U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 08-18-2013, 03:08 PM
160 posts, read 419,172 times
Reputation: 49


I'm a first time home buyer & I'm trying to qualify mortgage lenders from references. I'm getting #s like APR, Lender Fees, Closing Credits to understand which one would be best. What questions would you ask/suggest to understand whose a better lender?
Reply With Quote Quick reply to this message

Old 08-19-2013, 02:16 PM
3,322 posts, read 7,269,271 times
Reputation: 4106
I would suggest that you work with a lender who goes over every single aspect of your specific situation, and simplifies the complexities to the point that you are breathing easier and confident not just in the lender, but in the purchase as a smart move.

I refuse to move forward with a client until we have gone over every box on every page, and do not accept e-signed documents. Too much can slip through the cracks. Keep looking for a lender who will do this for you.
Reply With Quote Quick reply to this message
Old 08-21-2013, 11:23 AM
Location: Will County
179 posts, read 412,865 times
Reputation: 72
arun_junta: As a Lender myself, I understand your need to hear and gain the best info specific to your financial situation. But so much of the quality of the mortgage process you are entering will rely on the Lender themselves. Can they deliver what they promise? Get the specifics regarding the loan program, rate, costs, etc. that ALL Lenders are required to provide. Then do some homework regarding the performance of the Lenders you are comparing. Find real estate agents, real estate attorneys, past clients that have worked with them. Get their point of view on the transactions they have had in common with the Lenders. What is the reputation of the Lenders? What is their "batting average" for getting to the Closing table? How well did they communicate during the mortgage process? And don't forget to listen to your own instincts too. Who do you feel you will have the best working relationship with? What is your comfort level .. your trust level with the Lenders you are speaking with? That is tremendously important to the success you will find and how smoothly the process will go. Best of luck to you in your search ... and finding a successful conclusion to your transaction.
Reply With Quote Quick reply to this message
Old 08-21-2013, 04:10 PM
160 posts, read 419,172 times
Reputation: 49
Thanks for the perspective & information, Pfhtex & LivintheLive. Appreciate it.

Love your analog of "batting average".

How is chase as a lender & their mortgage program viewed?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top