1)Why should I pick Iron Harbor? We believe you will have a more professional experience with us. With other lenders, finding out what their rate is on a given day is harder than it should be. We publicly publish our rates and our rates are typically .125% to 25% lower than a large bank. We have a simple flat lender & attorney fee structure and a great rate with 0 points. We assign almost all of our loans to Wells Fargo. The bottom line is that you receive excellent service, lower rates and know that your loan will be serviced by Wells Fargo. 2) How will I notice that the experience is more professional? We start with a detailed preliminary quote which provides you not only with a great rate with 0 points but also a complete picture of the other rates that are available and their corresponding payments, closing costs and estimated cash to close. You will notice the expertise difference on the phone with us. We ask thorough, detailed questions so that we can identify as many of the unique elements to your file at the very beginning and avoid surprises at the end. Once you apply, our initial loan packet requires minimal effort on your part and has additional explanations where applicable, so that the forms make sense. The communications that you, your real estate agent and the title company receive from us during the loan process are all designed to insure a smooth process towards closing. Finally, you will receive a copy of your key closing documents typically at least 1 day prior to closing for advance review. Our customers have been closing with no surprises since 2001. 3)How do you provide better rates at lower costs than a large bank when you are a mortgage broker? - We receive wholesale pricing from Wells Fargo and have a lower cost structure than a typical large bank. On the vast majority of our loans Wells Fargo pays yield spread premium which is credited to you and offsets additional origination costs you would typically incur with another bank for the same rate. The best test is to take our 0 point rate and compare it to your bank. 4)Can the terms of the original loan with Iron Harbor change? - On your initial Good Faith Estimate, your loan terms will be clearly spelled out. Prior to closing, we will review your Note with you, which is the loan agreement. By law, this agreement cannot change. Also, we do not offer loans with pre-payment penalties. You can make principal reductions or payoff your loan in full at any time without penalty. Throughout the mortgage crisis, our loan portfolio has performed exceptionally well. We have always practiced responsible lending because it was the right thing to do. 5)If you are in Austin, where do we sign final paper work? Closing documents are sent via email to the local title company where you close your loan. Typically the seller selects the title company for the closing. Even if you selected a local mortgage company, the loan documents would be emailed to the closing.
Broker NMLS #249828 Company NMLS #349828 Equal Housing Lender
Iron Harbor Mortgage, L.L.C. 815 Brazos, Suite 705 Austin, TX 78701
