2007-01-22 03:01:25 · 7 answers · asked by smokey 1 in Business & Finance ➔ Renting & Real Estate
The one that gives you the best rate, lowest fees, and best service. Other than that- mortgage loans are typically sold several times so the initial company you use makes very little difference.
2007-01-22 03:09:45 · answer #1 · answered by flamingojohn 4 · 1⤊ 0⤋
Whoever gives you service, honesty, information, education, and the best terms for your situation. If you get a Good Faith Estimate of Closing costs that only includes theirs, tell them to include the title company, recording fees, appraisal, etc. They can and they are suppose to provide them. They should provide this and a Truth-In-Lending Disclosure (APR, payments, total finance, etc) either at application or within 3 days of application. These are Federal Regulations. If any terms to the loan change, they must re-disclose these forms within 3 days.
The rest will depend on your financial situation, credit scores, debt to income ratios, and comfort level. Make sure you feel comfortable with the person doing your loan. DO NOT LET EVERYONE YOU TALK TO PULL YOUR CREDIT. This will ding your credit every time and if you are just shopping around for rates, you don't want that happening. Everyone will always give you their lowest 80% perfect credit rate on the phone. If you have an idea what your credit score is before you shop around that is always good because you have figures to give them.
"I'm purchasing a house for $XXX,XXX with XX% borrowed. I want a fixed rate loan and my credit score is around XXX. " With this they can give you a pretty good idea what the rate will be.
Good luck. If you don't feel comfortable about something - ASK!
2007-01-22 11:21:59 · answer #2 · answered by Margaret K 3 · 0⤊ 0⤋
Quicken Loans, Eloan, Choice Finance...
2007-01-22 12:33:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A local bank. I believe it's best to finance your house with a local bank -- try the bank you have the longest relationship with first -- but don't be afraid to shop around for the best rate. If you finance with a local company and have questions or issues you can drop in and meet with someone face to face.
Good Luck!
2007-01-22 11:10:42 · answer #4 · answered by thatgirl 6 · 0⤊ 1⤋
My husband is a loan officer for a great mortgage company called Home Funds Direct. If you would like to contact him or have him contact you just email me.
2007-01-22 11:18:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Not Wells Fargo. I think Chase has been the best to deal with.
2007-01-22 11:09:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I chose ROCK FINANACIAL. Because even after you close with them, they are still helping you out. If a better programs comes out, that will work better for you, and save you money, they will call you, and go over your options. My parents delt with Countrywide, and had a lot of problems
2007-01-22 11:11:02 · answer #7 · answered by Spoiled 3 · 0⤊ 1⤋