A few months ago a buyer came to me after going through the LendingTree process.
His phone had blown up. He'd talked to several lenders. He had three quotes in front of him.
He thought he'd done his homework.
One quote was 7.25 with no points.
One was 6.99 with one point.
One was 7.10 with a lender credit.
He had picked the 6.99.
Lowest rate, right?
The one point he was paying to get to 6.99 cost him $4,800 upfront.
His monthly savings compared to 7.25 was $87 a month.
At that rate, it would take him over four and a half years just to break even on what he paid upfront.
He was planning to move in three years.
The 6.99 would have likely cost him more.
Based on his timeline, the 7.10 with the lender credit appeared to be the better move. It lowered his cash to close by $2,200 and kept his payment close to where he wanted it.
He had no idea.
Not because he wasn't smart.
Because nobody had shown him how to compare the full picture.
"Keith, this is what LendingTree should have been. Thank you."
Text Compare to 615.955.0461.
That's what the Zoom is for.
I'm Keith Goeringer, an independent mortgage advisor since 2003 with Barrett Financial Group - one of the largest mortgage brokers in the country, backed by 150+ wholesale lending partnerships. I open the live pricing engine, show you what's available for your exact situation, and we look at the numbers together until they make sense.
615.955.0461
No form. No pitch. No obligation. Just an honest conversation.
Text Keith: 615.955.0461Keith Goeringer
Independent Mortgage Advisor | 180+ Lenders | Since 2003 | Franklin, TN
P.S. Rates change daily. The sooner you understand how mortgage pricing actually works, the better positioned you'll be, no matter when you decide to buy.
Keith Goeringer | NMLS #488023 | Barrett Financial Group | Franklin, TN
Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval. Rates and terms subject to change without notice.