What are the differences between going to different lenders for a Mortgage refinancing?

Question

I am working with my original lender to refinance my house, but I'm curious as to what advantages I have of looking somewhere else. Can the rates be lower from one lender to another or does the market pretty much make it the same for all?

Answer 1

I agree with above answer.. You should find a good mortgage broker.

The mortgage broker must be affiliated to many lending institutions and should be licensed.
- The mortgage broker should be working at a reputable institution. The name of the company could be checked at the Best Business Bureau or the Chamber of Commerce.
- The mortgage broker should provide you with the names and contact numbers of people who can be contacted for credibility check.
- The mortgage broker should ask you what you want on your loan. He must ask you questions rather than on giving you lots of facts. He should prioritize what you need and should come up with ways to fit this with various deals available in the industry.
- The mortgage broker should have with him various lists of deals that he can offer. This is a good quality because if not, you might get the best deal.


Getting a good mortgage lead on internet
http://www.my-infoworld.com/mortgage/Mortgage_lead.html

Answer 2

I have used a broker for that, a broker has access to all the lenders and can find you the best deal. The interest rates don't differ too much between lenders, it is based more on your credit report, the lower your score, the more in interest you will pay, the higher your score, the better the rate is that is available to you.

Answer 3

the best party is to go to a mortgage broker as they shop for all the best deals around and will get you the best deal that you can qualify for. Your bank will give you the deal that makes them the most money and they are not acting in your best interest but their own. Is this in the wrong category...women's health?