Is Saving Money Important to You?

In much the same way that you would hire a stock broker to buy shares of IBM stock for you, a mortgage broker is someone you hire to assist you in buying a mortgage.

Like stocks and bonds, mortgages are a commodity, and are bought and sold on the market.  The market price for mortgages goes up and down many times per day, and rates from morning to night may fluctuate greatly.

Nonetheless, many borrowers still fall into the trap of trying to compare the price of mortgages from several different brokers. This is akin to comparing the price of IBM stock from several stock brokers.

The price of IBM stock is whatever it is AT THAT TIME in the market.  The price is affected by THE FEE THAT THE BROKER CHARGES and the TIMING ADVICE used by the broker in timing the purchase.

Mortgages work exactly the same way.

Don't fall into the trap of comparing rates. What you should be comparing are the fees that are tacked on to a mortgage loan. Read on to discover how to become an expert at identifying these fees.

The plain fact is this: Just as all stock brokers buy their stocks from the same source, ALL MORTGAGE BROKERS buy their stocks from the same wholesale lenders and investors.

Don't compare rates!  COMPARE FEES.

And don't forget to value the experience of your broker in timing the market.

I hope this advice is valuable to you.

Welcome!

I know personally how daunting the business of financing a home can be. If you feel confused about your next mortgage, it’s ok.

I am here to help you make the Smart Mortgage Choice.

Many new customers tell me their mortgage horror stories. They didn’t know if they were getting a good deal. They never trusted their mortgage loan officer. Or they showed up at the closing table to sign paperwork and were shocked to discover their rate had increased from what the broker had quoted.

Unfortunately, this is a common scenario for many borrowers who work with loan agents who are less than honest, or who mean well, but are just plain disorganized, or inexperienced. 

Discover the money-saving secrets to the mortgage industry

With over a decade of experience in this industry, I can tell you that most mortgage professionals enjoy borrowers who don’t understand the mortgage process. Brokers make a lot of cash without your direct knowledge.

Your cash.

My specialty over the last 10 years has been deciphering mortgage financing "numbers" in databases. Now, instead of looking at tens of thousands of loan transactions at once, I intend to look at only one transaction…

…yours.

My goal when working for you is to change your notions of the mortgage business by bringing a level of openness to the table and by using advanced computer software to calculate something I call "SureFee". Once the metrics are punched in on the loans to be compared, my software will calculate the total overall cost of a loan to you. Costs include all fees, points, interest and more--even the cost of appraisal. In this way we can compare the loans provided by hundreds of different loan programs, from scores of investors at all possibility of rate and cost levels. Then someone can make intelligent financial decisions that are based on facts.

That someone is you.

It's called the Smart Mortgage Choice.

Those who fail to make smart choices lose money. Lot's of money. For example, it should come as no surprise to you that mortgage brokers make big commissions...up to 2% (or more) are not unheard of. That's around $20,000 cash commission on a typical Ca home.

I hope to change that, too. What makes me different from the "other guys" is that I will discount my commssion for you. By accepting significantly less profit per loan than the "other guys", I am assured that you will save money. After all, who pays the difference between a HUGE commission and a sensible commission?

You do.

Sure, I will make less profit per transaction. However, by making my customers happy, I am assured that they will refer me to their friends, family, neighbors and co-workers. This makes everyone happy and creates a win-win situation for us both.

Do business with someone who has a reputation to protect and uphold

I am very well connected in the mortgage industry. Not only do I work closely with other honest mortgage professionals who are certified members of the National Association of Mortgage Brokers, I have also sat on the Board Of Directors for the Silicon Valley Chapter of the lifornia Association of Mortgage Brokers. The Associations mission is to uphold high standards of honesty and integrity in the industry. By providing education and assistance to mortgage professionals nationwide, and insisting that members uphold our high standards, we seek to protect and encourage the consumer to do business with Association Members.

I served on the Board of Directors for CAMB from 2004-2006.

How I can help you

1) Consolidate debt - If you have credit card debt, car payments and other items that have higher rates and payments, it might make sense now to consider a consolidation scenario. We might look into a new 1st or Combo 1st and 2nd. In doing so, your credit scores almost always go up as well. Especially if your credit cards were above 50% of your total credit amount.

2) Smaller payments - If you have a higher rate, you might save a considerable amount per month  Improve cash flow - Even if you have a low rate car loan, the payment might be pretty high. A $700 car payment on a vehicle might only add $100 to a new 1st. The key here is what you would do with the additional cash...invest it, pay down other bills, anything you want!

3) FHA Loans and FHA Streamline refinance - The United Stated Department of Housing and Urban Development has created a class of government backed loans called Federal Housing Administration loans. FHA loans designed for homeowners with credit, income, low savings challenges. If you don't think you qualify for a home, think again. FHA might be your answer. ll me for a free prequalification. If you already have an FHA loan, did you know you can perform a "FHA Streamline Refinance" to lower your rate? Streamline refinances offer lower payments with very little paperwork! Call me for more info.

4) Increase tax deductions - restructure your debt on Credit cards and vehicles to a new loan and your tax deductions could increase nicely since the interest is now deductible. Tax benefits are the number one method rich people use to save money. Regular people like us can take advantage of this tax benefit too! Find out how much you could save by using my software. Call me for details.

5) Other investment opportunities - Is there an investment in a new business or other venture you'd like to make? You would not be the first businessperson that used their equity to follow a dream or goal. Go for it! Call me to discover how easy it is to create a low-interest rate line of credit that comes with a checkbook!

6) Fixed Vs Variable - A short conversation together and we can easily determine which fits best for you. I have a spread sheet that will calculate your long-range plans and financial picture. Will you stay in the home for many years? By taking a shorter fixed term, can you use the extra cash to pay your house off sooner? In a few short minutes, I can tell you the answers and help you make informed, smart decisions.

7) Improve credit scores - I never charge my clients to help them improve their FICO scores so they can get the smallest payment possible. I've learned many tricks over the last several years. If you have credit challenges, call me.

8) Payoff in less than 30 years - this is a lot easier than you might think. We help to setup the majority of our clients on programs that eliminate 8 or more years off of a traditional 30 year. That means you start building equity faster with the very first payment. And the amount of cash you'll save in the process will shock you!

9) Points vs No points - I always begin with a "no points" scenario. (Points are a fee charged by the broker and are expressed as a percent of the loan amount--one point equals one percent). It usually takes approximately 36 - 42 months to recover the amount you might pay up front in a "Point". However, paying points often lowers your rate because the investor does not have to pay the broker fees. If you plan to keep the home for many years, it makes sense to consider paying points to get the lower rate. I can calculate both scenarios for you to determine which is the lower cost scenario to you.

I take a great deal of pride (and pleasure) in helping my clients save money and build wealth. I'm confident I can help you.

I can help nearly anyone buy or refinance a home or commercial space to:

• Buy a home (often with little or no money down)
• Move into a larger home
• Buy an investment property
• Get pre-qualified for a loan so you can shop for a new home without fear
• Leverage equity in your current home to buy another home
• Refinance to lower payments,
• Get cash out for any purpose,
• Consolidate debts, or
• Get a better rate.

If you or someone you know is thinking of buying a home, or would like to find out exactly how much money could be saved by refinancing, please call me, or send me an email with your friend, co-worker, family member's name and phone number. A referral from you is the highest compliment I can receive and I am delighted to help.

Inside mortgage information that will save you money on your next mortgage

5.5%  5.75%  5.875%  6.125% ???  

Did you know that the rate given to you by mortgage brokers is nearly an arbitrary number?

It's true. Within reason, you can get any rate that you want.

A rate is calculated by balancing three other factors of your mortgage.

If you are just comparing rate and looking at the lowest rate, you my be getting tricked into paying more than you have to. 


Here are the building blocks to calculating your rate. Brokers can "balance" these three adjustable variables to give you a wide range of possible rates.

1. Points - Many borrowers mistakenly think that points paid at closing are bad. This is not true. Points may lower your rate because points pay all or part of the broker's commission. Because the investor doesn't need to pay that part of the commission, they may offer you a lower rate. Furthermore, certain home buying strategies that I will teach you when we work together may allow you to convince the Seller to pay for part or all of your closing costs, including Points, saving you even more money!

If you are refinancing, it is important to consider how long you may stay in the home. Buying a lower  rate with points nearly always saves large sums of money in the long run. Want to determine if it makes better financial sense to pay points and buy down your rate, or keep your cash and pay a higher rate? Just call me. I'll do the math for you so you can make a Smart Mortage Choice.

2. Commission - The more commission charged by a broker, the more expensive your loan becomes. Simple! Keep commission low, and you will save money. The trouble is many brokers hide their commissions using tricky methods.

Unlike other lenders who never tell you what their commission is, or only disclose part of their commission, I will disclose to you my entire commission. By being open and honest and offering discounted commissions, I get happer customers. Don't worry; I don't "lose" money because of this. By saving my customers lots of money, I am assured that they will refer me to their friends and family and this saves me a great deal of money in marketing costs. So it evens out and everyone is very happy. My goal is to save my customers money and by being open and honest, you are assured of getting the best deal. 

You have a right to know what is happening with your money. Make the Smart Mortgage Choice.

3. Rate Lock - Any broker who quotes you on a rate is making a guess at what your actual price may be. There is NOTHING in the law that says that a broker must promise to get you a certain rate. They could change the rate at any time up to the moment you walk in to sign papers at the closing. MANY BORROWERS have had the shock of their life when they sit down at the closing table to find that their loan is priced HIGHER than they had discussed with their broker. The broker need only say "market prices went up" when offering an excuse. Meanwhile, you are stuck with a bill tens of thousands of dollars higher than you expected.

The ONLY way to get an exact rate on a loan is to LOCK it. A loan which has been locked is guaranteed to fund at a certain rate and term once approved by the investor. The investor must have ALL the details of the loan, including the borrower's FICO score in order to lock the rate. If a broker is guessing at your FICO score, they are also guessing at the rate you'll see on your final loan documents.

Furthermore, a lock extends only for a certain time period; 14, 21 and 30 days are common periods. The longer the lock period, the higher the rate. Inexperienced brokers typically lock loans for longer than required and this costs you money. The reason is that they don't understand the market, or think they require more time to get the loan completed. Because we use excellent computer technology (such as our electronic signature paperless loan process), my team can close a loan in days, saving you a great deal of time. Also, BEWARE of brokers who are not experienced locking loans. Prematurely locking a loan when rates are going DOWN will cost you a lot of money because your loan will be locked in at a higher rate, even though the market is offering lower rates! Sometimes brokers will promise you a certain rate --- say 6.25%, and then the market will go down to 6%. They will still give you the 6.25% rate because they think you don't know any better. This is unscrupulous business, in my opinion. I will offer you the lowest rate available. If rates go down, and we haven't locked your loan, you WILL get the lower rate. It's the right thing to do.

Why do we do this? Because the most valuable profit we earn during a mortgage transaction is your satisfaction and referrals to your friends, family, neighbors and co-workers.

So we will do our very best to impress you with our knowledge, skill, honesty and integrity when doing business with you. We want to save you money, increase your net worth and make the mortgage process as easy as possible for you.

Make the Smart Mortgage Choice.

You'd be surprise to learn how often people tell me how glad they are that they connected with me prior to getting frustrated with "the other guy" and spending way too much money on "the other guy".

Isn't it time you had someone be open and and honest with you when it comes to mortgage advice and pricing?

I greatly appreciate the opportunity to earn your business. If we haven't moved forward with your mortgage loan, let's get started right away. ll me right now. I'm happy to help you.

The market doesn’t stand still! Let’s start your low rate locked in NOW!

Apply now. It's easy.

Thanks for choosing the Scottie Sharpe Team at "Smart-Mortgage-Choice" for your mortgage needs. I want to extend an open invitation for you contact me at any time with any questions you may have about the mortgage process.

Instant message me:

Warmest regards,

Scottie Sharpe

Senior Mortgage Planner
SmartMortgageChoice.com

425-906-3157
www.SmartMortgageChoice.com

Make the Smart Mortgage Choice!

PS - You've seen the web sites. 4.875% on 30  year fixed. Or emailed offers sent to you that just sound incredible, perhaps too good to believe? Sometimes loan offers made by other parties are presented in a way as to entice you let your guard down, or to get you to relax your shopping efforts and take you "off the market" .... until it's too late. By then, your estimated closing date is days away and the market numbers have changed and suddenly the deal isn't what you thought it was.

I only make bonafide offers, proffered by legitimate investors. My estimates may be higher, even overstated in some cases, to be safe. However I always try to under-promise and over-deliver.

Although that puts me at a disadvantage when going head to head with less scrupulous sales people, I think ultimately my method works better because I get referrals from my customers (and often those who unfortunately chose "the other guy"). 

Although I hope this doesn't happen to you, please feel confident knowing that I can close your loan in days. You should NEVER FEEL PRESSURED BY A CONTINGENCY DATE OR ESTIMATED CLOSING DATE! If you have a need for a low rate on a loan that will close soon, DO NOT HESITATE. Call me immediately for advice.