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Old 07-15-2008, 08:11 AM
 
485 posts, read 998,284 times
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Question Reliable Mortgage Companies??

If you were looking to get a new mortgage or refi what company would you choose?
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Old 07-15-2008, 08:42 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 11,415,478 times
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This would depend on your qualifications, and what type of product you're looking for.
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Old 07-15-2008, 11:07 AM
 
485 posts, read 998,284 times
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Are you serious? You mean to tell me that there is no "A list" companies out there that can provide their customers with a wide range of services and can be fairly flexible to their customers needs? Does anyone have any companies that they have dealt with and have felt them to be easy to deal with, flexible, and reliable?
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Old 07-15-2008, 11:28 AM
 
Location: Las Vegas, Centennial Hills
2,013 posts, read 4,469,274 times
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Quote:
Originally Posted by RTTNFAM View Post
Are you serious? You mean to tell me that there is no "A list" companies out there that can provide their customers with a wide range of services and can be fairly flexible to their customers needs? Does anyone have any companies that they have dealt with and have felt them to be easy to deal with, flexible, and reliable?
If you are looking for a wide range of products, services, and flexibility perhaps you should talk to a broker. Ask friends, family, and co-workers for referrals.
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Old 07-15-2008, 12:27 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 11,415,478 times
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No there isn't.

The best jumbo lenders do not offer the best conforming rates.
The best conforming lenders do not offer FHA loans.
The best FHA lenders may offer the worst conforming rates/jumbo rates.
Not all lenders do FHA, and not all lenders offer construction loans.
Only a few lenders offer subprime mortgages, and only a few go over 2million. Not all FHA lenders offer 'manual underwriting', and some dont go lower than a 660 FICO. Not all lenders are VA approved, and there are only a few lenders that offer 2nd mortgages.

Quote:
Originally Posted by RTTNFAM View Post
Are you serious? You mean to tell me that there is no "A list" companies out there that can provide their customers with a wide range of services and can be fairly flexible to their customers needs? Does anyone have any companies that they have dealt with and have felt them to be easy to deal with, flexible, and reliable?
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Old 07-15-2008, 01:13 PM
 
485 posts, read 998,284 times
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Quote:
Originally Posted by renriq02 View Post
No there isn't.

The best jumbo lenders do not offer the best conforming rates.
The best conforming lenders do not offer FHA loans.
The best FHA lenders may offer the worst conforming rates/jumbo rates.
Not all lenders do FHA, and not all lenders offer construction loans.
Only a few lenders offer subprime mortgages, and only a few go over 2million. Not all FHA lenders offer 'manual underwriting', and some dont go lower than a 660 FICO. Not all lenders are VA approved, and there are only a few lenders that offer 2nd mortgages.
OK...so if I were to say that I need a new loan on an existing structure and have over a 660 FICO and atleast a 10% downpayment if not more, who would you recommend? I am talking about getting the best possible rate (the my FICO will allow) PLUS a great company who can offer great customer service.
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Old 07-15-2008, 01:15 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 11,415,478 times
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Not all lenders lend in the same state
Will also need to know loan amount...



Quote:
Originally Posted by RTTNFAM View Post
OK...so if I were to say that I need a new loan on an existing structure and have over a 660 FICO and atleast a 10% downpayment if not more, who would you recommend? I am talking about getting the best possible rate (the my FICO will allow) PLUS a great company who can offer great customer service.
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Old 07-15-2008, 01:18 PM
 
485 posts, read 998,284 times
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I am giving a hypothetical... I am still looking for a home to purchase and still trying to sell mine.... But when I do buy I will not purchase anything over $115,000 and it is in Arkansas.
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Old 07-15-2008, 01:21 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 11,415,478 times
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I would try a local credit union. They may help with your low score, and may also offer 'lender paid PMI'. If you try a regular conventional loan, then you may pay high PMI figures.

Look for lenders that offer LPMI - lender paid PMI.
There are few lenders that offer these types of loans.

I'll look to see who lenders in AR that maybe able to help you out

Quote:
Originally Posted by RTTNFAM View Post
I am giving a hypothetical... I am still looking for a home to purchase and still trying to sell mine.... But when I do buy I will not purchase anything over $115,000 and it is in Arkansas.
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Old 07-15-2008, 01:23 PM
 
485 posts, read 998,284 times
Reputation: 184
Quote:
Originally Posted by renriq02 View Post
I would try a local credit union. They may help with your low score, and may also offer 'lender paid PMI'. If you try a regular conventional loan, then you may pay high PMI figures.

Look for lenders that offer LPMI - lender paid PMI.
There are few lenders that offer these types of loans.

I'll look to see who lenders in AR that maybe able to help you out

My low score? My FICO is 690, I wasn't aware that 690 was low?
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