Bought my current house 4 yrs ago, and will likely be purchasing again in the coming months. Last time I went through a family friend as my MLO, however I would like to be a little more price/rate conscious this time around, and am wondering where/how to find out who has the best rates out there. I've googled rates in my area, etc but wasn't sure if there's a better site out there.

Thanks

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Posted by hawkeye007

Member since Feb 2010

5842 posts

Posted on 1/25/18 at 2:16 pm to fillmoregandt

don't google rates that is super misleading. get 3 quotes and roll with the best one. local lender, online lender, recommendation from a friend.

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Posted by GFunk

Denham Springs

Member since Feb 2011

14966 posts

Posted on 1/25/18 at 4:22 pm to fillmoregandt

Find multiple mortgage brokers using your social network...interview all of them. Don't be afraid to ask for references from recent customers.

Don't be pressured by your MIL or your brother to use his recommendation. Family pressure ain't worth a 30-year screw job.

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Posted by fillmoregandt

OTM

Member since Nov 2009

14368 posts

Posted on 1/30/18 at 9:45 am to GFunk

Thanks/Bump

Hoping to start this process this week

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Posted by LSU1018

Baton Rouge

Member since Feb 2007

7215 posts

Posted on 1/30/18 at 12:09 pm to fillmoregandt

Hawkeye had a great response. I don't care how good of a friend you think you have sometimes, it's always good to do your own homework. If you like a loan officer but his fees are higher, give him an opportunity to match.

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Posted by baldona

Florida

Member since Feb 2016

20382 posts

Posted on 1/30/18 at 1:47 pm to fillmoregandt

Get your rough credit score and call 4-5 loan officers, and they should be able to give you a rate in about 5 minutes. If they bullshite you or something, just tell them thanks you'll find someone else.

I agree with the above, unless you don't plan on buying again for a long time its worth finding a good loan officer that will work with you even if its not the best rate.

I had one help me close on a property recently that wouldn't pass inspection and he did a ton of work and help for me that saved me money, and was worth a slightly higher rate. But if you have a very straightforward loan, good down payment, good credit, good employment history, and a standard house purchase then simply call and ask for a rate.

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