Texas mortgage broker helps homebuyers avoid retail mortgage rates to make homeownership more affordable and increase home purchasing power.
ALLEN, TX, Feb. 21, 2023 /PRNewswire/ -- The nation's top lenders offer wholesale mortgage rates, but many homebuyers are unaware and continue to pay a retail rate for their home loan. A retail rate can be 25 to 50 basis points higher than a wholesale rate which translates to a higher mortgage payment. Competitive Home Lending is determined to change that by offering wholesale rates from the nation's best mortgage lenders.
Real-time access to current wholesale mortgage rates.
"We want to make homeownership more affordable by helping homebuyers avoid retail rates that are offered by large banks and direct mortgage lenders," said Raul Hernandez of Competitive Home Lending. As an approved wholesale mortgage broker to the largest mortgage lenders, Competitive Home Lending is authorized to offer the same home loan products as major retail lenders but at a below-market rate. This offers homebuyers several benefits:
- A lower monthly mortgage payment
- An increase in homebuying power
- Lower closing costs through lender credit incentives
- Lender paid temporary rate buydowns
The difference between a retail rate and a wholesale rate can be enough to cover a large portion of the home loan's closing costs or can be used for a temporary rate buydown. Based on the average home price in the Dallas-Fort Worth metro area, homebuyers can save enough money per year to offset the cost of some utility bills or use the difference to add to their savings. A wholesale mortgage rate can increase purchasing power by over 2%. This is about a $10,000 purchase price increase and can mean the difference between a starter home or the perfect home, or it can cover the cost of adding builder upgrades on a new construction home.
Tips on how to shop for the best mortgage rate.
Potential home loan applicants can now access the most competitive mortgage rates available in the market at any time, simply by visiting Competitive Home Lending's website. Additionally, Competitive Home Lending's team of experts can help guide customers through the loan process, answering questions and providing personalized advice.
About Competitive Home Lending
A Texas and Colorado mortgage broker, Competitive Home Lending helps homebuyers get an affordable home loan. For more information, visit chlending.com.
SOURCE Competitive Home Lending
![](https://rt.prnewswire.com/rt.gif?NewsItemId=DA17787&Transmission_Id=202302211048PR_NEWS_USPR_____DA17787&DateId=20230221)
Share this article