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4sranch_buyer.
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December 15, 2009 at 1:15 PM #494322December 15, 2009 at 3:56 PM #494910
scaredyclassic
Participantquestion; 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 #494998scaredyclassic
Participantquestion; 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 #495239scaredyclassic
Participantquestion; 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 #494524scaredyclassic
Participantquestion; 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 #494367scaredyclassic
Participantquestion; 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 #495337infoseeker
ParticipantI 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 #494466infoseeker
ParticipantI 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 #495097infoseeker
ParticipantI 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 #495010infoseeker
ParticipantI 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 #494625infoseeker
ParticipantI 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 #502217EVSDCA
ParticipantOn 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 #502366EVSDCA
ParticipantOn 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 #502767EVSDCA
ParticipantOn 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 #502860EVSDCA
ParticipantOn 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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