Just wondering where people got their last mortgage from. What company? Did you use an agent? Was it online? Thanks for answering!
2007-02-10 11:31:39 · 5 answers · asked by Triple Nipple 1 in Business & Finance ➔ Renting & Real Estate
Last mortgage was through Encore Credit Corporation. They sold it to someone else almost immediately though.
Prior to that was Fremont Investment & Loan. They also sold the loan to another lender after three months.
2007-02-10 11:38:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
My mortgage was from Countrywide Home Loans. I purchased a house from KB Homes in Loma Linda, California. They said that they would give me $24,000 in incentives, plus I would only have to put a $5,000 deposit if I go with their lender, KB Countrywide Home Loans.
They said if I went with my own lender, I would have to put down $10,000 and I would have no incentives at all.
But it turns out that with the $24,000 in incentives, it wasn't really an incentive because they charge so much in points (commission to the broker) on the loan that it almost used up the whole $24,000.
If I went with my own broker, I would have only been charged $4,860. But they were letting me get away with going into the property with no real money down so I chose KB Countrywide Home Loans as my lender.
2007-02-10 19:38:41 · answer #2 · answered by Alvin E 2 · 0⤊ 0⤋
I went to my long term financial institution, met with a representative and negotiated the rate myself. It helped tremendously that I had a long history with them, numerous past loans all paid in full before the end of the loan and also that I have large amounts invested in RRSPs, GICs and a money market savings account with them.
2007-02-10 19:51:37 · answer #3 · answered by patti duke 7 · 0⤊ 0⤋
My brokerage, Schwab has a mortgage program.
Most major financial institutions have one , and yours will do a pre-qualification letter for you for free.
That way you know what your debt to income status is and what is the maximum you are eligible to borrow.
But ask several lenders for the letter because they have different % rates, and Internet shopping is good because it fast tracks you to your lower rates. Try bankrate.com
http://www.bankrate.com/nscre/rate/brm_mtgsearch.asp
And stick with fixed rates, ARMs are the fast track to bankruptcy
2007-02-10 19:47:47 · answer #4 · answered by kate 7 · 0⤊ 0⤋
I didnt get a mortgage because I am really rich.
2007-02-12 22:09:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋