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Best bank for a first time home buyer?

Hi everyone, my fiance and I are looking to buy and move into a place in April of next year. We want to get pre-approved soon so we can start seriously looking into places instead of me just drooling over my dream homes. But - I have no idea where to even start! What is experience's experience with finding a bank/broker to get approved for a mortgage? Are there some banks that are nicer or cheaper for first time home buyers?

Re: Best bank for a first time home buyer?

  • We talked to our realtor who directed us in the right direction.  We used a mortgage company and the broker did all the work with getting us pre-approved then found then dealt with getting the loan.   We used Mercury Mortgage but I believe they are no longer in business now.   If you ask the realtor they may have a suggestion for someone they have worked with.

     

    Good Luck!

  • I trust banks over brokers trying to make a buck. I had the best experience with Rahway Savings Institute.
  • I work for a mortgage company and would be happy to give you advice or info. My email is jscianc@gmail.com
  • We live in Somerset County and attended a first time home buyers class offered by Central Jersey Housing Resource Center www.cjhrc.org  We were able to get a great rate, 30 year fixed, no points and no pmi.  We attended a 1 on 1 session with our budget and attended  4 hour class.  You can also see if you are eligible for a mortgaging through the NJ Housing and Morgage Financing Agency www.state.nj.us/dca/hmfa/media/.../buyer/hb_firstttimebuyer_fs.pdf    
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  • Thanks for the tips everyone! I should probably take that class Mrs. JBW mentioned, I don't know a thing. :/
  • We found the broker that was associated with our realtor company to be pushy & too fast talking for our taste. So, we went with a traditional bank.

    We used Chase as 1st time home buyers & were/are very happy with them. We have a 30 yr conventional loan w/ their 1% cash back program.

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