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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.
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.
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.
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.
For teacher's credit union, if you have friends/relatives in suffolk, could they recommend you?
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