| Recommended Mortgage Sources |
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614Engineer
Member
Cash: $ 3.55
Posts: 17
Joined: 17 Dec 2015
Location: USA
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| Recommended Mortgage Sources |
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I'm getting ready to real estate shop in San Diego. Personal residence, likely a condo.
Recommendations for good mortgage sources? Online only companies? Credit union? Specific companies that are highly regarded?
This industry is like the fitness industry.. bombardment with so much crap, it's tough to find the actual real information through all the ads and BS.
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Mon Oct 24, 2016 12:32 am |
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614Engineer
Member
Cash: $ 3.55
Posts: 17
Joined: 17 Dec 2015
Location: USA
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Really, no feedback?
Everything seems to point to Bankrate and the lowest rates of the day, but what about an actual ranking of quality sources? I can imagine all the shortcuts companies could take to get to the top of that list....
All right, aim loan has an A+ rating on the BBB. Good enough for now I guess.
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Fri Oct 28, 2016 1:28 am |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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Remember, you are in the driver's seat. Get a 30 year, fixed rate loan. No VAR, no balloon, no designer loans. So your lender pays for the house - and is responsible to his stock holders to collect that money from you, per schedule. Your contract specifies the fixed rate and the 30 year term.
So if the lender goes broke and asks you to pay early - just say 'no'. Or if he says that he wants to change the interest rate, just say 'no'. Ie, you have the contract that you signed - so you are in charge, you can say 'no' to any requests.
I look for the best rate, terms, on my loans (home and rental houses). My last refi (3 or 4 yrs ago on a rental house) was thru Chase. I shopped my credit union, two other banks, and one online - no real preference, I just picked the lowest cost provider.
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Fri Oct 28, 2016 5:18 pm |
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614Engineer
Member
Cash: $ 3.55
Posts: 17
Joined: 17 Dec 2015
Location: USA
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Thank you OldGuy, greatly appreciated for the input.
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Sun Dec 04, 2016 10:53 pm |
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