be added or existing ones increased after they have committed to working with the selected lender.

Requirement 3: A UML discloses all third party fees with the best estimates possible, indicating which if any are guaranteed by the UML.

Requirement 4: A UML Provides a Clear Explanation of its Lock Requirements.
Mortgage customers need to know when they have the discretion to lock the terms of the loan. The explanation includes any required payments, processes that must be completed, how expired locks are handled, and whether the borrower and the UML are committed.

Requirement 5: A UML discloses all the information about its ARMs needed by customers to make intelligent decisions.
Customers need information on potential ARM performance – what will happen to the interest rate and mortgage payment under assumptions about future interest rates that make sense to the customer.

Amerisave discloses the index and margin used, as well as the interest rate caps, on all ARM's we offer. Simply search rates and click on "view" under "loan details" for the loan program and interest rate in which you are interested.

Requirement 6: A UML informs borrowers if its loan officers are compensated in a way that gives them a financial incentive to overcharge the borrower.
Loan officers often benefit financially if they can induce the borrower to pay more than the prices posted by the lender or broker. Where this is the case, the borrower ought to know about it.

Tomorrow I will detail why you get the Lowest Costs Everytime.

Tony Grego with Amerisave
Your Place with Great Rates

 

Rate Watch for Tuesday, December 30, 2008

Hey Folks!

Well the news is not all positive today. Consumer Confidence just came in at 38.0. This is a All Time Low. The consensus was for 43.8 and November’s reading was 44.7.

The good news is that rates have not changed from Monday’s close. We expect this to change. So if you are closing within the next 30 days I would recommend to lock today. With Amerisave we have a free float down program. Give me a call or email and I will give you all the details.

Thanks and have a Great Tuesday!

Tony Grego with Amerisave
Your Place for Great Rates

Video of the Day – Year End Wrap Up!

Hey Folks!

Hope everyone is great as we wrap the year up? Now if you have been following my posts you know I like to get the morning going by posting something a little fun.  While today’s video is titled “BANNED”, don’t worry. I’ve check it out and the source is from NBC. No language or visual challenges.

So sit back, relax, and get ready for a great new year.

As always when you need some help with your mortgage needs I am here to help. Today’s market reflect just about the lowest prices in history. I am sure I will the right program for your needs.

Kind regards,

Tony Grego with Amerisave 
Your Place for Great Rates

Rate Watch for Monday, December 29, 2008 - A Short Holiday Week

So far today mortgage backed securities are continuing with the direction to help consumers. They are higher for the day. Please remember that as the price of mbs moves higher, the yield or mortgage rates, moves lower.

With the New Years holiday midweek we will be light on data. On Tuesday the Consumer Confidence numbers roll in and on Wednesday we get jobless claims and the Chicago PMI. Then Friday we get the ISM index. Now since a lot of traders will be on vacation and the trade volume will continue to be low they reports should not have a major impact on the mbs price.

If your closing within the next month it should not hurt you to float but if you are happy with the rate and terms you can get lock and move on. It should not get much lower.

On a side note, if you are planning on refinancing or buying a new home, expect the loan process to take longer. We usually underwrite a loan in 24 to 48 hours, but with the increase in volume some are taking up to 12 days to underwrite. To be sure you are getting accurate information. Make sure you are locking your rates for at least 45 days. 

As always thanks for reading and let me know what I can do to help with your mortgage needs.

 

Kind regards,
Tony Grego from Amerisave
Your Place for Great Rates!

Video of the Day – How Virus Protection Works

Hey Folks!

Well we read all the stories about the nasty computer virus’s that infect our computers. We protect ourselves by not opening attachments from folks we don’t know, deleting all of those nasty emails promising money from foreign countries and all of the newest drugs for pennies on the dollar.  We update our computers  virus protection programs that keep our computers clean but just how do these programs work? They attached video helps explain. Enjoy!

 

 

Tony Grego
Your place for great rates!
317-714-8080

Video of the Day – How Virus Protection Works

Hey Folks!

Well we hear all the stories about the nasty computer virus that infect computers. Yes we protect ourselves by not opening attachments from folks we don’t know, deleting all of those nasty emails promising money from foreign countries and all of the newest drugs for pennies on the dollar and getting virus protection programs that helps  keep our computers clean but just how do these programs work? They attached video helps explain. Enjoy!

 

 

Tony Grego
Your place for great rates!
317-714-8080

$99 iphone from AT&T

Well if you been looking for a iphone you may have decided to head to Walmart to save two bucks. Yes a better deal but the best deal on a iphone can be found right now at AT&T

They are selling refurbs 8 gig 3g phones for $99 (black only) and 16 gig for $199 (black or white).

I have had several telephones replaced by AT&T over the years. They always send a refurb and it is no different from the “new” product.

 

Good luck and good shopping

Tony
Your place for great rates

 

Wal-Mart may have teased us with the false $99 iPhone rumor, but AT&T has given us an after-Christmas surprise. They’re selling black refurbished 8GB iPhone 3Gs for $99 with a 2-year contract renewal, and refurbished 16GB iPhone 3Gs in black or white for $199. If Santa didn’t come through this year, head to AT&T’s site before these sell out.

Video of the Day – Shoplifter caught in the act and still on the loose!

Well folks we know that during this Holiday season some will take advantage.

 

I just hope that everyone with a retail store will take note and make the necessary changes so it does not happen to them. I understand that the police have a few leads but no arrests have been made so far.

 

Have a great day. If you need some rate quotes remember you can get all you need here at Amerisave

 

Tony Grego
Your place for great rates