Here are several reasons why you should never take out a mortgage loan from your bank. Bank loans don’t have retail markup of this type; however, they mark up mortgage rates to above-market values to boost their profits. Every bank does this and because of the loophole in RESPA legislation and no bank will ever disclose how much they have inflated your mortgage interest rate. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders.

Because your bank is exempt from RESPA laws, the bank will never tell you how much your mortgage interest rate has been marked up. Your bank is not legally required to disclose anything beyond the Annual Percentage Rate of your mortgage. To get your hands on this free video tutorial: "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. The Real Estate Settlement Procedures Act or RESPA for short protects homeowners from predatory lending practices by requiring mortgage lenders to disclose their fees and broker markup of your mortgage interest rate. These rate sheets have Service Release Premium already built in; however, you can get an idea of what the going wholesale rate is by checking the weekly yield on Fannie Mae’s website.

Your Bank may seem like a convenient way of refinancing your mortgage loan; however, Banks have secret when it comes to disclosing information about their fees and markup. The lobby spent millions of dollars romancing Congress to give banks an unfair advantage over their customers. The only way to spot this markup that your bank includes in their rate sheets is to find out what the going wholesale mortgage rates are. To get your free mortgage guidebook visit RefiAdvisor.com using the link below. Here are tips to help you avoid paying too much when refinancing your mortgage loan.

As you can see the cons of bank funded mortgage loans clearly outweigh and advantages. What makes a profitable investment on the secondary mortgage market? The answer: high interest mortgage debt. These rate sheets have Service Release Premium already built in; however, you can get an idea of what the going wholesale rate is by checking the weekly yield on Fannie Mae’s website.

To learn more about your mortgage options and common mistakes to avoid, register for a free mortgage guidebook. The bottom line is that your bank will not be less expensive than other options; your bank will always overcharge you for the mortgage loan. • Bank Loans are Convenient • Bankers are Less Likely to Use Pressure Sales Tactics • You May Already Have a Relationship with Your Banker. You can learn more about finding the best mortgage loan without overpaying by registering for a free mortgage guidebook. If you are not familiar with RESPA, it is the Real Estate Settlement Procedures Act that protects borrowers in the United Sates by setting guidelines for disclosure.

They will swear to you that the interest rate is not marked up in any way and even show you the bank’s rate sheets. Banks exploit the loopholes in RESPA to make their loans seem more affordable with the fees and closing costs; however, they hit you with undisclosed SRP markup on your interest rate. Bank loans don’t have retail markup of this type; however, they mark up mortgage rates to above-market values to boost their profits.

Don't expect bank employees to admit their rates are inflated; most bank employees know very little about mortgage rates and will swear the bank rates are not marked up. What makes a profitable investment on the secondary mortgage market? The answer: high interest mortgage debt. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders.

Another problem with banks is that your banker will be much less likely to negotiate for terms and interest rates because of the loophole. Banks routinely overcharge their customers by marking up mortgage interest rates. What is SRP and why should you avoid banks altogether for your next mortgage loan? The answer will surprise you. To get your hands on this "Mortgage Refinancing Toolkit," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.