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Posted on 1/6/12 at 2:04 pm to vettegc
Go with someone local if you can. The real estate laws in Louisiana are very unique. You want someone that is experienced there. I am in Texas and can do loans in La., but don't.
Oh,stay away from the big banks (BofA, Wells, Citi, Chase).
Best suggestion - ASK YOUR REALTOR.
Oh,stay away from the big banks (BofA, Wells, Citi, Chase).
Best suggestion - ASK YOUR REALTOR.
Posted on 1/6/12 at 9:34 pm to blacykaty
Thanks,
I have checked with 2 lenders to get preapproved. Am I gonna get dinged if I try more? Are the rates gonna be pretty much the same?
I have checked with 2 lenders to get preapproved. Am I gonna get dinged if I try more? Are the rates gonna be pretty much the same?
Posted on 1/7/12 at 10:07 pm to vettegc
post the rates here they are giving you, you will get a couple of people tell you how they stack up.
15 yr 30 yr? score?
15 yr 30 yr? score?
Posted on 1/7/12 at 10:10 pm to blacykaty
quote:
The real estate laws in Louisiana are very unique.
what laws are you talking about that relate to mortgage lending? i have been lending in LA since 2001 as well as multiple other states. the only thing different i can think of is the community property laws requiring the counting of non purchasing spouse's debts into the borrower's dti on certain loans.
This post was edited on 1/7/12 at 11:17 pm
Posted on 1/8/12 at 12:10 am to novabill
quote:
post the rates here they are giving you, you will get a couple of people tell you how they stack up.
One of my credit scores was only like 684.
4.25 and 4.375 for 30 years but i could buy a point or something and do 4.00?
Posted on 1/8/12 at 9:43 am to blacykaty
quote:
Best suggestion - ASK YOUR REALTOR.
Why? So the loan originator will have to bump their fees to cover the referral fee they are doing to have to pay to the realtor for the lead?
Posted on 1/8/12 at 10:36 am to MikeBRLA
quote:
Why? So the loan originator will have to bump their fees to cover the referral fee they are doing to have to pay to the realtor for the lead?
Does this ever happen, maybe. But I have never seen it and would not work with a realtor that asked me to break federal law and give them a referral fee.
However, when you do use your realtor's lender, the lender's loyalty will be to the realtor not you. They will be working to maintain that relationship.
Posted on 1/8/12 at 10:40 am to vettegc
quote:
One of my credit scores was only like 684.
4.25 and 4.375 for 30 years but i could buy a point or something and do 4.00?
How much are you putting down? If putting down 20% that is a pretty good rate, however if you are going to go FHA and put down 3.5% then you need to keep shopping. 4% or lower on FHA.
There is also the zero down option with an Rural Development loan and those rates are also at 4% or lower.
Posted on 1/8/12 at 2:22 pm to novabill
quote:
How much are you putting down? If putting down 20% that is a pretty good rate, however if you are going to go FHA and put down 3.5% then you need to keep shopping. 4% or lower on FHA.
The quote was for 10% down.
Posted on 1/8/12 at 3:48 pm to vettegc
quote:
The quote was for 10% down.
You may do better going FHA, get them to quote on a FHA loan. Both loans would have Mortgage Insurance and that would need to be compared, but the rate on a FHA would be 4% with a lender credit.
Posted on 1/8/12 at 6:04 pm to vettegc
I will be financing a purchase really soon for 3.5% through the VA.
So, if you're a veteran I'd look into a VA loan.
So, if you're a veteran I'd look into a VA loan.
Posted on 1/8/12 at 11:17 pm to deuceiswild
VA is the best program available.
Posted on 1/9/12 at 1:11 am to novabill
Thanks but I'm not a veteran.
Posted on 1/9/12 at 6:03 am to vettegc
WF treated me right- Iberia had a lot of fees
Stay away from Chase, B of A , Cap One
Check out your credit union if you have one
Check Sunday's paper for lowest mtg rates
but if you have a score under 700 you may have some work to do
Financing is a whole new ball game after the housing collapse
Stay away from Chase, B of A , Cap One
Check out your credit union if you have one
Check Sunday's paper for lowest mtg rates
but if you have a score under 700 you may have some work to do
Financing is a whole new ball game after the housing collapse
Posted on 1/9/12 at 10:16 am to 756
Just signed a contract for my 1st home in The Woodlands yesterday. I'm doing a FHA loan @ 3.65%
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