Pleasanton, California

Dear Friend,

Of course, you want to pay the least for owning your home.

But you're received conflicting, confusing advice, and you don't know where to turn. You want to pay the least amount both at closing and with your monthly payments, and you should!

That's where I come in. I have saved thousands of home owners millions of dollars over the years. It has been my lifelong goal.

In the past 20 years money-saving strategies have changed as mortgage types and loan programs have multiplied. Over the years I've discovered exactly what works and what doesn't work when it comes to paying the least amount to own the same house.

Keep reading, and I'll show you exactly what works and what does not work when it comes to saving you the most amount of money.

The first thing we need to do is get you to understand what you're up against. Well-meaning family members and friends sometimes pass along misleading tactics and along with advice for avoiding bait-and-switch schemes as you discuss your plans for buying or refinancing a home.

Other times ill-informed or unethical real estate professionals deliver the information to you. They really aren't at fault.

Part of the problem is our own addiction to strategies that never work...

1. The first is to scan the newspaper and look for the lowest advertised interest rate. Since interest rates are subject to change at least daily, the rate you'll receive has as much similarity to the advertised rate as today's winning lottery numbers have to tomorrow's numbers.
2. The second strategy is to partially fill-out loan applications on the Internet. You expect for lenders to "fight for your business" and judge the winner as the one who quotes you the lowest rate. This never works because there are too many unknowns and assumptions made.
3. The third strategy is leaving the choice to your real estate agent. Agents may have the best of intentions, but don't necessarily understand mortgage financing. Would you expect your psychologist to be up on the latest bone cancer treatments?
4. The fourth strategy is to just go to your local bank. If you are satisfied with any loan offered to you, then just trot down to your local bank.
   
   You see banks have many different products (savings accounts, checking accounts, travelers checks, credit cards, ATM cards, Christmas accounts, car loans, etc.), but usually offer very few choices of loans.
   
   If you think they'll make it easier to qualify since you have a savings account with them, think again. Loan underwriting qualifications do not check simply because you have been a customer of theirs all your life. 

My strategy is to use the most appropriate loan product for each borrower's particular needs. It is not a matter of finding the best 30-year fixed rate mortgage. An interest-only mortgage may be most appropriate for you.

Is a second mortgage a better solution than a home equity line of credit?

Is really depends on how you'd like to repay the loan and how much you can afford to pay each month.

How can a person save money using negative amortization when the loan amount is going up as opposed to a traditional mortgage with the principal is being paid down?

You bet, but this option might not be right for you.

So what's the best way to obtain a mortgage?

Many people take a pessimistic view. They figure there's too much to learn, too many options. They just want to move into the home of their dreams, and be done with it. Spending a few dollars more each month is no big deal. Well, they are wrong.

Would you needlessly spend $50,000 to $200,000 more for a home than you need to pay? Probably not. But if you accept the wrong loan you could wind up over-paying even more for the same house.

Buying a home is one of the most stress-filled, and most expensive, things that most of us will ever do. Here are three things that can make a difference:

1. I've discovered that arming yourself with knowledge about your loan options is the best defense against paying more than you need to pay when buying and owning a home.
2. Having a clear overall financial picture, and how your mortgage fits into that picture.
3. Working with and obtaining advice from a trusted source, a down-to-earth, level headed expert.

I am available to help you obtain the right mortgage. One that will meet your needs. Sign-up to receive strategies that will save you money, big money. I discuss many of them in my free Mortgage Insider Secrets series. This information will be emailed to you in weekly messages.

Sincerely,

Anthony Ferlazzo
Mortgage Consultant

Sign Up and You'll Enter Our Web Site, Too!