ALAMO PREMIER MORTGAGE GROUP CORPORATE OFFICES
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IT IS TIME TO REFINANCE!
update 11-28-08: MORTGAGE RATES ARE AT A 6 YEAR LOW!
5% RATES AVAILABLE!. email us or call for a personalized estimate.
Why do business with Alamo Premier Mortgage Group?
Each and every bank, credit union, or financial institution has a specialty or a program that they promote, advertise and sell. They become expert at it and therefore they offer incentives for borrowers to choose that program. In marketing we call this finding a niche.
At Alamo Premier Mortgage Group it is our niche to sort through all those programs and incentives and create a data base that is unique to us and that we constantly update and monitor. Banks send us their best programs daily, and we have complete access to their wholesale lending department and special programs. If you need cash from your home, then whom do you chose? Wells Fargo Home Equity Loans, San Antonio Credit Union Equity Loan, Broadway Bank Line of Credit, Bank of America HELOC, Washington Mutual Bill Consolidation Programs or how about Chase Bank, it may be offering a special this week on a Texas Cash-Out Loan. The answer is simple, just call us and let us know what your specific needs are and we will find the program and the bank most suitable to you with the best rates. That is our commitment to you. We have relationships established with banks and institutions and we are authorized to originate and generate loans for them. Each and every bank offers discounted rates and most of them pay us to generate loans, you our client will pay less closing costs, and we will guarantee a lower rate. We process, underwrite, and fund your loan through wholesale departments. That is why we can originate a loans, process, underwrite and then close them and fund them in as little as 24 hours. With hundreds of programs and banks available in the market place, it is advisable and highly beneficial to consult with one of our qualified loan officers to find a loan that is specific to your need.
How can we offer lower rates?
Most loans are generated through Fannie Mae or Freddie Mac, and the mortgage rates are based on treasury notes and the 10 year Index, not the prime interest rates. They are serviced by banks and institutions that originate, buy or trade for them from other lenders.
Over 65% of the mortgage loans at the banks are generated through brokers, each bank has 2 mortgage departments:
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Retail Lending Department: it cost the financial institution thousands of dollars to originate loans. Not to mention the expense of a salaried staff, expensive buildings and continuing education and certification.
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Wholesaled Lending Department: they contract with mortgage brokers, like Alamo Premier Mortgage Group, who are certified by Fannie Mae, Freddie Mac, as well as the VA and we are regulated by the Texas Savings and Loans Department.
The wholesale lending department just has to is buy a complete loan without worrying about appraisals, surveys, contracts, etc. They don’t look at documentations, processing, credits report, or job history. They buy a complete loan, it is that simple.
The rates at the retail side are 3/8 to one full point higher in most cases to compensate them for the overhead cost.
How does the U.S. Govt takeover of Fannie, Freddie effect you?
Due to the market volatility we are only quoting the most up to date MORTGAGE RATES via email or telephone. Please call our office and ask for a loan officer or fill out the Quick Quote form and we will email you back our best rates custom made for your unique situation and need. We will always offer you the best rate/closing cost guarantee. To find out what causes the Mortgage Rates to change, Click here
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