Mortgage via Employee Discounts (loans, scores, fees, rate)

[BK2Westchester]

I just found out my employer- i'll put it out there- LandAmerica- has several lenders under the employee discounts program.

I see Bank of America with no closing fees*, wachovia, etc... with similar offerings to us worker bees at LandAmerica.

Are these offers they way to go if you can get it? It seems the only way I can tell is by actually going out and trying to get every freakin fee and direct lender/broker will hit me with as opposed to the offers thru the employer?

it's like rolling dice out here!

[renriq02]

I worked for Bofa...and that's where I took my mortgage out.
Rates were higher....and they didnt charge any fees.
I received a 5.875% when I could've received 5.375% or less.

I later find out that it would've been worth it to pay the fees to have a lower rate. (fees weren't going to be that much)

No closing fees is fine...but look at the rate!

Today's par rate is 5.5%....

Your question will always depend on your score...down payment...loan amount...etc.
BofA/Wachovia may not do loans for low scores....or may not use ALT-A products.

Originally Posted by BK2Westchester

I just found out my employer- i'll put it out there- LandAmerica- has several lenders under the employee discounts program.

I see Bank of America with no closing fees*, wachovia, etc... with similar offerings to us worker bees at LandAmerica.

Are these offers they way to go if you can get it? It seems the only way I can tell is by actually going out and trying to get every freakin fee and direct lender/broker will hit me with as opposed to the offers thru the employer?

it's like rolling dice out here!