Wholesale Priced Loans vs. Retail Priced Loans

Here’s a brief explanation…

I’m As a Mortgage Broker I'm licensed and approved to obtain loans from Wholesale Only Lenders (not open to the general public), and from the wholesale Departments at many large Banks. The Wholesale Interest Rates I obtain will include a small mark-up, but will be kept as close to wholesale as possible by my best efforts to help my clients obtain the lowest pricing available, and will usually be far less than the "Retail" pricing commonly available from large lending institutions.

I’ve found that when my Customers are Happy, because they've found low priced loans through me, they usually Refer their Friends and Families, and I do more Business. (That's the reason I stopped working for a large Retail Bank many years ago)

The Interest Rate that You’ll be able to obtain from me will usually be 1/4 to 1/2 of a percent less than a rate you would be able to find on your own by talking to a Retail Bank or Credit Union.  If You’ll view the page on my web site marked “TRUE National Rates” You’ll see the average Interest Rates in each Region as quoted by the government entity Freddie Mac. These are True quotes, no bait and switch rates, and the Wholesale Pricing I can get is usually ¼ to ½ of a percent Less than the Average National Rate.

It will make a big difference for you financially to obtain a lower rate…here’s a quick example;

If, by securing a Wholesale Priced Loan from Me, you are able to save $75.00 a month on your mortgage payment…that will be $900.00 you’ll save after just one year…or $4,500.00 that you’ll save after just 5 years…and $9,000.00 that you’ll save after 10 years.  This is money you would have just ‘given’ to a large Retail Bank if you accepted a higher Retail Interest Rate…

Also, I’m paid by the Lender that I submit Your Loan to in the form of a Rebate, You Don’t Have To Pay Me.

That’s it in a nutshell…

I urge you to check with you favorite Bank, or Loan Officer, and then call me to see how much You’ll Save by having me find You a Wholesale Priced Loan.

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Would You Like To Know More of the Picture?...Read On…

As I’ve stated, I have access to Low Wholesale Rates through a wide variety of Lenders which helps me to shop for the Lowest Rates and Best Terms for You.  Let me explain further how this works…

Did You know that most Retail Banks offer their loan programs to Wholesale Loan Brokers like Me at “Wholesale” Rates and to the General Public at Full “Retail” Rates?  Did You also know that Retail Banks usually make more money from Wholesale Loan Brokers like Me than they do from the Public just walking in off the street?  That’s why they give us a Discount, or Rebate, to provide this service, and for bringing them business.  Also, most large Retail Banks such as Wells Fargo, Washington Mutual, Bank of America, Countrywide, etc., not only have a Retail Department, but may also have a Wholesale Department available only to Licensed and Approved Wholesale Brokers like Me.  This means that even if you have a long relationship with your Bank, and go to your Bank directly for a new loan, you’ll only be able to get a high “Retail” rate.  But, the chance is good, that I could take your application and place it into that same Bank’s Wholesale Department and usually get the Interest Rate reduced for You, because I’m obtaining a “Wholesale” Discounted Rate.

However, the Big Retail Banks most often don’t even have the best pricing on Wholesale Rates!  There are thousands of Wholesale "Only" Lenders out there, that don’t have Retail Departments, and do not market to the General Public directly. They are able to offer lower, more aggressively priced rates, due to the fact that they don’t have huge advertising costs and the high overhead that Retail Banks have.  Marketing, Advertising, and Overhead are the major expenses of Large Retail Banks, and the public pays for it when they accept Retail Interest Rates.

Additionally, when you go to a Bank directly You will Limit Yourself, because you’ll only be able to choose from the few Loan Programs that Lender may have, and at full Retail Price.  Since I’m Licensed to work with a Large Number of Lenders, I have access to Hundreds of Wholesale Loan Programs. As a result I can shop around and find the most suitable Loan Program at the Lowest Rate for You.

Oh and here’s something else you need to Be Aware Of.  Big Retail Banks are Slow!  That’s right, they can take a long time processing your loan.  Your file may be sitting in one department after another, lot’s of Red Tape, Mistakes, Bureaucracy, Outragious Qualifying Conditions, Etc.  However, the average time frame for Me to Complete a New Purchase or Refinance Loan, is usally Half the time in comparison…from submission to funding.  I’ve never caused an Escrow Closing to run late, which not only makes my Customers Happy, but My Realtors as well…

Now You Know More Than 90% of the General Public about Wholesale and Retail Interest Rates!  After more than Two Decades in the Real Estate & Finance Industries I’ve got Lots of Tips to Share…

Call, and Let’s Get Started,

ChasePozzi@yahoo.com