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09-22-2008, 06:25 PM
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Senior Member
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Join Date: Jun 2008
118 posts, read 89,616 times
Reputation: 30
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Valley national bank and Malvern federal savings bank
My broker is giving good rates with these banks. Is it a good idea to go through local banks for mortgages?
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09-22-2008, 06:32 PM
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L.U.S.T. Girl
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Join Date: Jan 2008
Location: Stewartsville, NJ
7,581 posts, read 5,241,157 times
Reputation: 898
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I think so... I've been using Valley national for years for auto loans. I have never had any issues with them.
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09-22-2008, 06:54 PM
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Senior Member
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Join Date: Aug 2006
2,406 posts, read 1,708,462 times
Reputation: 655
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Depends on the rates and fee's.
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09-22-2008, 07:05 PM
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Senior Member
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Join Date: Jun 2008
118 posts, read 89,616 times
Reputation: 30
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6.125
10% down
30 year conventional
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09-22-2008, 07:40 PM
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Senior Member
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Join Date: Aug 2006
2,406 posts, read 1,708,462 times
Reputation: 655
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Quote:
Originally Posted by skapur
6.125
10% down
30 year conventional
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10% down will add PMI.
If you can get 20% down Investors Savings 30 years at 6.00% convent. |
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09-22-2008, 07:45 PM
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Senior Member
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Join Date: Jun 2008
118 posts, read 89,616 times
Reputation: 30
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20% down is not possible at this time and my credit is not that great. 647 mid score.
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09-22-2008, 11:00 PM
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LETS GO YANKEES
Status:
"Those who mind don't matter. Those who matter don't mind."
(set 16 days ago)
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Join Date: Jul 2008
5,292 posts, read 3,084,625 times
Reputation: 859
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I've liked Valley in my dealings with them.
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03-13-2009, 11:35 AM
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Junior Member
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Join Date: Mar 2009
2 posts, read 3,698 times
Reputation: 15
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Valley national bank refinance
I've been quoted $499 closing costs and a 4.99% 15 year $150,000 Refinance. They want one point to lock in the rate which is refundable at closing. Any comments on this deal...rate and closing costs?
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03-13-2009, 11:42 AM
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Senior Member
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Join Date: Oct 2008
Location: Splitting time between Dayton, NJ and Needmore, PA
427 posts, read 219,873 times
Reputation: 131
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FWIW, I would prefer dealing with an established local bank. But I would also do research on their solvency. Both Valley National and Malvern have good reps among some of my tightwad friends. 
Another option, though a lot more difficult to get in with if you don't already have an account with one, would be a credit union or CU. |
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03-13-2009, 01:05 PM
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Senior Member
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Join Date: Feb 2009
Location: New Jersey
1,295 posts, read 577,442 times
Reputation: 191
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another thing to consider is seeing what the bank's history is with regard to selling their mortgages -- for example, I know people who got decent mortgages from Spencer Savings Bank, then their mortgages were sold & the new owner of the mortgage changed the provisions drastically...
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