At the moment I’m looking to purchase a property. I know a realtor well whom has been very helpful in my search for a primary residence. My realtor has given me some referrals to mortgage brokers in order to secure financing. Now I trust my realtor is trying to steer me well, however, I’d like to compare and contrast mortgage products in order to possibly negotiate fees, rates, and other costs. What would be a good site to evaluate different mortgage products? Can anyone offer some best practices?
I’ve used the same guy for my last three mortgages but I did shop around the last time. I asked a few friends who they used and talked to their mortgage brokers, and then I capped it off by calling Quicken Loans just to see what they’re all about. My guy still gave me the best deal so I didn’t switch but I was happy I shopped around.
Anyway, since mortgages are tailored to your property and credit it’s not easy to plug your info into a site and compare offers. Still have to do it yourself for the best results.
They pull your credit and you can opt for them to see cash in your accounts as well as balances on credit cards. It’s not quite perfect, but it’s pretty good when it comes to giving you product specifics you can work with. These are not prequalified offers however. Therefore as STL said, it’d be hard to compare and contrast many lenders without filling out a shtton of forms.
Disagree. Last year I compared WFC to a different firm and the costs were different (several thousands). Rates are one thing, and may not vary a ton, but all the associated costs of a loan are a different story. I think you can be too crazy on this too, just pick 1-3 places and see what comes back.