Frequently Asked Questions How can a small, Traverse City mortgage lender get me a good deal? Good Harbor Mortgage Company aggressively searches out innovative loan programs and competitive pricing to save you time and money. Just like most of our bank and mortgage company competitors, we sell our loans through secondary market channels. Our low overhead allows us to offer the very best pricing, especially with larger loan amounts. Furthermore, unlike the majority of mortgage companies with offices in the Traverse City area, we are not a "net branch" operation. (We have our own licenses and pay our own bills). As a result, we are not required to split profits nor pay extra "junk" fees to the home office which keeps your closing costs low. Do you have an application fee and what are your closing costs? No, we do not require an application fee. The only fee directly payable to Good Harbor Mortgage Company is a $350 processing fee paid at closing. Other lender fees vary from investor to investor but generally run about $450-$550 (includes underwriting, flood certification, document preparation, tax service fee, assignment fee, etc.) for most conventional loans. There are other fees payable to third parties such as appraisers, title companies, register of deeds etc. We do not mark up fees on any third party services to pad our profit. We will provide you with invoices showing actual amounts paid to third parties. Of course, we will be glad to e-mail, fax, mail or review with you in person a detailed good faith estimate of closing costs at the beginning of the loan application process. How is Good Harbor Mortgage Company different from its competitors? Our advice and experience bring value to the transaction. You will have direct, one-on-one, contact with your loan officer who is responsible for your loan from start to finish. All loan officers have direct access to the owner, Dean E. Sheldon III, who has been practicing law since 1986 and working in mortgage related fields since 1998. We understand the quirks of the area real estate market. We work with the finest area appraisers and title companies to keep surprises and problems to a minimum. Bad advice, inexperience and laziness can make for a costly loan and an unpleasant experience. What is your specialty? Our main focus is originating larger conforming and jumbo loans. We excel in finding niche financing for borrowers who have good to excellent credit but have difficulty fitting into standard guidelines for conventional loans. We also take great pride in helping first time home buyers with zero down financing and borrowers with less than perfect credit. If we can't help you, we will tell you why and what we think you can do to help you achieve your goals. We strive to treat people from all walks of life the way we would like to be treated. |