August 19, 2007

We Saved a Full Percentage Point On Our Loan

To whom it may concern,

My nephew heard that I was about to refinance a property that I hold for income. My nephew repeatedly recommended and spoke highly of a loan broker he knew, Britt Miller from Steelhead Residential. I agreed to call Britt in hopes that my nephew would no longer pester me.

I've been around; I've had several loans for both my primary residence along with rental properties. In my youth I sold many homes and recommended many loan brokers. Most recently I had been utilizing a very successful broker and great businessman from another company.

Regardless, I called Britt and he was different. I have never had a telephone conversation with any broker that lasted longer than 25 seconds. Britt and I spoke about my immediate needs and about future plans. We compared loans and determined why one loan was better than another. Every conversation was informative and the point of the conversation was always about the benefits to me.

We closed our loan a full percentage point lower than I had expected. The processing fees were lower. The appraisal was lower. The origination fee was lower. I'm a believer in the preferred residential mortgage program.

Thank you!
John Herndon,
San Francisco, CA

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