Sydney’s Emanuel School’s Class of 2021 exceeded expectations under the shadow of the COVID pandemic. Their resilience and perseverance throughout their remote learning journey and the extended build up to the HSC Examinations has been impressive. This ability to work independently under difficult conditions is a highly prized mindset and skill that they will carry…
Why Some Lenders Can Offer Lower Rates Than Others By Shmuel Shayowitz | April 08, 2021
Competition is usually beneficial for consumers, especially when it comes to comparable offerings. When suppliers know that their product can be shopped and matched, it often prompts them to deliver their best price upfront. Despite over 90% of conventional loans being sold to the same FHFA Agencies, not all loan sources are equal when it comes to getting “the best deal” for their clients.
Let’s start with “margin.” Typically, the margin is the profit that a particular lender or bank is looking to make on a given loan. Of course, pricing varies at the different mortgage companies, but quite common is the fact that larger organizations need to incorporate their massive overhead and infrastructure costs into the equation. More hierarchy and layers of personnel mean more “touches” and a higher cost-per-loan, resulting in a higher rate or fee to the cons