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December 15, 2009 at 1:15 PM #494322December 15, 2009 at 3:56 PM #494910scaredyclassicParticipant
question; if you google “Mortgage rate” it comes up witha lot of banks and loan terms. check it out–it’s pretty impresive. it even has criteria on the left to modify the search and links to get more ino…. is this as comprehensive as what a mortgage broker would do?
December 15, 2009 at 3:56 PM #494998scaredyclassicParticipantquestion; if you google “Mortgage rate” it comes up witha lot of banks and loan terms. check it out–it’s pretty impresive. it even has criteria on the left to modify the search and links to get more ino…. is this as comprehensive as what a mortgage broker would do?
December 15, 2009 at 3:56 PM #495239scaredyclassicParticipantquestion; if you google “Mortgage rate” it comes up witha lot of banks and loan terms. check it out–it’s pretty impresive. it even has criteria on the left to modify the search and links to get more ino…. is this as comprehensive as what a mortgage broker would do?
December 15, 2009 at 3:56 PM #494524scaredyclassicParticipantquestion; if you google “Mortgage rate” it comes up witha lot of banks and loan terms. check it out–it’s pretty impresive. it even has criteria on the left to modify the search and links to get more ino…. is this as comprehensive as what a mortgage broker would do?
December 15, 2009 at 3:56 PM #494367scaredyclassicParticipantquestion; if you google “Mortgage rate” it comes up witha lot of banks and loan terms. check it out–it’s pretty impresive. it even has criteria on the left to modify the search and links to get more ino…. is this as comprehensive as what a mortgage broker would do?
December 15, 2009 at 9:29 PM #495337infoseekerParticipantI would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
December 15, 2009 at 9:29 PM #494466infoseekerParticipantI would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
December 15, 2009 at 9:29 PM #495097infoseekerParticipantI would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
December 15, 2009 at 9:29 PM #495010infoseekerParticipantI would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
December 15, 2009 at 9:29 PM #494625infoseekerParticipantI would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.
January 14, 2010 at 3:58 PM #502217EVSDCAParticipantOn my good faith estimate, the mortgage broker charged me 0.75% (approximate $5K) for mortgage broker fee (item 808). Is this a standard fee if you go with a broker?
Thanks!January 14, 2010 at 3:58 PM #502366EVSDCAParticipantOn my good faith estimate, the mortgage broker charged me 0.75% (approximate $5K) for mortgage broker fee (item 808). Is this a standard fee if you go with a broker?
Thanks!January 14, 2010 at 3:58 PM #502767EVSDCAParticipantOn my good faith estimate, the mortgage broker charged me 0.75% (approximate $5K) for mortgage broker fee (item 808). Is this a standard fee if you go with a broker?
Thanks!January 14, 2010 at 3:58 PM #502860EVSDCAParticipantOn my good faith estimate, the mortgage broker charged me 0.75% (approximate $5K) for mortgage broker fee (item 808). Is this a standard fee if you go with a broker?
Thanks! -
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