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LOAN PROS
Don't Close Your Mortgage Loan Without Us!
SERVICES
It is important to remember Loan Pros is not a lender. Lenders are a dime a dozen in today's society! The services offered by Loan Pros are far more valuable! If you are not closing on a loan go ahead and review our site and discover how you can earn money referring our service to others. Let's review the details!
FREE CONSULTATION
There is no fee unless we are able to save you money. Furthermore, there is no fee if your closing falls through for any reason such as title problems, repair problems or even an unexpected last minute change of mind. No risk!
If Loan Pros is able to assist you with a savings our fee is based on a percentage of the amount saved and is not collected until the time of closing. As a mortgage borrower you have absolutely no risk by using our service.
WHY DO YOU NEED LOAN PROS?
Everyday thousands of homeowners across the nation sit down and blindly sign documents without truly reviewing the numbers. As former lenders we understand the average person believes their loan originator is working in their best interest.
There is one fact that is true in every case: loan originators work for the lender and their job is to make money for the lender. Borrowers do not realize loan originators actually work on commission.
ASK YOURSELF
- Why would your originator work to lower your fees if their paycheck depends on your fees?
- Why would the closing agent work to have your fees lowered? Closing agents earn an excellent income closing mortgage loans. Lenders want to work with closing agents who close their loans quickly and with little questions. If a closing agent is in good graces with a lender they have a very profitable business. Many homeowners rely on their lender to refer a closing agent.
Every borrower needs an unbiased party with no tie to the lender or closing agent reviewing the final figures before signing. If you were buying a car you would want an unbiased mechanic looking over the engine. Your mortgage loan is a far larger investment and needs equal protection.
The New York Times and ABC's 20/20 devoted an entire segment to unfair lender practices. Do not fall for the trap so many lenders set. Contact our office before you sign any documents.
Bookmark this page (Click here) and visit the links shown below to review the findings of the investigative reports.
If you don't yet have a pre-approved loan, bookmark this site and come back when your loan is ready to close. Click here to add this site to your favorites. Don't close your loan without us!
CHANGES IN LENDING PRACTICES
Up until the 1990's getting a mortgage loan required a borrower have "A" credit. In the 90's a new form of lending became available called "non-conforming". Non-conforming lenders offer loans to borrowers who do not conform to the normal standards (i.e.: credit problems, self-employed, manufactured homes just to name a few).
While there is a great need for non-conforming lenders there is a major problem. The fees associated with these loans are extraordinarily high. We have seen loan origination fees as high as 8% of the loan amount. Example: On a typical $60,000.00 loan the origination fee would be $4,800.00. Non-conforming lenders are able to collect the fees by explaining it is necessary to grant the loan. When a customer complains it is sometimes lowered but normally only after raising the interest rate.
Borrowers would be shocked at how quickly many fees can be eliminated by asking the right questions. The consultants with Loan Pros know the secrets to having excessive fees lowered or eliminated.
THE PROCESS
When your loan is pre-approved your lender will provide you with a Good Faith Estimate of closing fees. Bookmark this page now and come back to it when you have your Good Faith in hand.
Click on the link which says "Free Review" to submit your fee description via e-mail. If you prefer you may fax your actual Good Faith Estimate to 803-775-3532. When faxing please write your telephone number or email address on your cover sheet. Also, please write down the code number (often referred to as a referral number or department number) of the person who referred you to Loan Pros. (LP584 is your referral/dept. number for this site.) We need this number to credit the proper representative for their marketing.
A consultant will review the fees within 24 hours and contact you with the findings. If a determination is made that the fees are excessive you still have no obligation to continue. You may choose to close your loan "as is" or you may request our consultant contact your lender to negotiate the lower fees.
Two general release documents will be required which authorize your lender to discuss your file with our office. All information is held in strict confidence. Once the consultant has contacted the appropriate parties you will be contacted with the results.
- Submit Good Faith Estimate via e-mail or fax
- Within 24 hours a consultant will contact you with his/her opinion
- You choose whether to proceed - no fee if we are unable to reduce your closing costs
- If you choose to proceed two release documents are signed
- Consultant contacts the lender and any other parties involved
- Consultant contacts you with the results normally within 24 to 72 hours
- If a savings is achieved an invoice is prepared, reviewed by you and submitted to the closing agent.
- Closing agent adds our fee to your settlement statement.
- Closing agent puts the remaining savings back in your pocket!
Loan Pros is a risk free service!
METAL BUILDING SYSTEMS
Metal building systems are rapidly becoming one of the most popular forms of construction for churches, schools, and business owners across the United States. In our continuing effort to provide consumers with obtaining the best service at the best price Loan Pros is pleased to announce that we can now assist you with obtaining a free, no-obligation quote for your commercial building needs.
Simply click below to provide us with a few details and a consultant will contact you within 24 hours.
Don't
forget to bookmark this site! Click here