Buyer Beware

Beware of No Points-No Fees Loans.

Typically, these loans sound attractive, but can end up costing you up tens of thousands of dollars extra. Common sense would tell you nobody works for "free". What some lenders do is mark up the interest rate and actually tell you your loan is at no cost. (Sound too good to be true?) It is. You are now paying 30 years worth of interest on hidden fees marked up in your rate. Example: on a $300,000 loan, the typical origination fee is 2.5% ($7,500 if paid out of closing). Now compare that to a 1% lender mark up to cover the hidden "no points-no fees" loan and that 1% just cost you $73,970 for what would have been $7,500. A $66,470 difference! Look and Listen for the fine print disclosing "Rate will be lower if you pay the fees". Beware.

√ At Skyline Financial Corp., we believe in full disclosure.

We show you the fees upfront (before you sign) and pass the lowest interest rate you qualify for straight through to you.

Beware of "pushy" retail lenders.

Typically, their loan consultants get paid to sell "the loan of the week" the boss has asked them to push. Look for the smartest loan program you qualify for, not the one the lender makes the most commission on.

√ At Skyline Financial Corp., we screen your scenario through the top 10 mortgage investors, looking for the best rates and loan programs you qualify for. We want your business now and in the future.

Beware of the Rate sheet quotes, it might be "bait and switch".

If a loan consultant hasn't reviewed your credit history with you, and verified what's correct and what's not, they cannot quote an accurate rate and payment.

Beware if a loan consultant hasn't reviewed the current home sales in your area with you, verified and agreed with you which homes should be used as a value comparison to reach your homes final appraised value, they cannot quote an accurate rate and payment.
Beware if a loan consultant hasn't seen and reviewed your proof of income and employment (current pay check stubs, recent W2's, tax returns and or bank statements), they cannot quote an accurate rate and payment.

√ At Skyline Financial Corp., we will only quote and deliver what we can actually do for you. We spend hours researching and preparing the best options that you will qualify for. We will never bait you in with a low rate, only to switch you at closing because we didn't know all the data.

Give us a call and find out why our customers love us. Toll free at (888) 518-7078.

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