A Second Opinion on Your Mortgage Could Save You Thousands

You got a mortgage offer. It looked reasonable. But here's the thing: most lenders count on you not checking. Rates, fees, points, prepayment penalties, these vary more than most buyers realize, and even a small difference compounds significantly over 30 years.

The myth that keeps buyers from shopping

What a second opinion covers

This isn't a vague "let me see if I can beat it" conversation. Jordan reviews your current offer line by line. Here's what gets looked at:

• Interest rate vs. the current market, is yours competitive?
• APR comparison, rate alone doesn't tell the full story
• Origination charges, discount points, and lender fees
• Prepayment penalties buried in the fine print
• Loan programs you may not have been offered: VA, FHA, USDA, down payment assistance
• Closing cost totals, not just the monthly payment

Questions worth asking before you sign anything

A good loan officer answers these without hesitation. If yours can't, that's worth knowing too.

• Is this rate locked, and for how long?
• What are the total closing costs, not just the monthly payment?
• Is there a prepayment penalty if I sell or refinance early?
• Are there any programs I qualify for that could lower my rate or reduce the down payment?
• What's the APR, not just the interest rate?

How the 15 minutes go

Send over your Loan Estimate. It's the three-page form every lender has to give you after you apply, and it has everything we need: the rate, the APR, the fees, the points, the prepayment terms and the cash to close. If you only have a rate quote or a pre-approval letter, send that instead and we'll work from it.

Jordan reads it the way an underwriter would, then runs the same file against PRMG's full product menu and the programs most lenders don't bring up: VA, FHA, USDA, down payment assistance, buydowns. Then you get one of three answers. Your offer is solid, and we tell you to sign it. The same loan can be structured cheaper, and we show you where. Or there's a program you were never offered that changes the math. All three happen every week.

What a second opinion is not

It isn't a sales call wearing a disguise. If your lender did right by you, you'll hear that, and you'll close with them knowing you checked. It isn't a loan approval or a rate quote, because nobody can approve a loan from a phone call, and any new loan would go through underwriting like every other file. And in most cases it isn't a credit pull: a Loan Estimate review runs off the paperwork you already have. We only look at credit if you decide you want us to make an offer of our own.

When it matters most

Under contract, closing date set, and your lender has gone quiet. That's the call where speed decides the outcome, and it's the one we're built for. See how fast we move before the deadline does the deciding.

Rate lock expiring and the extension fee just showed up. Appraisal came in low and the first lender's answer was a bigger down payment. A first-time buyer told there's no assistance for them. A self-employed buyer told the tax returns don't work. A veteran told VA takes too long. Each of those is a sentence we hear on the first call, and each one has a second opinion attached.

Who asks for one

First-time buyers who've never seen a Loan Estimate before. Repeat buyers who got a good deal last time and want to know if this one is. Investors comparing DSCR terms. Refinancers whose current lender quoted them without competing. Buyers from out of state who don't know Florida pricing. It's a free 15 minutes with a loan officer who's been reading these forms since 1998. The worst case is you sign what you already had, with a clear conscience.

Second opinion questions

Does a second opinion affect my credit score?

Reviewing your Loan Estimate doesn't touch your credit at all. If you decide you want an offer from us, we'd pull credit then, and the bureaus treat mortgage inquiries inside a short window as one event, so shopping doesn't ding you the way people fear.

What should I send?

Your Loan Estimate is ideal. A rate quote, a pre-approval letter or a fee worksheet works too. If all you have is a number someone said on the phone, send that and the lender's name and we'll start there.

What if my current offer is good?

Then we tell you it's good, and you sign it with a clear conscience. We'd rather be the lender you didn't need this time and call next time than the one who talked you into a worse loan.

I'm already under contract. Is there time to switch?

Often, yes. We've closed deals in as little as 4 days from first inquiry to clear to close, and most files run in-house through PRMG so the underwriter is down the hall. Timelines depend on your file and how fast documents come in, so nobody can promise a date on a phone call, but here's how fast we move when the clock is already running.

A second opinion is a review of an offer you already have. It isn't a loan approval, a rate quote or a commitment to lend, and any loan through 14 Days To Close is subject to credit approval and underwriting review. 14 Days To Close is a licensed mortgage broker (NMLS #75243), powered by PRMG.