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Message
Where to shop for Mortgage rate? Online?
Posted on 11/5/13 at 10:46 am
Posted on 11/5/13 at 10:46 am
I'm probably about to sell my house and purchase a family members house. I'm currently with Bank if America, but when I google search mortgage rates I come up with a lot of companies I've never heard of and a wide range of rates and fees. Any places a must go or must stay away from?
The house I want to purchase is appraised at 255,000 but can buy for 225,000. I just purchased a vehicle and have tier I credit score.
Thanks in advance.
The house I want to purchase is appraised at 255,000 but can buy for 225,000. I just purchased a vehicle and have tier I credit score.
Thanks in advance.
4
Posted on 11/5/13 at 10:53 am to TigerFanatic1
Call your local bank. Their rate might be higher than what you find online, but the APR is usually the same or lower.
If you have 20% down, call a credit union. They will blow banks out of the water, but you usually have to have the 20% to get those rates.
If you have 20% down, call a credit union. They will blow banks out of the water, but you usually have to have the 20% to get those rates.
Posted on 11/5/13 at 11:20 am to anc
20 % down or just 20% equity?
Posted on 11/5/13 at 11:25 am to TigerFanatic1
Not 100% sure. Might be worth a call to find out though. Their rates are usually incredible and they barely have any closing costs. They just don't deal with FHA/VA or other low down payment loans.
Posted on 11/5/13 at 12:32 pm to TigerFanatic1
make your life easy go see a local bank. online might be good for refinances but for purchasing try a local bank. if your in monroe contact standard mortgage
Posted on 11/5/13 at 12:48 pm to hawkeye007
quote:
make your life easy go see a local bank. online might be good for refinances but for purchasing try a local bank. if your in monroe contact standard mortgage
Hawkeye knows of what he speaks. Listen to him.
I started off my purchase mortgage (Rural Development Loan) with Amerisave online and that was a nightmare. It only took me 3 days before I decided to go with a local company, SWBC.
Posted on 11/5/13 at 2:22 pm to TigerFanatic1
Posted on 11/5/13 at 2:44 pm to William Stephenson
Posted on 11/5/13 at 4:31 pm to hawkeye007
quote:
make your life easy go see a local bank. online might be good for refinances but for purchasing try a local bank.
Spot on advice
Posted on 11/5/13 at 6:05 pm to hawkeye007
Thanks hawk. I will check them out. I will be buying outside of Monroe, but close enough to deal. Thanks.
Posted on 11/5/13 at 10:09 pm to TigerFanatic1
If you are in baton Rouge, I would call Iberia bank, SWBC and assurance for quotes. All their fees are negotiable.
Posted on 11/6/13 at 7:02 am to TigerFanatic1
Zillow. Compare mortgage rates. I used New Penn Financial. Easy pleasey.
Cheaper than local or a bank.
Cheaper than local or a bank.
Posted on 11/7/13 at 5:21 am to Will Cover
Thanks for all the answers and advice.
Posted on 11/7/13 at 8:25 am to TigerFanatic1
We are in the process of refi on our construction loan. A couple of guys at work told me about Aimloan.com
So far the process has gone pretty smooth.Just scan the needed documents and email them as they ask for them. At closing they come to me and we sign at home.Closing costs are lower than a bank or CU from what I was quoted.
So far the process has gone pretty smooth.Just scan the needed documents and email them as they ask for them. At closing they come to me and we sign at home.Closing costs are lower than a bank or CU from what I was quoted.
Posted on 11/7/13 at 8:37 am to LSU1018
quote:
If you are in baton Rouge, I would call Iberia bank
+1
Posted on 11/8/13 at 9:41 am to wickowick
I'm attempting to refi right now and the loan officer is insisting on going FHA and I'm not sure thats the best option. I have <80% LTV and FHA still requires PMI for the life of the loan. One strike against me though is that I accidently screwed up and got a 30 day late on my mortgage in January. I'm thinking it may be best to wait until that falls 12 months back and then attempting to refi, but I don't want to take a chance on the rates going back up.
Posted on 11/8/13 at 11:08 am to supadave3
do not go FHA.. the loan officer may not be able to get a conventional approval with the late pay in the last 30days. just wait unitl jan. when it falls off..btw whats your credit scores? you will need 680+ for conventional to work in your favor..also remember this little secret if your working with a broker they get paid double on FHA loans then they do conventional loans.
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