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Old 12-20-2008, 06:58 PM
 
94 posts, read 308,299 times
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Hello everyone. I am looking for a recommendation for a mortgage broker for a refinance. I am in the greater charlotte area. Thanks.
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Old 12-20-2008, 07:05 PM
 
Location: Charlotte, NC
7,041 posts, read 13,834,295 times
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PLEASE do not use a mortgage broker. Go directly to the bank of your choice! You will save yourself a ton of money!
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Old 12-20-2008, 08:36 PM
 
7,126 posts, read 10,569,669 times
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Quote:
Originally Posted by chicagocubs View Post
PLEASE do not use a mortgage broker. Go directly to the bank of your choice! You will save yourself a ton of money!
And, for sure you will hear from mortgage brokers that they get a special rate, bla bla bla that you as a consumer will not get.....don't believe it unless you walk into a bank together and the loan originator offers one rate to you and a quarter or half point rate lower to the broker.
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Old 12-20-2008, 09:06 PM
 
50 posts, read 117,355 times
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Jenny Stoner and Kim Venable at SunTrust just did my refi. Fabulous rate and top notch service!
SunTrust Mortgage, Inc. - The Stoner Venable Team
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Old 12-21-2008, 07:38 AM
 
Location: South Charlotte
1,435 posts, read 5,442,235 times
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Quote:
Originally Posted by chicagocubs View Post
PLEASE do not use a mortgage broker. Go directly to the bank of your choice! You will save yourself a ton of money!

I have never once seen a bank beat a mortgage broker's deal, not once.

Where are the savings you speak of? I've never seen them and noticed you have posted this advice a couple of times.

Just wondering.
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Old 12-21-2008, 07:40 AM
 
Location: South Charlotte
1,435 posts, read 5,442,235 times
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Originally Posted by johne482 View Post
And, for sure you will hear from mortgage brokers that they get a special rate, bla bla bla that you as a consumer will not get.....don't believe it unless you walk into a bank together and the loan originator offers one rate to you and a quarter or half point rate lower to the broker.


They do, and are called wholesale rates. The broker my clients use beats banks rates and closing costs out all day long everyday. And not by just a little. I've seen 1% at times.
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Old 12-21-2008, 09:07 AM
 
7,126 posts, read 10,569,669 times
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Originally Posted by Charlottean View Post
They do, and are called wholesale rates. The broker my clients use beats banks rates and closing costs out all day long everyday. And not by just a little. I've seen 1% at times.
OK..let's get down to business on this issue. I am buying in Feb 2009 a 7 unit complex in Concord. I have already spoken to my bank (BOA) regarding the transaction and I have some prelim. numbers.Needless to say, I cannot post personal information like this on a public forum board but if any MB would like to contact me by DM I will expand on the details with a qualified and accredited firm and obtain a rate.

I promise that I will report the results after I close on the property.

je
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Old 12-21-2008, 10:12 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,837,215 times
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Bad advice is to tell a borrower only to shop banks or to only shop brokers.

Good advice is to tell a borrower to shop BOTH.
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Old 12-21-2008, 10:13 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,837,215 times
Reputation: 1008
Is this a commercial multifamily?
I thought BofA only did Residential multifamily

Quote:
Originally Posted by johne482 View Post
OK..let's get down to business on this issue. I am buying in Feb 2009 a 7 unit complex in Concord. I have already spoken to my bank (BOA) regarding the transaction and I have some prelim. numbers.Needless to say, I cannot post personal information like this on a public forum board but if any MB would like to contact me by DM I will expand on the details with a qualified and accredited firm and obtain a rate.

I promise that I will report the results after I close on the property.

je
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Old 12-21-2008, 03:43 PM
 
94 posts, read 308,299 times
Reputation: 45
Quote:
Originally Posted by deecon View Post
Jenny Stoner and Kim Venable at SunTrust just did my refi. Fabulous rate and top notch service!
SunTrust Mortgage, Inc. - The Stoner Venable Team
Thank you. I will check them out.
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