Consumers consistently overpay for mortgages because the Loan Originator receives a commission that increases the borrower’s interest rate. Also, lenders make more money on loans that have higher interest rates, so interest rates can vary between lenders by as much as .50%.
The founders of RateGravity, Patrick Boyaggi and Mike Tassone, left their jobs as mortgage banking executives to address this flawed system and to empower borrowers to make their best financial decisions. RateGravity’s technology allows the company to collect consumer information in less than 10 minutes. Consumers will learn whether they will be approved for financing, and if so, exactly how much they can afford to borrow. The system provides complete transparency into the range of interest rates available for the consumer’s particular needs.
RateGravity keeps potential borrower’s personal information completely confidential, so they are not bound to any specific lender and can feel assured that they are getting a fair deal. In addition, every RateGravity customer is paired with a personal mortgage expert who is available on demand to answer questions or discuss scenarios. RateGravity’s mortgage advisors are non-commissioned, salaried employees who are evaluated on customer satisfaction.
Thanks to proprietary technology, RateGravity is able to operate more efficiently and therefore charges their lenders a flat fee that is just one-quarter of the average commission a Mortgage Broker would receive. Thus, RateGravity has negotiated preferential terms with a fully vetted network of local lenders, meaning more options and more savings for consumers. To date, RateGravity customers have saved an average of more than $20,000 over the life of their loan.
Follow These Three Simple Steps to Find Your Best Deal with RateGravity:
