A Startling 85% of Homebuyers in Texas Overpay for Their Mortgage Rate

Competitive Home Lending is committed to increasing awareness that could save the average homebuyer thousands of dollars on their home loan.

ALLEN, Texas, Jan. 18, 2024 /PRNewswire/ -- The top ten mortgage lenders make up over 47% of the market share. Aside from excellent customer service and great mortgage loan programs, these leading companies extend lower wholesale mortgage rates through authorized mortgage brokers such as Competitive Home Lending. Despite the cost-saving opportunity these mortgage lenders offer through lower-cost local mortgage broker channels, less than 30% of borrowers benefit from the savings. 'It is our responsibility to extend the opportunity to make home ownership more affordable to families buying homes in Texas,' says mortgage broker Raul Hernandez. Based on the average home price in the Dallas area, paying a retail mortgage rate can cost homeowners up to $30,000 more in interest payments over the life of the loan.

Current mortgage rates are always posted to easily compare mortgage rates and encourage buyers to shop for the best lender. 'We offer the exact same home loans directly from the nation's best lenders but at a lower mortgage rate that is not padded with the added cost of loan officer commission,' says Hernandez.

Current Mortgage Rates

Working directly with a mortgage broker eliminates the cost of paying a loan officer's commission that adds to the cost of homeownership. However, it is difficult for homebuyers to find a mortgage broker in a market saturated with loan officers. The NMLS consumer access directory is a great way to verify if the loan officer handling your home loan is the company's broker.

Real estate agents looking for ways to add value to the service they offer their buyers are partnering with Competitive Home Lending. The list of real estate agents learning about the benefits a lower mortgage rate offers their clients is growing. Our network of real estate agents knows lower mortgage rates attract more buyers due to the lower mortgage payments. Agents have been able to show higher-priced homes to their clients thanks to our lower rates. This gives agents an advantage in a competitive market.

Qualify for a Home Loan

Competitive Home Lending
As a local Texas mortgage broker specializing in wholesale mortgage loans, Competitive Home Lending focuses on spreading awareness of below-market mortgage rates. Mortgage Company NMLS 1047944, MLO NMLS 216096.

SOURCE Competitive Home Lending