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Old 01-15-2008, 08:04 AM
 
297 posts, read 1,004,947 times
Reputation: 167

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Could someone please tell me some good banks to check out for home mortgage loans? I tried Lending Tree, but a bunch of no-name places popped up.

And, what are the going rates these days for a 30-year fixed for someone with excellent credit?

Thanks.
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Old 01-15-2008, 12:32 PM
 
Location: Brentwood, TN
317 posts, read 1,135,488 times
Reputation: 145
Hi there. I have a few different contacts you could call to get quotes. I'll send them to you in a direct message. I know rates change daily and I'm no mortgage lender, but I think if you were to lock in today, you could see rates below 5.5% on a 30 yr fixed. Obviously, you'd have to verify that with them, and they would not be able to guarantee it would hold or drop from there over time. If you were looking at a jumbo loan it would probably be somewhere around 6.25%. I do know rates have been the lowest they have been in a couple of years.
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Old 01-15-2008, 04:39 PM
 
Location: Florida
2,327 posts, read 6,453,458 times
Reputation: 2304
Some of those "no name" places can offer rates as much as 0.25% to 0.5% lower than the banks. Most are brokers that scour the wholesale market to find the best program for your situation, and if you follow what I preach in the Mortgage sub-forum and negotiate the "broker" or "front end" fee down to 1% of the loan value or $2,000, whichever is less, and the back end "yield spread premium" to no less than half a point, you should get a heck of a deal, especially as low as the rates are this week.

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Last edited by mbmouse; 01-15-2008 at 04:58 PM..
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Old 01-15-2008, 05:11 PM
 
Location: Squirrel Hill
6 posts, read 22,068 times
Reputation: 11
Default Best Pittsburgh Mortgage Lender

Be careful when dealing with mortgage bankers in Pittsburgh. I've been burnt several times and have now realized that the best way to get a mortgage in Pittsburgh is to let two different banks compete for your loan.

That way, they'll both tell you what the other bank is doing wrong, and trust me, mortgage lenders pull out every trick in the book.

I've had bad experiences with:
First Vanguard
Urban Mortgage (the jerome bettis one)
S&T Bank

Good experiences with:
Chase in the Southside Works
PNC Bank

Again, make sure you use at least 2 mortgage lenders and let them compete for your mortgage. You'll definitely get the best rate possible and if you're a first time homebuyer, look into the different grants PA offers.

Type in "loan in pittsburgh for little money down" in google and you'll see different grants come up.
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