Educated Mortgage Services

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I had the pleasure of working with Steve on my refinance and it was such a breeze! After reading all of the articles online today that paint a negative picture of the mortgage companies, I was a bit nervous about the whole proccess. One phone call and I quickly changed my mind. Steve is so patient, even with all of the "silly" questions I had and worked with me through the entire process. When a couple of hiccups along the way happened that were out of his control, he explained everything to me, never leaving me in the dark. I simply have nothing negative to say!

I was not very knowledgeable about buying a house when I came to this company, and I have had my experiences with bad lenders. The mortgage broker I worked with was excellent, who not only took the time to explain the ins and outs of lending, but also walked me through an application before giving me all the information I needed (rates, terms, products and several detailed analyses) so I was able to walk into my home purchase feeling confident. Before the actual closing, the broker came to my house and personally laid out everything in front of me, and was very helpful as we had a back and forth about the most finanically feasible situation for me considering my income, family situation and even job market volatility. This company is extremely expedient and personable based on my experiences with other brokerage firms. I highly recommend educated mortgage, they're just great people.

Called to ask about rates and a quote, i got a full speach about how the rates change 10 times a day and for them to give me the right quote (because they care so much) i must file an application first.



Ofcourse this is bull, they are just trying to hook you before you even know what the deal is...

rates are fairley stable in the course of a given day and may change once to 2 times per day(changing more than once a day is the exception).



Good lenders will at least give you a generic estimate/quote based on your circumstances.

Here is the basic information they need to know to give you a quote:

Loan amount you are seeking.

Value of your property (approximate).

if you have other loans on the property.

do you cash out refinancing.

what shape is your credit score in (less than 700, between 700 & 740 and over 740).

what loan type you need (30 fixed, 15 fixed, arm, variable ...etc)





I do financing and refinancing often ( i own my home as well as residential income properties), i hate it when some of these lenders talk to you as if you are an idot who does not know any thing they do ...



An ways, never file a full application before they till you the deal, look for both the rate and closing costs...

filing an application with a lender often includes a credit check which is a hit against your credit score, too many of those and it starts to add up...

The going rate is easy to get from many web sites.

The closing costs should never exceed $1200 unless they are charging you extra points or fees....