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| Why Our Interest Rates Are So Low - The Honest Mortgage Company - Nothing hidden in the fine print |
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As the owner of The Honest Mortgage Company, I'm often asked how our interest rates are so low. Please allow me to explain. In California the major residential lenders are banks and credit unions. A select group of mortgage brokers have agreements with the major banks enabling them to originate loans in the California housing market. One of the main reasons banks enter into such agreements is to increase their overall loan portfolio, and in doing so offer "wholesale interest rates" to mortgage brokers. As we have such agreements, The Honest Mortgage Company has the option to increase the "wholesale interest rates" we receive up to a "retail interest rate" like most lenders, OR pass the savings onto the borrower — which is what we chose to do. In summary, while we enjoy providing great service, we get even more pleasure in saving our clients money each and every month! Kind regards,  Broker/President |
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