We're not all created equal!

Have you ever looked in the help wanted classified section of the newspaper under Sales / Mortgage Brokers. Most of them start the ad with "No Experience Necessary!" Plus 95% of them are paid 100% commission, so most companies will hire just about anybody, because they don't have to pay them until they make the company some money. They don't need  a state licensee, they don't even need a High School diploma. And your going to give your private financial documents to anyone who quotes you the Lowest Interest Rate? The truth is, a Broker is a Broker is a Broker . . . we all get our rates from the same lenders; i.e... Chase, Bank America, Citibank. And we all get the exact same rate sheets. My point is, if you're going to pick your Mortgage Broker based only on interest rate, you could be in for a big surprise when you get to the closing table . . . if you ever get there. Closing costs are all estimates, they can change those when you get to closing. They can say you're not qualified for a particular loan and flip you into something else. Experience should count for something in your decision on which Mortgage Broker to choose.

Choose Carefully!