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We are looking to put a bid on house we really like. Sofar we have a pre-approval letter from Chase for a 30 year loan at 6.75%
Agents are recommending talking to loan-brokers.
Are there large differences in interest from different lenders or do they all offer pretty much the same? I read some brokers offer lower rates, but make up for the difference in other areas.
thanks for the input
cheers
We are looking to put a bid on house we really like. Sofar we have a pre-approval letter from Chase for a 30 year loan at 6.75%
Agents are recommending talking to loan-brokers.
Are there large differences in interest from different lenders or do they all offer pretty much the same? I read some brokers offer lower rates, but make up for the difference in other areas.
thanks for the input
cheers
****rywide Home Loans and I was happy with them until the past year when they locked up everyone's HELOCs!
Plenty of mortgage lenders out there, call as many as you can and ask for a quote from all of them, once you get that, select the one's that you like the best and make them bid for your business. That's what I did and got mine for 5.4%
Oh and make sure you ask for a "Good Faith" estimate! This will show you ALL the hidden costs associated with the loan. If they refuse..move on to the next guy/gal.
We used Countrywide and secured our fixed 30 year at 6%
Notice the missing O from my post! I've been with them for over 8 yrs..two different homes and they locked up our HELOC! I only owe 300K on a 550K home. Our HELOC was for 89K and we only owe 14K left on that loan... we send them over 2K/month on the HELOC..never once late. They're in trouble so Just watch your back with them!
If you can put down at least 20% and have good credit I would try Hudson City Savings Bank. We locked a jumbo at 6% a few months ago with them. Mortgage rates have gone up but my friend still got 6% from them last month for a conventional mortgage.
I used Arlington Capital. They were some of the nicest people we ever met, and there were absolutely NO surprises at closing. We knew exactly what we were going to have to pay. The borrowing process itself was by far the most stress free part of our entire homebuying experience.
Pretty much the same rates. The difference is the loan pricing and any points you pay. Plus the teaser adjustables which I imagine have pretty much gone away except for those like me with near perfect credit. I got a 5.75% fixed rate about a year ago, rates have gone up since then. I try to stay with lenders that do not sell their loan servicing to another bank or lender so you pay the same company. That's becoming more rare today however.
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