Your realtor’s referral will have a high rate

In this video, I share a mortgage secret that you may not be aware of. I explain how realtors who refer lenders to buyers often lead to higher interest rates. The reason behind this is that the lender makes a significant profit from your transaction and builds a close relationship with the realtor. As a result, when you start looking for houses, the realtor refers you to that lender, making it less likely for you to shop around for better loan options. I also discuss the potential consequences of not shopping around and how it can lead to higher interest rates and additional fees. Watch this video to learn more about this mortgage secret and how it can impact your home buying process.

0:00 Here’s a mortgage secret you may or may not know, but essentially realtors that refer lenders to you, the buyer, that lender is most likely to have the highest rates in the industry.

0:17 The reason for that is that lender is making a ton of money off your transaction and their game plan is to basically schmooze with your realtor take them out to lunch take them out to a sporting event become best friends with them and then when you the buyer.

0:36 The reason for that is that lender is making a ton of money off your transaction and their game plan is to basically schmooze with your realtor take them out to lunch take them out to a sporting event become best friends with them and then when you the buyer.

0:45 Because you know, like, and trust your realtor. So why would you shop it right plus you don’t want to go against the grain that.

0:53 Lender knows that and so they’re going to be able, you know, they’re going to potentially charge you higher interest rates than the standard and fees on top of that.

1:02 So if you do get a referral from your realtor. At a local lender, make sure to shop that loan. Super important.