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See LIVE Mortgage RATES based on your personal qualification!
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In order to receive a guaranteed rate, you must have applied for an application through the Metzler Team at Mortgages Unlimited and received a WRITTEN confirmation from a loan officer that your desired rate is locked. Your guaranteed mortgage rate will depend on factors such as current market conditions, loan product, occupancy, property type and your credit profile. Minnesota residents must receive a written confirmation as required by Minnesota Statute 47.206. This is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Rates, points and programs are subject to change without notice and cannot be guaranteed. |
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The Truth About Mortgage Interest Rates:
While you see interest rates online, or in printed material such as newspapers, you must understand all lenders have the same basic interest rates and hard costs. No one lender is able to be significantly better than anyone else. It is all about the advertising, and the rate and costs combinations. It is our belief that posting rates is basically unfair to the average customer. Rates listed here are a basic indication of where the market is at, as opposed to what you may actually receive, because:
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1) Quoting rates without understanding the customers exact situation, or having a full application is VERY misleading. Many things effect your actual rate. Loan-to-value, credit scores, state the property is in, closing costs, and much more.
2) We are in a world economy and interest rate fluctuations occur around the clock. Interest rates are changing ever second of the day and unless you communicate with a loan officer and get information at that moment in time, you could be making a poor decision. Most lenders, as well as us, change their pricing throughout the day. It is nearly impossible to always keep a web site 100% current.
3) Quoting interest rates when you can’t lock (after hours), or when you haven't filled out a full application, therefore not being in an actual position TO lock, is not in your best interest.
4) If you are buying, and do not have a house picked out, many lenders knowing quote low to get your business and stop you from shopping because then do not have to honor what they quote today!
5) Most automated online rates quote systems (even ours) can only calculate a standard situation, and nothing is guaranteed until the lender has taken a full mortgage application, reviewed all documents v ital to your transaction, including W2's, pay stubs, banks statements, a credit report, and appraisal.
Why can rates on this web site be different from those with other company Loan Officers or branch office? Rates on this site are discounted due to the streamlined process we have for online approvals. If you need to talk to a loan officer about a loan at one of our other lending offices, the rates quoted may be different. This usually is because they have already professionally analyzed your complete application, and these rates may not apply to your exact situation.
Rates listed and quoted on this site are only available to those individuals who apply and are approved for a mortgage loan through a Metzler Team at Mortgages Unlimited, Inc web site or by calling (651) 552-3681.
Remember, no lender is able to quote 100% accurate rates until they have a full application, have reviewed credit, etc. Rates posted here are an indication of where the market is generally at, as opposed to what you may actually receive.
Although you may see Interest Rates published on the Internet and in the Minneapolis paper or your local newspaper, many times these are primarily "teaser" rates. Be careful of focusing too much on a published Interest Rate from sources such as the newspaper, or on the Internet, that appear to be objective, but are really items they push for their paid advertisers. They appear competitive, but may really be a representation of a product that does not relate to your situation, or more often, comes loaded with points or costs you do not want to pay. Your final interest rate will be determined by several factors, including credit, loan amount, loan-to-value ratio, and debt ratio.
We maintain the lowest TRUE closing costs in the industry, and the Minneapolis, St Paul Minnesota area. Even for first time home buyers! When comparing rates in Minnesota, be sure to compare closing costs too. An Interest Rate quote is just the tip of the iceberg, and basically meaningless unless you know who your dealing with, and fully understand the associated costs! There is so much more to your loan than looking at some low teaser rates through some automated web site quoting system! That is why you won't find rates here. We believe in accurate quoting based on your exact situation.
Get a Mortgage in MN! Our lender closing costs and Third Party Fees are extremely low, as we DO NOT add any junk fees to your closing costs. Don't sacrifice service, your time, and your credit scores shopping when we offer a Satisfaction Guaranteed Rate
We remain as one of the most popular Minnesota mortgage sites on the Internet and it's not just because of our LOW rates. Its because we offer the whole package!
We are a Minnesota based direct lender and mortgage broker, giving you the best of both worlds. We offer great rates, qualified Loan Officers, and a wide range of products. We keep it simple! Slick advertising is not our game. We think MATH and so should you! Before choosing any lender, read "Rate Shopping" and learn how to cut through the advertising BS!
TOP REASONS YOU
SHOULD HAVE US HELP YOU:
We provides fully
automated processing, with all of the latest approval systems, and give you
instant Email notification of each step of your loan! As both mortgage bankers
and mortgage brokers, our clients receive double benefits with one loan
application.
Best
Rate or Lowest Cost? Don't be fooled by one
or the other.
Read this article for eye opening information.
Beware
of the BAD Good Faith Estimate Avoid the pitfalls of
misleading estimates.
Using
APR to select your loan CAN COST YOU MONEY!
The lowest
APR does not automatically mean the best deal.
Long
Term Locks Not
closing for awhile? Click
here for long-term lock information.
Thinking of breaking a rate lock? It may not be worth it!
Due to the
ever-changing nature of mortgage interest rates, it is almost
impossible to keep a web site current. For example, a
client may visit the site at 12:00 PM only to call at 2:00 PM and
find that the rates have changed. Therefore, we prefer you
contact us for a more accurate and expedient method in relaying
current interest rates to our prospective clients.
MORE Minnesota and Wisconsin Mortgage RATE INFO
The Law REQUIRES ALL LENDERS TO QUOTE "APR", not interest rate. It is almost impossible to quote APR (annual percentage rate) without discussing the exact details of your specific transaction with you. If you have less than 20% down or equity, make sure they include PMI in the APR (as required by law).
Due to the instability of the financial markets, interest rates are subject to change without notice. Sometime two or more times in one business day! Any rate posted at 10:00 AM may no longer be available at 11:00 AM.
Interest rate may vary depending upon your unique credit history and the transaction, plus you may not qualify for the desired rate or program.
Most online rate quotes "assume" a 20% down payment, and a 30-day lock. This may not fit your needs, and could easily distort your rate shopping.
Most online rate quotes are for loan amounts about $200,000
While rate is important, you have to look at the overall cost of your loan. (Click HERE for REAL closing cost information) This includes looking at the APR, the loan fees, as well as the discount points and origination fees. Some lenders include origination in their quotes, while other lenders add origination in addition to their quoted points. So when one lenders says 2 points they mean 2 points, whereas another lender means 2 points plus 1% origination. Some lenders quote "lender fees plus prepaids" when you ask about closing costs, where other lenders quote every penny required to complete the transaction. The quoted difference can APPEAR to be thousands of dollars, when in reality, it is not. Be sure to read "Beware of the BAD Good Faith Estimate" so you don't get taken by misleading information.
The cost/rate of the mortgage, however, cannot be your only criteria. There is no substitute for asking family and friends for referrals and for interviewing prospective mortgage companies. You must also feel comfortable that the loan officer you are dealing with is committed to your best interests and will deliver what he/she promises! That the company knows how to do Minnesota loans, and that the loan will actually close. Communication with your loan officer is too important to let a "lowest rate" quote on the Internet make your lender decision. CLICK HERE to see our Mortgage Lender Commitment To You.
Avoid Internet Lenders and Stick with a Local Company!
THE FEES QUOTED AT LOAN APPROVAL WILL BE
THE FEES AT CLOSING!
It's our NO SURPRISES
GUARANTEE
Equal Housing Lender |
33 Wentworth Ave E - Suite 290 |
(651) 552-3681 |
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Our services available only for properties located in Minnesota and Wisconsin. PLEASE DO NOT KEEP US A SECRET from your FRIENDS. Licensed as Mortgages Unlimited, Inc. NMLS # 225504. As a Lenders One partner, we are part of the 3th Largest Retail Mortgage Originators in the country. We are consistently ranked as one of the top mortgage lenders in Minnesota by Minneapolis St Paul Business Journal. Any use or duplication of any materials is strictly prohibited. All images, text, and materials Copyright © 1998-2012. Metzler Enterprises, LLC. All Rights Reserved. Joe Metzler NMLS # 274132 |
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