Capt
It’s not true that with 25% down credit score doesn’t matter, and it wasn’t true 6 months ago for Fannie/Freddie.

Rayb,, I respect your opinions, but you don’t know what you’re talking about.
A direct lender or bank does not have to disclose YSP.
They are able to say” we don’t charge fees/points”
That is only true because they have HIGHER RETAIL rates, and ignorant consumers fall for this, including many intelligent people.

A broker offers WHOLESALE rates, and at the lowest rates, THERE IS NO YSP. It’s not a complicated secret. There are no backdoor deals, EVERYTHING is disclosed.

If a broker is fair, the end rate to the consumer is fair and often lower than any bank or credit union. If the broker is a pig, the consumer will pay more than they should.

The MOST important things today are proper disclosures and getting approved. Plenty of people might lock at the lowest rate they think can find, but they aren’t going to get approved.
Having a 2% rate that you can’t qualify for is meaningless.

It’s also that people here with a little bit of information that THINK they know what they are talking about are dangerous to get advice from, even though they mean well.
There’s a HUGE difference between an opinion and facts.

Different lenders have different wholesale rates as well, and some are VERY difficult to work with, even though they have the best pricing.

Today, some people can qualify for 30YR 4.875% 0 cost, 0 points OR 3.50% ARMS. It sounds real good, but most people don’t qualify, and people will lock the rate long before they find out that they cannot qualify…. HLS