How many times mortgage companies should I apply to AND won't a realtor only show me their own houses?

Question

How many places should I go to to apply for mortgages? Won't applying at different places affect my credit? How do I know if it is a good deal?

Also, if I enlist the help of a Realtor to help me buy a house, won't they only try to sell me their own houses so they get a comission? What if I find a house for sale by a different realty company?

I wanted to add this. How do I find a good mortage broker? Everyone I ask always has a friend who does this but how do I know that friend is any good? I guess I could go through HUD to get a list but just because they play by the rules does that mean they're any good?

Answer 1

I would suggest using up to 3 mortgage brokers when shopping for a mortgage. When they provide you with options and pricing you will be able to compare them to what the other brokers are trying to provide you with and decide which is the best deal. How will you know it's a good deal? There are a lot of different variables, fees on the GFE, rates, terms, program options; all need to be reviewed and taken into consideration. Applying at multiple mortgage companies will not hurt your credit scores as long as they are done within 30 days of each other. The credit bureau's know people need and want to shop around for a mortgage that fits their needs and take that into account when inquiries come in. If you know your credit scores before hand, and you see them drop significantly you may request that they adjust your report to reflect the reason was because you were shopping for a mortgage, but I have found this is rarely needed.

I would try and find a person who is STRICTLY a buyers agent, they don't maintain their own listings, so their won't be any worries about them showing only their own properties. A realtor who is not specifically a buyers agent will show other agent's listings, once you've seen all their own because they will still make a commission.

I think that answered all your questions, good luck, I would be honored to assist you moving forward.

Answer 2

Each mortgage company you apply to will show up on your credit report which is not good and will negatively affect your credit. So just find one with a good mortgage and apply there.

and a decent Realtor will show you any house because the selling agent and the buyer's agent both get a cut (3-4% or the sale price) so they will make money either way.

Answer 3

I work for United Lenders Group and I work with over 45 different banking companies so I could get you a mortgage loan no matter what your credit is like and you wont have to apply at so many different places because i will do that for you.
916-860-0804
keyon

Answer 4

They get a commission no matter who's house they sell you, it's just a *bigger* one if they sell you their own listings. I think that's unethical of a buyers agent to do anyway (only show you their own listings).

Applying at more than one mortgage company doesn't hurt your credit, because they will all be checking your credit report at the same time period. This is taken into consideration when your credit score is calculated.

Answer 5

toll free 1-877-242-2717 ask for Joe for free advice from a lisenced loan originator

Answer 6

I can help, I am a lic. mortgage broker. What state you in? [e-mail]

Answer 7

this isn't criminal!! call your state's banking branch and locate out what are your rights and your ideas. also, you are able to rfile them to the more effective constructive business organization bureau! in case your made the utmost furnish then the domicile could rightfully be yours.

Answer 8

read tips and articles on real estate and mortgages that will help you on this site