Buying A Home
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Mortgage ?

When you shop around for the best rates on a mortgage do you just go to several banks and have them give you preapprovals?  Or actually complete a full mortgage application?  Also, did anybody shop around online?  Any good sites you used?  TIA!
Lilypie Second Birthday tickers Anniversary

Re: Mortgage ?

  • imageMaLove07:
    When you shop around for the best rates on a mortgage do you just go to several banks and have them give you preapprovals?  You can do this, or you can go to a mortgage broker and s/he can "shop" the rates for you.

    Or actually complete a full mortgage application?  You don't do this until you are under contract on a home.

    Also, did anybody shop around online? No and I wouldn't go to an online mortgage company. You might save a tad on a rate but you'll have hellish customer service and a hard time getting the job done in time to meet your contract deadlines with the sellers.  Any good sites you used?  TIA!

  • imageMommyLiberty5013:

    imageMaLove07:
    When you shop around for the best rates on a mortgage do you just go to several banks and have them give you preapprovals?  You can do this, or you can go to a mortgage broker and s/he can "shop" the rates for you.

    Or actually complete a full mortgage application?  You don't do this until you are under contract on a home.

    Also, did anybody shop around online? No and I wouldn't go to an online mortgage company. You might save a tad on a rate but you'll have hellish customer service and a hard time getting the job done in time to meet your contract deadlines with the sellers.  Any good sites you used?  TIA!

    I agree with the bolded.

    We locked in at 3.39% in March and we used a mortgage broker a friend recommended. The bank our mortgage is with offered us a mortgage at 3.99% less then a month before we talked to the broker and he got us a better interest rate. (this could also be because the bank never actually ran a credit check on us the first time.) But it is worth a try.

    Our scores are both 750+ 

    The most beautiful things in the world are not seen nor touched. They are felt with the heart. -- Helen Keller Daisypath Anniversary tickers
  • Thanks!  We just put it an offer which was accepted this weekend so now we are trying to get a mortgage with a great interest rate!  Our realtor suggested a WellsFargo guy but we were thinking it might be better to go with a broker, but I have no idea how to find one!
    Lilypie Second Birthday tickers Anniversary
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