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Mortgage lender question
H and I have found a home, have an accepted offer and signed P&S. Rates all of a sudden went up in the past 2 months so instead of 3.5% it's 4.5% at the bank we got our pre-approval from. I went to military.com and filled out some info and found an out of state bank that will give us a rate of 4.125%, saving us about $60/month on our payments. They're origination fee is much higher ($649 vs. $130 with the original bank) but obviously that's short term.
My question is does anyone have experience with out of state lenders? Should we try and find a local lender? Does it really matter in the long run if we're getting a better rate?
We're first time home buyers as well and I keep reading online not to use an out of state lender. We need to make a decision today on what lender we want to use.
ETA: I forgot to mention it's a VA loan so we do seem to be limited on in state lenders as well. Not a lot of banks offer them.
Re: Mortgage lender question