2006-10-31 03:47:21 · 10 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Beware of affiliated real estate brokers and mortgage brokers, your best best is a independent mortgage broker, go to them only let them pull your credit once and compare. ask them critical questions,, regarding fees and most important ones about the yield spread premium, which ultimately effects your interest rate. This may or may not be disclosed on your HUD one statement, depending on the type of lender you are using. BUt if you ask under RESPA laws they have to tell you. But dont be afraid to ship around ask about conforming, alta-a and sub prime loans, loan to value (ltv) mortgage history and credit score determines which is the best for you! Good Luck
2006-10-31 04:05:36 · answer #1 · answered by loansbytheresa 1 · 0⤊ 1⤋
Send me an email at Craig@middlestead.com and I will give you a list of all the things to look for to get your best deal. As far as the realtor getting a referral bonus, that is illegal. A big key is your credit score and if you have the ability to buy points.
2006-10-31 04:01:29 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Hi,I would like to bring up an important point.Make sure the company you choose has it`s home office in the state you live.Reason is down the road if you want to remortgage ,you will have a lot easier time closing your account with them.If not they could drag out the transfer of paper work thus costing you more money.So make sure home office is in your state. Good Luck ROSCO
2006-10-31 04:09:27 · answer #3 · answered by rosco 6 · 0⤊ 1⤋
I would suggest going through a broker. He will do the shopping for you and you will only have you credit pulled once as opposed to a ton of different banks pulling you credit which adversley affects it. I work for a mortgage brokerage who has access to 120+ lenders. So feel free to give me a call with any question you may have or if i could help you out. My number is 1-800-766-5185 ext 4439. My name is Tim DiBell
2006-10-31 04:19:23 · answer #4 · answered by ttothej4343 1 · 0⤊ 2⤋
shop around. I am a realtor and I give a list of companies, but dont steer them. Research everything and asks tons of questions.
2006-10-31 20:10:14 · answer #5 · answered by MIABELLA_C 2 · 0⤊ 0⤋
shop around first because there is so many mortgage companys out there... for example: if you go with the first company that talks to you maybe 6months down the road you will see another company with a better offer and then you will say " i should of shoped around first..."
2006-10-31 03:52:28 · answer #6 · answered by uhmmm... 2 · 0⤊ 0⤋
Shop around!
If your Realtor recommended him its probably because he gets a profit of the loan, as a referral!
2006-10-31 03:51:52 · answer #7 · answered by Jen G 3 · 1⤊ 1⤋
Your best bet is a mortgage broker who can shop with multiple institutions. you are always better off exploring all your options.
2006-10-31 03:57:25 · answer #8 · answered by Nathan P 2 · 0⤊ 0⤋
Always get more than one quote. Check all of your options. Realators use who they are accustomed to working with. Not always good for the buyer. I would check http://www.quickenloans when your looking around. They have some good rates. I tell you this due to past experience.
2006-10-31 04:01:29 · answer #9 · answered by sasaknits 1 · 0⤊ 1⤋
most mortgage companies are within so close of a poercentage to each other, it doesnt matter sometimes, go with your instinct
2006-10-31 03:55:01 · answer #10 · answered by scottb03gt 4 · 0⤊ 0⤋