Question


docgabr...

I've picked the home, now the back and forth between me and the seller begins...so, I could use some advise!?

Who is a good lender to go to? I've been looking at Wells Fargo (and have been pre-approved)....I'm also being told that Bank of America is pretty good and they don't work on comission (?)...How about USAA? or any other? I'm in Northern Florida. My credit is ok, I have nothing outstanding to pay back it's just that I haven't done much credite wise for the last 7 yrs. I got enough in the bank to put one huge don payment (but of course, I won't do that)...I'm trying to see the best way possible to lower the interest rate also. Suggestions? Thank you Debbie

2 months ago - 3 answers

Best Answer

Chosen by Asker

My suggestion is to get a Good Faith Estimate from each lender you are considering. Show them the good faith estimates and make them bid on your business. Look for origination fees differences as well as other fees. See which one will give you the deal. Going through a bank is little harder to get a good deal. They don't have a lot of room to move on their fees. Also check out a broker they often can find the best deals! They don't have to stay within one bank. Some people don't like to use brokers because they think they are getting ripped off in fees. Do the same thing with them Get a good faith estimate. There are RESPA laws that need to be followed for these lenders to disclose all of their fees up front so that people don't get to the closing table and see that the numbers are hugely different than they were orignially quoted. Brokers usually have a lot more room to work with you. Good Job!!! Congrats

Source(s)

real estate agent

by DebbieA

2 months ago

Asker's Rating: 

Other Answers

You definitely need to get a mortgage in place. Do you have a bank you currently bank with? I would try them first.

by gafpromise- 2 months ago

I like Debbie's answer as well, I just wanted to add if you choose USAA, perhaps you can involve their mover's advantage program which hooks you up with a realtor that can broker the sale. When you use that program, you get cash back on your purchase.

by Pewpy- 1 month ago