Best Mortgage?

[j]

You should try a local credit union or bank. Mortgage brokers are a very dangerous way to go. You NEED to know the total price you are paying the broker for the loan including the YSP or rebate. If you do not KNOW that number is, do NOT sign the papers until you KNOW that number. You can go to a CPA or similar financial professional for maybe $300 and get that. That $300 can save $10,000 to $20,000 in many cases.

Don’t pay a mortgage broker $20,000 to $30,000 for one day’s work, because you do not know what you are signing.

[urbanrealtor]

I recommend sitting down with a few people who come recommended.

I see a lot of people buy houses and the thing that makes the most difference is the level of service.

Unless you have done this many times, the experience can be frustrating and draining.

Go with somebody who meets your needs for information, skill, advice, and cost.

Run your own credit and bring it with you.

Ask for a full good faith estimate every time.

People are typically more averse to lying in writing.

Also, you want to very explicitly ask about their licensing and experience.

If you walk into a bank, no license is usually needed because they are lending their own funds. They can promote a teller to loan officer.

However, recently several “consultants” have come under review from the state because they are originating and advising about loans with expired (or non-existent) licenses.

Good luck to you.

If you want recommendations, email me.

[email protected]

[urbanrealtor]

I recommend sitting down with a few people who come recommended.

I see a lot of people buy houses and the thing that makes the most difference is the level of service.

Unless you have done this many times, the experience can be frustrating and draining.

Go with somebody who meets your needs for information, skill, advice, and cost.

Run your own credit and bring it with you.

Ask for a full good faith estimate every time.

People are typically more averse to lying in writing.

Also, you want to very explicitly ask about their licensing and experience.

If you walk into a bank, no license is usually needed because they are lending their own funds. They can promote a teller to loan officer.

However, recently several “consultants” have come under review from the state because they are originating and advising about loans with expired (or non-existent) licenses.

Good luck to you.

If you want recommendations, email me.

[email protected]

[urbanrealtor]

I recommend sitting down with a few people who come recommended.

I see a lot of people buy houses and the thing that makes the most difference is the level of service.

Unless you have done this many times, the experience can be frustrating and draining.

Go with somebody who meets your needs for information, skill, advice, and cost.

Run your own credit and bring it with you.

Ask for a full good faith estimate every time.

People are typically more averse to lying in writing.

Also, you want to very explicitly ask about their licensing and experience.

If you walk into a bank, no license is usually needed because they are lending their own funds. They can promote a teller to loan officer.

However, recently several “consultants” have come under review from the state because they are originating and advising about loans with expired (or non-existent) licenses.

Good luck to you.

If you want recommendations, email me.

[email protected]

[urbanrealtor]

I recommend sitting down with a few people who come recommended.

I see a lot of people buy houses and the thing that makes the most difference is the level of service.

Unless you have done this many times, the experience can be frustrating and draining.

Go with somebody who meets your needs for information, skill, advice, and cost.

Run your own credit and bring it with you.

Ask for a full good faith estimate every time.

People are typically more averse to lying in writing.

Also, you want to very explicitly ask about their licensing and experience.

If you walk into a bank, no license is usually needed because they are lending their own funds. They can promote a teller to loan officer.

However, recently several “consultants” have come under review from the state because they are originating and advising about loans with expired (or non-existent) licenses.

Good luck to you.

If you want recommendations, email me.

[email protected]

[urbanrealtor]

I recommend sitting down with a few people who come recommended.

I see a lot of people buy houses and the thing that makes the most difference is the level of service.

Unless you have done this many times, the experience can be frustrating and draining.

Go with somebody who meets your needs for information, skill, advice, and cost.

Run your own credit and bring it with you.

Ask for a full good faith estimate every time.

People are typically more averse to lying in writing.

Also, you want to very explicitly ask about their licensing and experience.

If you walk into a bank, no license is usually needed because they are lending their own funds. They can promote a teller to loan officer.

However, recently several “consultants” have come under review from the state because they are originating and advising about loans with expired (or non-existent) licenses.

Good luck to you.

If you want recommendations, email me.

[email protected]

[McNabbs]

Thank you all for your advice.

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Or is it that the broker provides other services not available in banks?

[McNabbs]

Thank you all for your advice.

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Or is it that the broker provides other services not available in banks?

[McNabbs]

Thank you all for your advice.

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Or is it that the broker provides other services not available in banks?

[McNabbs]

Thank you all for your advice.

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Or is it that the broker provides other services not available in banks?

[McNabbs]

Thank you all for your advice.

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Or is it that the broker provides other services not available in banks?

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

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