I recently sat down with Jason Holter over lunch at Perry's in Friendswood, Texas.  Not much can beat the Wednesday Pork Chop Special...  Jason one lender that I use for my clients in the Friendswood, Leauge City, and Clear Lake areas of Houston, Texas.  We got to talking about buyers that use the Internet to find their lender, and here's what he had to say:

An increasing number of astute borrowers are using the Internet to shop for the best mortgage rates. Unfortunately, it is easy to forget that the rates reflected on the rate monitor web sites are advertisements, specifically designed to generate leads for the companies who pay fortunes to have their rates listed.

I received a call from a valued client who had just come to us for mortgage financing for the 3rd time. Although she had always been a very loyal client she expressed some concern that the zero point rates she found on the Internet were around 3.125%. What's the deal Jason? After all these years, and all the customers I've referred to you, why are you trying to rip me off??

Everyone had heard the old adage about things that "sound too good to be true" and Internet mortgage rates are no exception. Upon hearing the doubts created by the Internet mortgage advertisements, I felt compelled to research the credibility of the rates quoted. I logged onto a mortgage rate monitor website and found a rate of 3.125% and zero points listed by a number of Internet mortgage factories. I then proceeded to each individual website as if I were going to apply for a mortgage and acquitted quotes for rates and closing costs. The rates were a half to a full percent higher than advertised, the zero points did not pertain to the excessive lender fees and there were more disclaimers than the fine print on a new prescription drug advertisement. So why are these companies flooded with business?

Why are people willing to pay more and trade in personal service for technology? Would we rather deal with a drop-down click than an uplifting visit with a mortgage professional that can help us make the best choices? How did something called a mouse come to wield so much power? Your home mortgage is one of the biggest decisions in your life and the smallest mistake can cost you and your family a fortune. Surfing is no way to navigate through the maze of mortgage products available today. There is nothing wrong with doing your best to get a great deal, but remember... There is no secret pool of cheap money, and you cannot go directly to the manufacturer to get a mortgage. The best mortgage lenders have access to the most programs at the lowest rates.

If you would like additional information of mortgages in Texas please visit the website www.HoustonMTG.com.  You may also email Jason at jason@houstonmtg.com