How we uncovered big savings for a client before they accepted an unfair offer

I wanted to share a quick story with you about a recent client that was referred by their Financial Planner. 

The client had a home that was underwater. This just means that there was no equity in the property. 

This client had found a special program that fit his needs called the Home Affordable refinance Program, HARP for short… 

The HARP program is sponsored by the government and allows for those clients with a mortgage owned by Fannie Mae or Freddie Mac to refinance even though there is no equity in the home. 

Anyhow, this client came to me with a quote of 4.75% for a 30 year fixed rate loan that they were quoted by a local bank.

On the surface it seems like a reasonable offer…however, I reviewed the facts and gathered the necessary information and I was able to shop the rates with over 50 lenders in about 10 minutes. 

After we shopped the rates we were successful in locating another name brand lender that would do the exact same loan for 3.875%, 30 year fixed rate!

Whoo-Hoo, what a savings!

The Local Bank had priced this high so that they could make more money on the “hidden rebate” that is never disclosed by the bank.   

It just is plain and simple..unfair to the consumer. 
Let’s see now…you save a total of 0.875% on your loan amount per year … 

just because you were smart enough to make the call to Disney Financial and ask a few questions. 

That puts you in the genius range…doesn’t it? 

If you know of someone that needs a  mortgage review then you should consider referring them to us for the analysis of their financial position.  We can then set the course for their financial success to the future. 

Thanks for being a friend,
Mike Disney