Mortgage lender recommendation (Raritan: refinance, loans, house)

[jlsebastian]

We are planning to buy a house in 400 - 450K range, we worked hard in order save 20% downpayment. I would appreciate some advice on which mortgage lender to choose. I got pre-qualification from BOA, I know it means nothing but I wonder where I should look for mortgage pre-approval.*
I am just concerned that I will get a low rate but experience some poor customer service, bait-and-switch gimmick, unreasonable fees.

[tpajewski]

I would call around to everyone I could. Talk to them and see what they say and how they say it. Just like an interview. Find out if there are points and if so how many, destintion fees, orgination fees, etc. They might say no points but have these fees associated with them. Most companies will allow you lock your rate for a period of time and it can only change in your favor during that time.

[Lusitan]

What area are you looking in? Sometimes there may be advantages with working with a local lender or broker.

In terms of just throwing out a national lender's name, you could do worse than PenFed (www.penfed.org)

[SweepTheLeg]

Originally Posted by Lusitan

What area are you looking in? Sometimes there may be advantages with working with a local lender or broker.

In terms of just throwing out a national lender's name, you could do worse than PenFed (www.penfed.org)

I don't understand. Are you saying PenFed is bad? I've heard a lot of good things online about PenFed.

[jlsebastian]

I am currently looking at Bergen County.
I also heard good things about PenFed in terms of customer service, can you please elaborate, I was thinking of PenFed as one of my options.

[Lusitan]

Sorry, bad choice of language. I like Pen Fed.

"You could do worse than Pen Fed" ... as in ... "there are lots of lenders out there that are worse than Pen Fed" ... as in "Pen Fed is a relatively good choice"

[PD517]

Check into Penfed as stated, they are great to work with, even if you are not military, there are other ways to join as stated on their sign up page.

My ideal picks as of right now are the following:

https://www.penfed.org/productsAndRa...gageCenter.asp

https://www.wellsfargo.com/mortgage/rates

Compare Mortgage Rates Wachovia Mortgage and Refinance Rates

Capital First Home Loans: Today's Mortgage Rates (http://www.wearelower.com/purchaseahome/MortgageRates.aspx - broken link)

[jlsebastian]

*Very helpful, I bookmarked your links, Tnx.

Penfed and Capital First Home Loans, Inc. looks attractive.*

[JamesBoyer]

Call, Bob Scarzella, he is excellent, no pressure, no bait and switch.

Robert Scarzella
Home Loan Consultant
Circle of Excellence 2004-2007
Countrywide Home Loans
138 Orlando Drive
Raritan, NJ 08869
908-252-3958 Office
908-303-7714 Cell
908-707-9445 Fax
Robert_Scarzella@countrywide.com

[joe moving]

I think you should try checking out Loan Search. I have used them 2X. They are a NJ based no fee broker.