Here is how:
Purchase Price = $250,000

Selling Realtor—Tells the seller to expect to pay $3,000 to $5,000 in closing cost for the buyer because they are going to ask for it.

Buying Realtor—Gets the buyer to get pre-qualified and tell them how much to expect t in Closing Costs. The Realtor says, we can ask for this to be paid by the seller and they will pay it if they want to sell.

The costs between a regular 1% origination loan and a true NO COST Loan is usually 3/8th to 1/2% difference in rate. This means that if you could have gotten 6% with $5,000 in total closing costs, you could get 6.5% for $0. Why would you take a higher interest rate? If you don’t take the rate, you are saying that you know the mortgage market is at the lowest it will be in the next 5 years and it will never be any lower than it is now. The reason 5 years is important is because that is your PayBack period. That is how long it is going to take you to make up closing cost you paid $5,000 with the monthly difference in payment of about $81/month.

If you take the higher rate, then if the rates drop the day after you close, you can refinance and float down with the market for p and then Go Down and then Go Up and then Go Down), you will win.

So with the example above:

Seller—loses $5,000 off the asking price because an inexperienced Mortgage Broker or Banker told the buyer that this is what I can do.

Buyer—although they think they didn’t pay for it, they really did because they could have bought the house for $5,000 less. That means they are paying interest on $5,000 extra for the time they own the house and they have to pay it back when they sell.

Buyer—could have refinanced in the next 6 months and received the 6% they were willing to pay $5,000 to get for Free 6 months later when the market does what it normally does and that is (Go Up and then Down)

We have know this for years and this is why we bring so much value to all of our customers. We keep track of your mortgages for you for life. We do what makes sense. Even if you have just paid $5,000 for financing, we will still be able to put you in our system and call you when it is possible to save you money.

Call me directly for free consultation.
Phone: 704-597-9077
Contact Larry Thompson Click Here

Visit Venture Companies Website – Charlotte North Carolina Real Estate Experts

Let me first begin by giving you a little background about myself. I graduated from Clemson University in 1994 with a degree in Finance and have an MBA from University of North Carolina at Charlotte. I served 9 years in the South Carolina National Guard as an Engineer Officer where I gained invaluable experience. I got my Real Estate license in 1999 and formed Thompson Realty along with my wife, Kim, who’s also a graduate of Clemson with an MBA in Accounting from UNCC. I began investing in properties in the Charlotte area and bought and sold so many properties, that my Mortgage Broker at that time wanted me to start doing my own Mortgages. After learning how to make the Real Estate and Mortgage businesses work together, I formed Venture Realty in 2003, where we combine the Real Estate, Mortgages and Attorneys all under the same roof.

In 2003, I became the #13 ranked Rookie Mortgage Broker in the nation.

By 2007 I was ranked #15 nationally on Loan Volume alone. I currently serve as 1 of 22 national members of RMG (Realty Mastermind Group), a group of Top Real Estate Experts in the U.S., who sell between 100 -500 homes a year. Our sole purpose is to share best practices and information on current markets strategies. I’ve also been the only agent in Charlotte, to be featured in the book “Billion Dollar Agents – Lessons Learned 2006”. To be featured in this book, you had to achieve or will achieve 1 Billion Dollars in sales in your career.

Today, under the global heading of Venture Companies, we’ve developed into a ONE STOP SOURCE for all your Real Estate needs. Our current 7,000 sq. ft. office houses Venture Realty, a full service Real Estate Firm, a branch of 1st Metropolitan Mortgage, a National Mortgage Company and Venture Investments, a company specializing in finding foreclosures and Real Estate Owned Properties. We also have a Property Management company that services the rental market and an in-house Attorney that closes all of our real estate transactions while providing legal consultation to our clients. By having all of these services under one roof, I feel it gives our clients the convenience and satisfaction of having all their needs met in one place – something nobody else can provide.

Thank you for your time and logging on to this site. I look forward to creating a place to share my experience and knowledge with those of you who want to gain knowledge and continuously learn about the changing Real Estate market. Keep watching for new additions.