Best Morgate Rates (mortgage, credit, home equity loan)

[LRAM]

Hello Everyone,
I've a excellent credit/fico score (755+) and thankfully have enough savings to make a 20-30% downpayment. Could you please suggest some morgate company which may have best rates with less fees?

Also, I got quotes from few lenders, once I decide to buy, do lenders compete and match others rates and fee? are these negotiable?

Thanks for your time.

[beowulf7]

You'd be better off asking this in the Mortgages sub-forum.

[nsumner]

That is wonderful that you have great credit. The one thing you want to be careful about shopping for best rates is not to apply with several companies because every time your credit is pulled, your score will go down a few months.

Depending on the lender, they can compete against each other but that is usually if you are dealing with a broker not a bank.

Naima

[Guingirl]

In all of our research, we found the one with the lowest rates and (were a lot more on the up and up) was a credit union. You can generally join a local credit union for something like $25.00. They didn't try to throw something in at the end which is what I always watch out for in addition to everything else.

[loves2read]

just make sure you get a fixed rate mortgage--

[beowulf7]

Did you check out Web sites such as Compare Mortgage Rates | CD Rates | Home Equity Loans Mortgages Quotes Best Rate Calculator Bankrate.com?

[TimtheGuy]

Shopping for a mortgage and getting credit pulled a few times is not going to do anything to a borrower with 755 scores. The bureaus recognize that we are mortgage originators and will count all inquiries as one pull. It may not drop your score a single point.

Banks can often be just as or more competitive than brokers. I work in a community bank and we sell mortgages on the secondary market to the "big guys". I beat out brokers on a regular basis. Banks are much more regulated than brokers and it is much less likely you will run into a bait and switch deal as mentioned above.