Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Good Idea!
Realtors residuals

Advertisements
How To Advertise Here
How To Advertise Here

Facebook
Sponsored Links
Top Posters (30 Days)
simon94bob 31
RPR 26
Vermont 18
Trouble 17
Lucky Leonardo 15
Midlands BPO Guy 15
estatereal 15
Z06Fanatic 14
Mr. Clean 11
sualk54 6
Bigtoe 5
leaf fan 5
RE123 5
OpenHouseID 4
RonnieEmz 4
Matched Content
Topic Options
Rate This Topic
#414044 - 10/08/12 04:10 AM Mortgage Negotiation.
Musa Opondo Offline
Member

Registered: 09/24/12
Posts: 210
Loc: USA
I have heard people say that you do not have to accept what your lender is offering you as you can negotiate for a better mortgage.
Now that mortgage rates are lower and there seems to be few applications how can one take advantage and negotiate the mortgage details.

Top
Advertisements
#414048 - 10/08/12 06:27 AM Re: Mortgage Negotiation. [Re: Musa Opondo]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7660
Loc: Vermont's North-East Kingdom
I always suggest that Buyers check with their current Bank ABC and get a quote first.

Then shop around and see how much better you can do elsewhere at Bank XYZ.

Finally, go back to your own Bank ABC, who already knows you, and tell them what their Competition at XYZ has offered and say:

"I'd hate to leave ABC after all this time; can't you match or better what Bank XYZ is offering?"

Bank ABC will then usually give you at least a token discount from what they quoted.

Still, most people are too shy to take that suggestion; and the economy assumes most people will eat what is fed to them . . . . and that's true.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#414062 - 10/08/12 06:14 PM Re: Mortgage Negotiation. [Re: Musa Opondo]
Dodger52 Offline
Member

Registered: 10/14/11
Posts: 266
Loc: Montana
Everything is negotiable, but there isn't a lot of room in mortgages right now. Fees are limited by regulations, the secondary market is still uncertain, and with interest rates being as low as they are the profit just isn't there. If you are a perfect mortgage candidate they may be willing to work with you to insure future business. Any less than perfect and you can expect to pay the quoted rates.
_________________________
Dodger52 (Chris)
Prudential Montana Real Estate
www.MT-RE.net
www.facebook.com/MissionValleyMTHomes

Top
#415325 - 11/03/12 02:34 PM Re: Mortgage Negotiation. [Re: Musa Opondo]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
Everything is negotiable...but you are definitely going to want to be sure to go ahead and lock in your rate while you can get a good one.


Edited by Scintillion (11/03/12 02:34 PM)

Top
#430096 - 11/07/13 11:31 PM Re: Mortgage Negotiation. [Re: Musa Opondo]
4cmortgages Offline
Junior Member

Registered: 11/07/13
Posts: 5
Loc: Dubai
Do not allow lenders to pull your credit report before you have chosen a lender. Multiple inquiries can negatively affect your credit score, potentially costing you a lower rate. Once you have chosen a mortgage company, you will authorize them to pull your credit report as part of the application process.

Top
#434857 - 04/01/14 11:43 AM Re: Mortgage Negotiation. [Re: Musa Opondo]
Midland Mortgage Offline
Junior Member

Registered: 01/31/14
Posts: 4
Loc: Midland, Texas, USA
I agree that everything is negotiable and I agree that you shouldn't have your credit pulled prior to deciding who to go with. There are three factors that determine what the best long term benefit would be: Loan Amount, Down Payment and Interest Rate. Adjusting the values of all three factors should show you what the best direction to go would be. Make sure that you keep that in mind and use that as one of the negotiating pieces.

Top
#435158 - 04/10/14 09:55 AM Re: Mortgage Negotiation. [Re: Musa Opondo]
DonFolz Offline
Member

Registered: 04/10/14
Posts: 10
Loc: Charlotte
Always ask your LO what thrid party fees and services you can choose (ie., closing attorney) and comparison shop those.

Thanks,
Don

Top
#450311 - 02/04/16 02:29 AM Re: Mortgage Negotiation. [Re: Musa Opondo]
Pauline Offline
Junior Member

Registered: 02/04/16
Posts: 3
Loc: Buffalo, NY
Fortunately, I never had to worry about my mortgage because noble black my realtor helped make sure I get the best rate for my mortgage.

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
RayWhite, Raffaele, Du An The Avila, mreid77, MiaJones
29710 Registered Users
Who's Online
5 registered (estatereal, STEW, Mr. Clean, RayWhite, 1 invisible), 68 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28199162
No new orders today 13094949
Stupid MLS comments. 3272043
What do you know about Froy Candelario, top agent in USA 1185667
Stupid QC comments and BPO requirements. 1057311
New HUD Listing Brokers---Any Update? 1024907
Is there religious content in Buffini class? 820165
Let's talk about our cars 667408
Name that Flick. Great movie Lines. 601067
Pay it Forward - BPO/REO Tips & Tricks I & II 588957
Most common items found at an REO 570846
EML 459230
REOTRANS 438566
Main Street 417061
asset val seminar in colorado 406002
assist 2 sell or 1 percent realty? 339173
HOMONYMS - There, Their, and They're 305482
Evalonline 300066
Land America 285050
Mainstreet 261858
Featured Member
Registered: 10/23/02
Posts: 13

How To Advertise Here


This site presented by RNC Internet Services