For the past few weeks I've been working on a very SPECIAL
REPORT which I believe is the TRUTH about what's been going
on in the home loan industry.
Is it controversial? YES
Is it TRUE? YES
I've been in the mortgage industry and know this business
inside out. You can learn from someone like me who has been
Involved in lending millions of rands in home loans and has
seen most of the tricks unscrupulous lenders use to get your
business.
One of the biggest mistakes people make when getting a
mortgage is going to their bank and taking the rate the bank
gives them. Even though the bank often gives a discount off
the posted rate, most of the time they can qualify for a
much better rate.
People think that because they are getting a discount, they
cannot qualify for a lower rate. In most cases, the rates
given by the banks are not the best on the market.
Just think about this for one moment...
Banks don't care if you pay too much in fees. Nobody at the
bank is going to hold your hand and make sure you get the
best deal.
They want you to remain ignorant when it comes to shopping
for a home loan.
Why?
Because, it means extra profit for them. You will end up
paying more upfront fees and closing costs and ultimately a
higher monthly payment for the next 20 to 30 years.
Your only defense against being overcharged is knowledge...
And don't banks just love to overcharge us! I was paying prime less .15% at my bank where I've been doing business with them for almost 15 years.
ReplyDeleteI thought it was a great deal, but it wasn't. Now, I'm paying prime less 2.2% after I've discovered my previous bank was ripping me off!