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Austin
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Compare 30 yr fixed-rate ... |
|||
Rate |
APR |
Points |
|
| AmeriFund | 4.750% |
4.773% |
NO POINTS |
| AmeriFund | 4.500% |
4.584% |
$3,500.00 |
| BankofAmerica | 4.875% |
5.036% |
$4,601.25 |
| ChaseBank | 5.000% |
5.120% |
$4,170.00 |
| WAMU | 5.125% |
5.283% |
Undisclosed |
| Texans Credit Union | 5.250% |
5.398% |
$4,170.00 |
| TexasLending | 4.875% |
5.060% |
Undisclosed |
You’re no sucker. You’ve done your homework. Shopped around, called several of those mortgage lenders in the Sunday paper mortgage rate guide, and received a slew of quotes and good faith estimates. So now, you pick the one that has the lowest cost or APR and live happily ever after, right?
That’s the way it ought to work. But in reality the chances are that 35% of the mortgage rate quotes you received were not legitimate.
A recent survey of California mortgage loan applicants found that 70% of borrowers indicated that the terms they received at closing on mortgage loans from sub-prime mortgage lenders differed significantly from the terms they had been promised at the time of application or at an earlier stage of the mortgage loan process.
Other mortgage industry surveys reveal that the “bait and switch” routine in mortgage lending occurs in more than 35% of conforming mortgage loan transactions (non-sub-prime). [ ... more ... ]
As Ben Franklin so aptly put it, there are only two unavoidable things, death and taxes. If you’re faced with the uncomfortable position of owing income or property taxes and not having the funds to pay those taxes you should strongly consider a tax loan secured by your residential real estate.
Because of the 80% LTV limitation on home equity loans in Texas many lenders will not provide financing exceeding 80% of the value of your home to pay income or property taxes. AmeriFund will lend up to 100% of the value of qualified borrower’s primary residence to pay either income taxes (for which tax liens have been filed) or property taxes. [ ... more ... ]
Dallas, Texas - March 10, 2009 - Notwithstanding the fact that the mortgage industry is experiencing a recent significant increase in new mortgage loan applications, Dallas based AmeriFund is one of the few lenders keeping pace. With backlog forcing the largest national lenders to extend mortgage loan processing times to six weeks or more, AmeriFund continues to process loans from application to closing in less than half the time taken by its major competitors.
AmeriFund continues to offer same-day approvals on mortgage loan applications submitted online or by telephone interview by 3 p.m. AmeriFund vice-president, Kenneth Horn, attributes their superior processing times to advanced technology and a back-office system for processing online application based on more than 15 years experience in taking online mortgage applications.
Applicants will be pleased to hear that AmeriFund has also recently introduced a procedures whereby mortgage loan applicants can access a client portal on the AmeriFund web site to check the status of their mortgage application. The online report contains information relating to the progress of processing including the date on which key documents and reports required from third party service providders are ordered and received.
And AmeriFund continues to offer mortgage interest rate quotes on the company's website that are periodically updated throughout the week. There's lots of other valuable information that can be found on the website such as information about the company's mortgage loan programs and tips for consumers on how to shop for a mortgage lender.