Is it more advantageous to get a home loan through a bank or a morgage company?

Question

Which one is easier to get, more money, interest rates?

Answer 1

Take a look at www.bankrate.com where they will have a good number of mortgage rates specific to your area. I personally think a site like that, or a mortgage broker, is your best way to go. In my experience (and you will probably see the same thing on bankrate), is that the bank mortgage rates do tend on average to be higher.

Answer 2

I went through a mortage bank--not a mortgage broker, a bank. A mortgage bank is different than most other bank loans in that they are lending their own money, not federally guaranteed money. The difference is that a mortgage bank can have their own margins and make their own decisions so they might give you a loan when you don't fit the margins that the other banks use, like the Fannie Mae margins. I was happy with the mortgage bank and I got a fixed rate loan with good terms. I was self employed at the time so no income but a 20% downpayment. If your situation isn't standard a mortgage bank is probably the way to go.

Answer 3

A banks expenditures would be lots greater then a morgage co. save around with all of the Morgage Companys and discover the ultimate value with your ''earnings to debt ratio'' and credit.seek for a fastened 30 twelve months. morgage at approximately 5.5% and no greater then 6.5%, they are accessible, you in simple terms have been given to do your homework.

Answer 4

I was just talking about this with my coworker last night. He said that it's better to go through a big mortgage company because little banks can't give you a good interest rate because they typically end up selling your loan to someone else after.

Answer 5

Sometimes you have more flexibility through a mortgage banc. I suggest Hometown Banc Corp. They may be your best opportunity for someone to say yes. If your credit does not measure up, they don’t simply “forget to call you back.” They help you get into a credit repair program you can afford regardless of income. Check out the free evaluation form at the source website and a Hometown loan officer will contact you .

Answer 6

Blake go to www.realestateinsiders.com , you can get the phone number from the site. They will tell what kind of mortgage to get and where you can get. it....this is an honest place..and they don't charge you ..if you want them to take the mortgage then that's their pay....this is for real, no bull. This is a big decision for you and you don't want to make a big mistake some shark might get you into...Jerry

Answer 7

no matter if the mortgage company is big, huge or small, they have way more options than a bank.....

shot me an e-mail, I work w/ 200 lending institutions...

[e-mail]

Answer 8

my cousin went to H&R Block and it worked fine for her.