| The porcess of buying a home |
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kona95
New Member
Cash: $ 0.70
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Joined: 01 Mar 2006
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| The porcess of buying a home |
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What would be the advantages of visiting a mortage broker vs. bank vs. any normal lender?
I understand that you should find out what you qualify for, prior to looking at any property. The dilemma .... Who do I go to to for the loan and doesn't it matter the amount of times that your credit report is run?
Please Advise. 
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Mon Mar 13, 2006 2:55 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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| Re: The porcess of buying a home |
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quote:
Originally posted by kona95
doesn't it matter the amount of times that your credit report is run?
Yes, credit checks ding you ~5 pts. each time. Lending Tree will ding your score 20-25 pts.
Know your score up-front and ask lenders what terms they offer based on that score...you can narrow down lenders without being checked.
Who is better? The one with the best terms. Brokers have a variety of options over a bank.
"Expect me when you see me."
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Mon Mar 13, 2006 3:43 pm |
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mikeb
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Cash: $ 1.95
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Location: DC metro
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I was recently going through the same process and was told multiple inquires within a 14 day period are treated as 1 inqury with regards to your credit score.
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Mon Mar 13, 2006 5:52 pm |
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