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Old 05-20-2007, 09:21 AM
 
14 posts, read 53,266 times
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Any opinions on this? I'm looking to get into a home (Avery area) in a couple of months and was wondering if anyone has any input on shopping for mortgages from these "bank rate search" companies?
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Old 05-20-2007, 01:40 PM
 
Location: Maple Valley, WA
980 posts, read 3,007,911 times
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I don't know much about Internet lenders, but I haven't heard good things. Post this question in 'Real Estate Professionals' or 'Business and Finance' and see if someone can answer your question. Otherwise, ask your real estate agent - I'm sure they would have some advice in that regard. Good luck!
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Old 05-20-2007, 03:13 PM
 
6,374 posts, read 11,525,841 times
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Quote:
Originally Posted by austin_c0wboy View Post
Any opinions on this? I'm looking to get into a home (Avery area) in a couple of months and was wondering if anyone has any input on shopping for mortgages from these "bank rate search" companies?
I used one that I found on bankrate and it worked out just fine. The advertiser was just a local mortgage broker and the lender ended up being just a typical national lender.

On another house I used a different mortgage broker and I showed the rate from bankrate.com and they found a product that matched the terms.

I have gotten mortgages on 4 properties and a refinance on one of them.
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Old 05-20-2007, 03:42 PM
 
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Note from Moderator: This thread was moved from the Austin, Texas, forum.
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Old 05-21-2007, 08:41 AM
 
Location: Dallas(Lake Highlands)
126 posts, read 413,446 times
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Be sure to read the fine print. I thought about going that route until I noticed in the fine print on the lender's website that a huge commission would be rolled into the mortgage.
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Old 05-21-2007, 09:35 AM
 
4,791 posts, read 11,967,913 times
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Forget the online mortgage and go find a trustworthy, reputable local loan officer that you can meet face to face. Don't know any...ask around. Don't understand mortgage documents/mortgage lingo...go with/review the material with someone who does.

If it sounds too good to be true or better than everyone else is offering...RUN.

Whatever quote you get (rate & costs) try to negotiate the costs a little bit. There is usually a little bit of "cushion" in there.
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