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Loan Originators and Independent Loan Officers Offer the Best Mortgage Rates

Loan Originators and Independent Loan Officers Offer the Best Mortgage Rates

When it comes to financial terminology the vocabulary can be very confusing. What exactly is the different between a broker and a lender? What is PMI? Is there a difference in the rate and APR? These are questions that are not answered in formal education in the United States. Most of us did not take a financial literacy class in elementary, middle or high school. In fact, the large majority of Americans did not take a financial literacy class in college. This can make it very difficult to find the best mortgage rates for a specific situation. Fortunately, there are loan originators, independent loan officers and mortgage brokers that can help with this situation.

Loan originators, independent loan officers and mortgage brokers can be used synonymously. As a mortgage brokerage we work for the client and once we understand the situation we can choose which lender or bank has the best program for them. Instead of working with solely Bank of America or SunTrust we work with many lenders in the local area. This allows us to seek out the best possible mortgage interest rates for an individual or family. One family may benefit from an FHA mortgage while another may seek options for a VA mortgage. Feel free to call us at 919-869-8200 when looking for the best mortgage rates in the Raleigh, Durham and Chapel Hill area. If you are in smaller areas such as Pittsboro, Burlington or Siler City we will be able to help you find attractive mortgage rates for your situation.

Some home buyers or refinancers may search for a “loan officer”. Typically you think of a loan officer as an individual working for the bank with limited options. They do not go out and seek multiple offers from many different lenders. This is something to consider when approaching a first home mortgage or refinance. Ultimately, the customer should be able to get the best rate at the current moment. Remember that mortgage rates fluctuate on a daily and weekly basis. The 30 year fixed mortgage rate that was quoted last week could be different this week.

The 10 year treasury rate yield often determines overall mortgage rates so you may want to check the overall trend of the 10 year yield before considering a home mortgage or mortgage refinance today. If you want a professional to give you the best advice do not hesitate to call us today. As previously mentioned, most do not have a wealth of knowledge when it comes to finance so it can be best to work with someone that knows the industry inside and out.