how to find a mortgage

[roughtrader]

Hi all,

I’m a total newb at buying RE, and am just leisurely collecting information for my future home purchase.

What is the best way to shop for a loan? I went to BofA and got a preapproval letter, but their loan terms are not really good (7.5% jumbo with 1.25 pts paid on 75% LTV). Due to the number of mortgages they process, however, they are able to forgive all closing costs for the borrower.

I also talked to a mortgage broker, who quoted 6.25% on the conforming jumbos, same LTV, credit score, income, etc.

I have found that typically lenders are inflexible in bringing down the rate if the FICO is very high, LTV is very low, and income is very high. This particular broker quoted 0.5 pts fee for finding a loan.

Is there a good systematic way to shop for the best loan terms without using a broker?

Thanks,

RT

[enron_by_the_sea]

Have you checked out rates with San Diego county credit union or ING direct?

[enron_by_the_sea]

Have you checked out rates with San Diego county credit union or ING direct?

[enron_by_the_sea]

Have you checked out rates with San Diego county credit union or ING direct?

[enron_by_the_sea]

Have you checked out rates with San Diego county credit union or ING direct?

[enron_by_the_sea]

Have you checked out rates with San Diego county credit union or ING direct?

[roughtrader]

no, I haven’t. Is there something special about these two?

RT

[roughtrader]

no, I haven’t. Is there something special about these two?

RT

[roughtrader]

no, I haven’t. Is there something special about these two?

RT

[roughtrader]

no, I haven’t. Is there something special about these two?

RT

[roughtrader]

no, I haven’t. Is there something special about these two?

RT

[Nicole]

sorry i wish i had a systematic way, we were all over the place.

we settle on San Diego County Credit Union, worked with a young loan officer named Robyn Sylvia at the PB branch. I don’t think she has much experience given her young age, but she knows her products really well (and doesn’t BS anything). She provided the best costumer service in comparison to all the banks we worked with including BofA, Wells, and WaMu.

I really liked working with SDCCU because they didn’t seem to be in as much turmoil as the other banks, so we were about to get straight answers quickly.

btw, i’m in no way affiliated with SDCCU (other than the fact that I have a pre-approval with them now)

-nicole
new house hunter

[Nicole]

sorry i wish i had a systematic way, we were all over the place.

we settle on San Diego County Credit Union, worked with a young loan officer named Robyn Sylvia at the PB branch. I don’t think she has much experience given her young age, but she knows her products really well (and doesn’t BS anything). She provided the best costumer service in comparison to all the banks we worked with including BofA, Wells, and WaMu.

I really liked working with SDCCU because they didn’t seem to be in as much turmoil as the other banks, so we were about to get straight answers quickly.

btw, i’m in no way affiliated with SDCCU (other than the fact that I have a pre-approval with them now)

-nicole
new house hunter

[Nicole]

sorry i wish i had a systematic way, we were all over the place.

we settle on San Diego County Credit Union, worked with a young loan officer named Robyn Sylvia at the PB branch. I don’t think she has much experience given her young age, but she knows her products really well (and doesn’t BS anything). She provided the best costumer service in comparison to all the banks we worked with including BofA, Wells, and WaMu.

I really liked working with SDCCU because they didn’t seem to be in as much turmoil as the other banks, so we were about to get straight answers quickly.

btw, i’m in no way affiliated with SDCCU (other than the fact that I have a pre-approval with them now)

-nicole
new house hunter

[Nicole]

sorry i wish i had a systematic way, we were all over the place.

we settle on San Diego County Credit Union, worked with a young loan officer named Robyn Sylvia at the PB branch. I don’t think she has much experience given her young age, but she knows her products really well (and doesn’t BS anything). She provided the best costumer service in comparison to all the banks we worked with including BofA, Wells, and WaMu.

I really liked working with SDCCU because they didn’t seem to be in as much turmoil as the other banks, so we were about to get straight answers quickly.

btw, i’m in no way affiliated with SDCCU (other than the fact that I have a pre-approval with them now)

-nicole
new house hunter

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