Our last two mortgages were through a family member who works for a very large, reliable bank. We recently refinanced our primary home and received a letter from this company (Wholesale Mortgage). We had no intention of going with anyone but our family member, but their ���wholesale��� pricing was difficult to ignore. Our family member (and loan agent) discouraged us from calling, but I felt that I could spare five minutes to learn more. Sure enough, this company showed us how our own relative had added several thousand dollars to our loan (behind the scenes), despite claiming that he was offering a significant discount. They provided us with a new quote and they shared some insider techniques to lowering our rate. My brother-in-law agreed to lower his prices which saved us $1,700+/- in closing costs and 1/4% on the interest rate. Our agent at Wholesale Mortgage spent over 4 hours helping us, never billed me a penny, and they never once pressured us to do a mortgage or dissuaded me from using my brother-in-law. It���s so rare to find a business like this, that I set out to find a way to repay them. I want to share my experience to return the favor, and to help others in a similar situation. Everyone should research their options, even if they���re doing business with a friend or family member. If you���re like me, you���ll save about $5,000 for your efforts.
1800 N Federal HwyBoynton Beach, FL 33435
7400 W Camino Real Suite 100Boca Raton, FL 33433
From Business: SunTrust provides deposit, credit, investment services to retail, business clients. Our affiliates provide mortgage banking, asset management, securities brokerage,…
When we shopped our mortgage, this company was priced about the same as a company referred to us by LendingTree. We didn't originally go with wholesale mortgage because we thought we had received lower closing costs from the other company (turned out later that was not the case). Wholesale mortgage never pressured us to go with them, and instead they educated us about some of the problems people experience when using online mortgage companies, cautioning us to get a guarantee. Thank goodness for the assistance of Wholesale Mortgage. It turned out the other company would not give us a guarantee, and shortly after mentioning it, rates mysteriously increased by 1/4%, while the price offered by Wholesale Mortgage's stayed just the same. The staff at wholesale mortgage saved us from becoming a victim of 'bait and switch'.
My brother is in the mortgage business, so I called him before shopping around. Shortly after I applied for the mortgage, I received a flyer from this 'Wholesale Mortgage', claiming they could save me over $2,000 on my mortgage, without switching companies. I was skeptical, because my brother explained that he would not charge any 'commissions' or extra fees, but the flyer had peeked my interest. I was surprised at how helpful this company was, providing more information about the mortgage business than my own brother. Much to my surprise, I wound up saving $11,000 over the first five years of my mortgage, thanks to this company and their helpful advice. It's one of those experiences that make you want to tell everyone you know. Thank you Wholesale Mortgage!