Loan Search (www.LoanSearch.com) is a FREE, information service sponsored by 20 of New Jersey's most competitive savings banks. Joseph Eamon Cummins, author of the authoritative home buying guide "Not One Dollar More", calls Loan Search "a model of service worth every borrowers attention" and "an innovative service I can endorse...." Mr. Cummins is an award winning writer for Money, Business Week and Kiplingers who has appeared on CBS, NBC, CNBC and other national radio and television networks. At Loan Search our only goal is to help you obtain the most favorable rates and terms available based on your financial needs, circumstances, and objectives. There is no charge or obligation and never any sales pressure. Loan Search has helped over 50,000 of your friends and neighbors seeking to purchase or refinance their home. Our customers have obtained nearly $2 billion in home mortgages through the Loan Search system. Loan Search is the oldest and largest service of it kind and is a member of the Better Business Bureau of New Jersey.
Loan Search is federally regulated and is required to be lender and product neutral. Therefore we have no incentive to "steer" customers to a particular lender or loan type. You receive the same low rate and fees as you would if you found the same bank on your own.
There are 800 banks and mortgage companies licensed to conduct business in New Jersey. At any time, only a few have the best rates and none are best all the time or on every product. Like most people, you are a busy person who may not have the time to thoroughly shop for the best terms. Mortgage shopping is a time consuming, confusing, frustrating experience. In addition, obtaining a rate quote does not assure you that you will meet each lenders specific underwriting requirements. Loan Search only quotes rates from lenders who will approve your loan assuming the information you have provided us is reasonably accurate.
For people with good credit, our savings institutions offer the best rates and terms. They can do this because they keep the loans they make. Mortgage companies and large regional banks make loans which are generally sold to investors at a market price plus a commission. This can result in higher rates and fees, standardized underwriting and loan limits. When you get your mortgage though Loan Search you know which bank is lending to you and you speak directly with the people who will be approving your loan. There are no middlemen, no misunderstandings or unnecessary delays. Commitments are usually issued within 14-28 days from date of application.
Since banks use federally insured deposits to make loans they are more highly regulated than other types of lenders. This provides you with not only the lowest rates and fees and the highest assurance against misleading or deceptive practices. Also, our banks keep nearly 95% of their loans.
Loan Search is committed to providing both great rates and great service. We retain an independent company that surveys hundreds of customers who have used Loan Search and participating banks for service quality. 94% rate Loan Search as Excellent or Outstanding and would use us again or recommend us to a friend! LOAN SEARCH EMPLOYEES ARE SALARIED AND NEVER PRESSURE OUR CUSTOMERS.
Our system maintains the latest rates and underwriting requirements of all our lenders. In most cases we can confirm a quote during the course of a 5-10 minute telephone interview. If you prefer, you can visit us at www.LoanSearch.com to view a complete listing of current rates and programs. Complete the Request A Quote section and we will email a detailed quote, including all bank fees and terms, based on your requirements. Email quotes are usually provided within 2 hours when received during normal business hours.
We require information regarding the market value of the property, real estate taxes, gross household income, and monthly payments for any installment debt. We do not ask for your social security number or account numbers and all information is kept strictly confidential. Please visit our site at www.LoanSearch.com to see a complete list of rates and to Request A Quote. You will receive a detailed quote showing all fees, rate lock and terms.
| Program | Rate | Points | APR | Max. Loan Amt. | Rate Lock | Fees In APR |
|---|---|---|---|---|---|---|
| 30 Yr Fixed NO COST | 6.125 | 0.00 | 6.125 | $500,000 | 30 Days | $0 |
| 30 Year Fixed | 6.125 | 0.00 | 6.162 | $1,000,000 | 60 Days | $395 |
| 20 Year Fixed | 5.875% | 0.00 | 5.92 | $417,000 | 40 Days | $485 |
| 15 Yr Fixed JUMBO | 5.50 | 0.00 | 5.561 | $1,000,000 | 60 days | $395 |
| 10/1 ARM JUMBO | 5.875 | 0.00 | 5.658 | $1,000,000 | 90 Days | $440 |
| 7/1 ARM JUMBO | 5.750 | 0.00 | 5.462 | $1,000,000 | 90 Days | $485 |
| 5/1 ARM JUMBO | 5.625 | 0.00 | 5.323 | $1,000,000 | 90 Days | $485 |
| 3/1 ARM JUMBO | 5.375 | 0.00 | 5.648 | $1,000,000 | 90 Days | $485 |
| 15/30 (north NJ) | 6.125 | 0.00 | 6.093 | $1,000,000 | 90 Days | $500 |
| [The information on this page is updated directly by the lender using HSH's LiveEdit service. Please contact the lender with any questions or comments about the information posted here.] |
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532 Bloomfield Ave. Verona, NJ 07044 Toll Free: (800) 591-3279 Office: (973) 239-7373 |
Licensed mortgage broker, NJ Dept. of Banking & Insurance. License No. 9400835-C17.
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