Preferably on Long Island, Suffolk if at all possible.
Should this be our first step before we even start looking at houses? I need someone to help us see how much we can afford based on our salaries.
TIA
Meaghan729
Posted:
Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
I wouldnt recommend going to a broker at all - do you belong to a credit union (like bethpage or someting?) they ususally have the best rates and fannie mae programs that you dont have to put 20% down.
snowprincess805
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Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
i just talked to a broker yesterday for the first time- i did the online form through my bank for pre-approval first - my abnk offers some good deal on saving some closing costs going with them
the broker is helpful to talk to - i learned a lot about loans such as over $417,000 - is considered a jumbo loan - will get a higer interest rate also about splitting loans to not have to pay PMI if we do not put 20% down
i think it is worth finding one- someone posted on the home board that they had one
good to talk to a few different people- banks, and brokers
eta - my broker is in MA so i am sorry i cannot help you
KellyBride
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Re: NWR - Anyone recommend a good Mortgage Broker?
Thanks!
Blu-ize
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Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
I would use a banker, go to your bank first. I do have one at Chase if you would like it.
PrincessConsuela
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Re: NWR - Anyone recommend a good Mortgage Broker?
Huntington mortgage bank
we used them and were sooo happy
we used this guy garret. i forget his last name. everything went smoothly and would definetly use them again.
also at the closing garret showed up with a bottle of champange for us!!!!!!
Preshy7
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Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
i suggest lending tree- i had a morgage broker that my agent recommended and her estimated rates...
then i went onto lending tree to make sure my brokers rates were as good as she says- the guys on lending tree gave me great rates and it was a toss up between them and my broker but i went with my broker because she was recommended to me
TheBigDay
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Re: NWR - Anyone recommend a good Mortgage Broker?
check out www.americanhm.com they have lots of information... and FYI as another one posted be sure to ask about piggy back loans if you dont have 20% to put down..
also, if you are applying, definitly apply to more than one place to compare rates and programs (not just your own bank or CU) but do all the applications w/in a couple weeks. if you do one this month and another next month it will appear as 2 hits on your credit report (by hit's I mean, credit pulls which signifies you looking for a loan) and can possibly lower your score a little... when you look for loans and apply all with in a couple weeks (having credit pulled numerous times with in a couple weeks) it will only show as 1 hit... as opposed to applying a few times over a few months..
Good luck!
JCam695
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Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
my MOH's husband is a mortgage broker, I will FM you with his contact info.
SPITSBRIDE
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Re: NWR - Anyone recommend a good Mortgage Broker?
Posted by KellyBride
Preferably on Long Island, Suffolk if at all possible.
Should this be our first step before we even start looking at houses? I need someone to help us see how much we can afford based on our salaries.
TIA
KELLY!!!!!...How exciting!!!...I hope this all works out for you. Danny and I are going thru his best friend who lives in Florida so I know that won't help you but I will definitely keep my ears open for ya.
SO happy for ya!!
xoxoxoxo...
Jackie
Beth1210
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Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
My Hubby owns a branch of a mortage company in LI
but he deals with poor credit and hard loans to close- type things
just stay away from Ameriquest- they are awful- he redoes there loans all the time- the rip people off - even people with good credit get terrible rates from them
if you have good credit and make enough $$ - you should start out at your bank- the fees will be lower
dani18
Posted:
Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
I work for a Real Estate Attorney in Oceanside. Unless you have bad credit or you need to do a no income check...DO NOT USE A Mortgage Broker! Go Directly to a Bank..Wells Fargo and GMAC are our Favorites. If you belong to a credit union thats def. the way to go. Mortgage brokers...are nice and charming and then they charge you BS fees. I cannot tell you how many times we've gone to a closing and the broker is making a shi*load of money off of you. There are so many ways for them to make money off of you and you not even realize. They may go to a bunch of banks with your information....and one bank says...i can offer them 6.5 interest rate. You broker then goes to you and says the best bank out there offered me 6.75 ....and they make $ off the.25 difference (yield spread). Make sure you always ask for a Good Faith Estimate for your attorney to review. Shop around...don't settle. With the costs of houses nowadays...you need to be VERY CAREFUL. WAY too many shadey people out there. If you need more help e-mail me at [email protected]. Good luck!
Beth1210
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Re: NWR - Anyone recommend a good Mortgage Broker?
Not all Mortgage Brokers are shady- they do charges fees- and are better for people in less the perfect situations- My hubby helps people when the banks wont- he has been in the business for years and will be for many more years to come
ETS- Banks also charge points- they need to make money also- most mortgage brokers make money off the back end- which comes from the lender- not the customer
Meaghan729
Posted:
Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
Not all banks will charge you points.
If you have decent credit, do not use brokers!! go to your regular bank first, then go on from there. Credit Unions have the best rates if you are in one.
Good Luck!!
And if you do not have 20% down (which who does??) definitely look into a second mortgage vs. PMI, because the mortgage interest will be tax deductable and PMI is not.
lsiliato
Posted:
Member since
Re: NWR - Anyone recommend a good Mortgage Broker?
I actually work for Countrywide Home Loans. We are a bank not a broker. Most of the time brokers charge you points and they are there for people with 620 or lower credit scores. If you have any questions I will be happy to help. Buying a house for the first time can be confusing and you should find out all the info you can before making a descision.
Countrywide Home Loans is the largest lender in the United States. We are also the highest in customer satisfaction.
