flat fee colorado mortgage loan
flat fee colorado mortgage loanflat fee colorado mortgage loanflat fee colorado mortgage loan
| Home | | Real Estate | | Refinance | | Rates/Costs | | Loan Comparision | | About Us | | Contact Us | | Investor Center |

 

 

Colorado Flat Fee Mortgages

 

 

Flat fee mortgage pricing is a unique approach to mortgage servicing that Syndicate would like to offer our clients. This is just one of the ways that we help discount your overall mortgage costs. The flat fee will replace the standard origination of 1% of the loan amount.* We have created two pricing systems: one for conventional loan amounts and one for jumbo loan amounts.

  • $1000 for conventional loan amounts of $0-$417,000
  • $1500 for jumbo loan amounts over $417,000

Mortgage rates will, in most cases, be quoted with two rates;one on either side of par value. Clients will have their choice whether they will pay a little to get a better rate or if they would like to receive money from the lender to help pay some of their final closing costs.

 For example on a hypothetical loan of $200,000; a client might be quoted:

  • 5 3/4% that would require an additional 12 basis points in cost or,
  • 5 7/8% that would pay the client 25 basis points toward their closing costs
 A basis point is a percentage of the loan. 100 basis points equals 1% of the loan amount. To determine the amount of savings or payment a borrower receives divide the basis points by 10000 and multiply by the loan amount. Using the example loan, at 5 7/8% the borrower would receive $500 toward their closing costs.

*All other closing costs including title, underwriting, appraisal and other third party fees will still apply.