shopping mortgages when closing costs are covered

Rule #1 - Screw your realtor. This is about you. Not them. They're trying to feed a profit partner for later down the road or get a kickback/bird dog fee.

Rule #2 - Ask each broker to put in writing what PAR pricing is on your loan package is.

IE-For a purchase where you're borrowing 90% of the home's value, with a 760 credit score in an owner occupied single family new construction, what is the rate where the lender makes no money on said interest rate.

That rate based on your specific criteria is considered PAR. The lender cannot sell you a PAR rate or they'd go out of business but you can buy it down.

Rule #3 - Ask them how much it costs to buy your rate down to Par. Then just have your company pay that as part of the closing costs for your loan.

I'm sleepy and leaving some parts of this stream of consciousness out but this will put you in a good decision or position no matter who you choose.

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Rule #1 - Screw your realtor. This is about you. Not them. They're trying to feed a profit partner for later down the road or get a kickback/bird dog fee. Rule #2 - Ask each broker to put in writing what PAR pricing is on your loan package is. IE-For a purchase where you're borrowing 90% of the home's value, with a 760 credit score in an owner occupied single family new construction, what is the rate where the lender makes no money on said interest rate. That rate based on your specific criteria is considered PAR. The lender cannot sell you a PAR rate or they'd go out of business but you can buy it down. Rule #3 - Ask them how much it costs to buy your rate down to Par. Then just have your company pay that as part of the closing costs for your loan. I'm sleepy and leaving some parts of this stream of consciousness out but this will put you in a good decision or position no matter who you choose.

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I agree with most of this, but there are advantages of using realtor recommendations in terms of making sure things get done based on the situation of the transaction. I know lenders who can get it done in 14 days if that's the game I have to play. If I need an appraisal for a local hot market, I know where to turn. The most important thing is getting client to closing. Do referrals happen in my business just like every other business in the history of business? Of course. Do I put my clients best interest ahead of that? Every single time.

Back to OP. I have never seen 15 lenders have the exact same rate on the same day, throughout the day, so I find that hard to believe. No two underwriters are the same. I'd go with who you feel gets best job done, tell them they need to go 1/8 lower than lowest rate you're quoted. I'm sure there's a cap company will pay for cc's, I'd do my best to know that number. Good luck