did you use a broker or did you just go with a bank..fh and i are having such a hard time trying to figure out how much we can afford and we keep being told to use those calculators online..i just don't trust those things and i'm afraid we'll get in over our heads if we trust them..
Misha
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Re: mortgage broker
We used a good friend of ours who is a mortgage broker. He got us a great rate with Wells Fargo. And you are right, the numbers came out quite different than the calculators showed!
Karen H
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Re: mortgage broker
I'm not sure that the calculators take everything into account, ie: insurance and taxes. They may just give you the loan payment for the house, but the actual monthly payment will include money going into escrow to pay your homeowners insurance and real estate taxes.
When we met with our real estate agent they arranged for us to meet with a mortgage broker who pre-qualified us and gave us a maximum amount they would qualify for.
kdelace
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Re: mortgage broker
Ang&Rich
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Re: mortgage broker
We used a mortgage broker when we bought our co-op. We wanted a good interest rate considering that it was a co-op and the banks were offering high interest rates. FH's company mentioned a broker and they gave us a deal when we worked with them. It was a very simple process and the woman that helped is was awesome! I will use them again when we purchase a home. We got a very competitive rate.
D&J
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Re: mortgage broker
check out LendingTree.com
You punch in the info regarding the amount of your house, how much your putting down, etc..... and a bunch of mortgage brokers will send you back their offers & then you pick the one that fits your needs, and the one that has the best rates, etc....(its very simple!) It tells you how much your closing costs will be and breaks down all the info for you...
That's how we got our Mortgage to build our house..
