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06-05-2009, 01:47 PM
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Member
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Join Date: Apr 2009
Location: Garden City, NY
36 posts, read 11,703 times
Reputation: 11
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Mortgage Recommendations
Hi All,
Just looking for some recommendations as to where to go to get a mortgage. I have one with Chase right now and plan on moving to a home in the next 2 months or so. The rates have jumped like crazy the past 2 weeks and so I'm not so sure with who to go with anymore.
Any help is appreciated
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06-05-2009, 01:51 PM
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Member
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Join Date: Jun 2009
Location: North Bellmore
43 posts, read 18,768 times
Reputation: 16
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Call Preferred Empire Mortgage Co. in Melville. Very good service.
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06-05-2009, 02:02 PM
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Senior Member
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Join Date: Oct 2008
113 posts, read 79,416 times
Reputation: 14
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Wells Fargo
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06-05-2009, 02:12 PM
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Senior Member
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Join Date: Mar 2009
118 posts, read 42,776 times
Reputation: 17
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I got a good deal from Bank of America last month
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06-05-2009, 02:46 PM
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"Sic transit glorious money"
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Join Date: Jul 2008
Location: NY
1,416 posts, read 848,982 times
Reputation: 365
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If you are already a Platinum Checking customer at Chase, you should be automatically entitled to a .25% reduction in whatever their current rate is.
Also ask your loan officer if by paying one point at closing you can drop that rate even lower. Chase often has promotional rates for existing customers.
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06-05-2009, 02:57 PM
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Senior Member
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Join Date: Aug 2008
269 posts, read 116,851 times
Reputation: 35
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Try bankrate.com to get a list of available companies along with their rates, fees, etc. Based on the location of property, amount of mortgage, and downpayment.
Best bet is usually to check with any financial institutions you are affiliated with to see if you can leverage any member discounts (credit unions, banks you have other accounts with). All else being equal, go with whoever has the best rate/fees and is able to work within the timeframe/location of your situation.
Chances are whoever you go with is going to end up selling your mortgage to another institution anyway, so it's pretty much irrelevant these days. Go with the best rates/fees. |
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06-05-2009, 03:53 PM
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Senior Member
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Join Date: Apr 2009
419 posts, read 148,829 times
Reputation: 20
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I used Bethpage Federal credit union. Their closing costs were reasonable, and rates were competitive. I expect Chase to offer better service though I have never tried any other bank for mortgages.
There is also a section in zillow.com for mortgages where you can input your loan amount and get responses from brokers. I found a couple of good brokers by that, but their terms were not as good as bethpage.
Teachers Credit union has phenomenal mortgage rates on its website. I wonder if there is a catch.
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06-09-2009, 09:15 AM
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Member
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Join Date: Apr 2009
Location: Garden City, NY
36 posts, read 11,703 times
Reputation: 11
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I believe the teachers credit union requires you to live in suffolk - i'm moving to Nassau so that's out!
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06-09-2009, 09:25 AM
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Senior Member
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Join Date: Apr 2009
419 posts, read 148,829 times
Reputation: 20
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For teacher's credit union, if you have friends/relatives in suffolk, could they recommend you?
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