mortgage brokers=i need your anwser-speak?

Question

do they get you the best rates or do are behind hidden sharks
is it better to go straight to a bank that may give you a ok? rate when you know your score is borderline?

I was told if u alreadyhave low scores brokers can send you to many banks which can lower your score when you were only going to be at a rate "you deserve"\or perhaps lower (because of the inquires) in the first place. while the broker makes money on the referral, um..................

Answer 1

It's an involved process. If you had bad credit sometimes a mortgage broker may be better than a traditional bank.

Answer 2

my father has been a mortgage broker for over 20 years and while it might be easier to go through the bank. you are more likely to get better service at a broker. A bank will not be willing to help you clean up your credit or go the extra mile for you. A lot of my friends have gone through banks when first purchasing their new homes. And once my father a mortgage broker started looking at their loans for possible re-finance, the majority of my friends got very bad rates. Banks do not feel the need to shop around for the best deal possible for the borrower.

the only way you can lower your score, i.e. make it worse, is by not paying bills on time, carrying too much debt load, and inquiries against your credit like applying for credit cards and having too many credit cards (only need like 3 - 5 for establishing good history).

Answer 3

Walk into any retail bank and apply for a home loan. Get an estimate and fax it over to me. I'll either slash the rate for you or reduce the closing costs. If you'd like to save the hassle you can just give me a call or e-mail me directly and I'll save you the hassle of going into a bank and wasting your time! You choose. It will be closed faster! You'll have better service, and you'll even enjoy talking with me! I can be so much fun! Try me Today! :)