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Mortgage Question
Posted on 2/16/15 at 2:42 pm
Posted on 2/16/15 at 2:42 pm
My wife and I are currently looking for a new home. We just recently sold our first house before we were able to find a new spot.
In any event, I am working with a mortgage broker in order to find a loan at the best interest rates. However, I'm also planning on shopping him out.
My question is does it make sense to get another mortgage broker (GMFS, NOLA Lending, etc.) to do the same exact thing he is doing or should I speak to someone at a bank (such as Capital One or Neighbors)?
Thanks in advance for the help!
In any event, I am working with a mortgage broker in order to find a loan at the best interest rates. However, I'm also planning on shopping him out.
My question is does it make sense to get another mortgage broker (GMFS, NOLA Lending, etc.) to do the same exact thing he is doing or should I speak to someone at a bank (such as Capital One or Neighbors)?
Thanks in advance for the help!
This post was edited on 2/16/15 at 2:43 pm
1
Posted on 2/16/15 at 3:25 pm to Gugich22
I'm a broker here in BR, gmfs is one of my lenders but on the wholeside side, the gmfs side branches are retail, just like nola, they can still charge you origination/points, processing, application and even a credit report fee. I see it all the time when buyer send me their fee sheets.
a good loan officer can quote you a rate without pulling your credit, all we need to know is your middle credit score and how much you plan to put down, your credit score will determine your rate and loan program. what kind of down payment are you putting down. only time we lose to the bank is when one is loyal to them.
when comparing fee sheets don't look at what total closing will be because we don't know what your taxes, homeowners premium and title fees will be. only item to compare is the rate and if they are charging you junk fees.
hope this helps
a good loan officer can quote you a rate without pulling your credit, all we need to know is your middle credit score and how much you plan to put down, your credit score will determine your rate and loan program. what kind of down payment are you putting down. only time we lose to the bank is when one is loyal to them.
when comparing fee sheets don't look at what total closing will be because we don't know what your taxes, homeowners premium and title fees will be. only item to compare is the rate and if they are charging you junk fees.
hope this helps
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