Get The Best Rates Through a Mortgage Broker
Get The Best Rate Through a Mortgage Broker Working through a mortgage broker may allow you to get a better rate than going through a direct lender or a traditional bank. This is because direct lenders and banks can typically make up to 6% of the loan balance in fees and other costs. Mortgage brokers on the other hand are capped by law at 2.75%, meaning they can more competitively price their loan products. Large banks also have a lot of overhead that they must pay for and it’s usually done by increasing their margins. Reach out to RateJab today and we will connect you to the top wholesale lenders in your area and give you access to the most competitively priced loan products available.
You can put down only 1% in certain states
A common misconception that prospective homebuyers have is that you must have a large down payment to buy a home. In some cases, this may be true if you are looking to purchase a rental or investment property, but if you are a first time homebuyer or currently do not own a home, we have an exclusive 1% Down loan available to our borrowers from United Wholesale Mortgage. With this loan, the lender contributes 2%, the borrower contributes 1%, giving you 3% equity on day one and you may not even have to pay mortgage insurance. This product is only available through a mortgage brokerage like RateJab.
Use Zillow As a Guide
Zillow is an effective (and free!) resource for home buyers and sellers alike. While it may receive some scrutiny for the accuracy of its Zestimate feature, it does give you access to thousands of new listings in your area and real estate professionals who can help you fulfill all of your homebuying needs. As a Zillow 5 Star Lender, RateJab can help you get connected to the country’s top wholesale mortgage lenders and real estate professionals in your area.
Work With A Reputable Realtor
The quality of service you receive from a real estate agent can make or break a potential deal on a new home. A good agent will not only know how to negotiate on your behalf, they will also know the inside news on specific neighborhoods and potentially give you access to new listings before they even hit the market. So being a licensed agent is not enough; you want someone experienced and with a proven track record.
Tour It Online First
You may be able to take a 3D virtual tour of the home first, now that listing agents are utilizing HomeJab’s 3D home tour service. The best part about this is that you can do it from the convenience of your phone or virtual reality headset, this way you don’t have to spend hours driving around and visiting homes and can narrow down your options more easily.
Check out example of Philadelphia home in 3D – also compatible in VR:
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