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09-16-2008, 10:32 AM
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We need a mortgage brokered deal before this friday and
no later than 0ct 15? Family income for past two years is $82000 We will put down 50% on a $125000 condo. We want a fixed best rate for 15years. No bs and all information up from from the mb before we sign on the dotted line.
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09-16-2008, 12:10 PM
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1st ... Do NOT use a Mortgage Broker as you will end up paying several thousand more at closing for their service which YOU can do yourself ...2nd .. Go to a local bank ..preferably one like Bank of America which is very sound right now .....3rd .... Check with local indy banks as sometimes their rates are lower than most and will bend over backwards to accomodate your needs ...Best of Luck !!
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09-16-2008, 12:25 PM
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Try your bank. If you have had a long standing relationship with them they should bend over backwards to help you. Bank of America can close you in a couple of days if that doesn't work out. Your timing is going to limit your ability to shop for the best rates. Ask for a copy of the settlement statement 24 hours before closing to check it and make sure there are no mistakes. Mistakes are made all the time; it is RARELY the mortgage officers fault, just remember that if you find one. Your file has to pass through a lot of human beings hands, and with a short time frame to work with the opportunity for error will be heightened.
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09-16-2008, 12:31 PM
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I own a mortgage brokerage and I disagree with both answers. Mortgage brokers are not always more in closing costs than banks. Mortgage brokers can look at several banks when shopping mortgage rates for you. They will choose the one that meets your needs weather it be the lowest rate or the lowest closing costs or a combination of both.
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