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How to find a best mortgage lenders, in terms of rate, fee and service?
Question : How to find a best mortgage lenders, in terms of rate, fee and service?
I am a first time home buyer. I am seeing lot of adv of mortgage lenders in bakerate.com. How do I know those companys are good in terms of rate, fee and service? Is there any review sites? Is there any advantage in getting mortgage loan through reputed banks like wells fargo, chase or bank of america? It seems their rates are higher than Credit Unions. Appreciate, experts answers.
mortgage lenders
Best answer:
Answer by Rick K
A good mortgage broker will contact at least 3 different lenders to get you the best rate possible find a local one with a good reputation and have them pre approve you make sure they are licensed and bonded good luck!
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#2 written by Jose R 1 year ago
Pay attention to closing costs, rate and APR.
A mortgage broker who tells you there are no closing costs is just pushing up your rate to cover their costs, or including the closing costs in the loan amount.
I have no problem with brokers making money, but we need to understand that they will make money, one way or another.
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A site that I like quite a bit to follow mortgage information is http://www.mortgage-x.com. They have terms, graphs and other usefull information.