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Discounted commercial mortgage rates offered by brokers: not banks

05/29/2007

Discounted rates for commercial mortgage loans are only offered through The Mortgage Store Online - and other brokerages or brokers who are willing and able to offer discounted rates.

Discounted rates are rates that have not been inflated for purposes of making a profit for the brokerage or lender providing the rates. Banks however, charge borrowers inflated rates in order to make a profit for their services to the customer: their inflated rates are generally called "posted rates."

"Customers who go directly to branches of banks seeking commercial mortgages, will initially be offered posted rates that can be much higher - even a half percentage higher - than discounted rates accessed through our company," says Janovich, president of The Mortgage Store Online. "Unless the customer barters with the bank representatives for the discounted rate, they won't get it," he continues. "No one should have to barter for something as serious as rates for their commercial mortgage loans: banks should be focused saving the client money so their real estate plans can be realized, and right now their focus is on trying to trick customers into paying an inflated rate."

For example, the current lowest discounted rate offered by The Mortgage Store Online is 6.85% - while a major bank's lowest posted commercial rate is currently 7.34%. Although the difference percentage-wise may not seem drastic, on a $1 million mortgage, our discounted rate of 6.85% will save a consumer $140,095 total in mortgage payments over 35 years. In another light, it means that the bank that's charging the higher inflated rate of 7.34% is making an extra profit of $140,095 off of a consumer getting a $1 million mortgage loan.

Get free commercial mortgage rate quotes from one of The Mortgage Store Online's licensed mortgage agents. Just fill out the commercial mortgage rate quote form or call (866) 674-0548 .

For regular rate updates, subscribe to our commercial mortgage RSS feed, or visit our rates page for current mortgage rate information.

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