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I like to use Washington Mutual and Taylor Bean and Whitaker. Both companies are good at underwriting, use common sense and have a good turn around time. Great rates too!
WaMu?? I just looked up their info for TN loans, Did you see those closing costs?? I thought to myself, "they are Criminals", lol.I did have a heloc with them though. I closed it within 2 years and they charged me $2,200.00
Tampa, FL
Wells Fargo
5.25 - 0 points - closing costs extra ($11,000 approx in my case- but builder will cover upto 10,000 in closing costs - their mortgage company is a 'sub' of Wells Fargo)
I just got this mortgage and my home is new construction also.
Quote:
Originally Posted by sierraAZ
Really?! Wonder when they started doing that... because I was personally interested. Could it possibly be state-specific? Can anybody else confirm this?
I'm sure their rates are in line with Wells Fargo (we can add builders' lenders here), but certainly not with other lenders.
However it has nothing to do with the actual bank and more to do with the loan officer that handles all my referrals.
I agree with this. There is a difference, however, between banks that will only lend their own money and hybrid banks, ones that have extensive correspondent lender and broker channels. There are niche private banks that most people have no clue about and would be ill served if they try to get some loans at a Citi or a Wells.
I have had great dealings with Wachovia. However it has nothing to do with the actual bank and more to do with the loan officer that handles all my referrals.
All banks have just about all the same programs, and pretty similar underwriting and pricing efficiencies. The only real variable is the person actually handling the transaction with you, Not all loan officers or brokers for that matter are created equal, some know of programs and ways to get approved and for better rates than others, and some are more persistent when problems may arise than others.
Greg nailed it!
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Can anybody else confirm this?
