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Best Lender Mortgage

Pamela Said:

When purchasing an additional house, is it best to use the same mortgage lender or a different lender?

We Answered:

Irrelevant - go with whoever will give you the best deal.

Teresa Said:

When buying a home, what is the best lender to use for a mortgage?

We Answered:

I have two houses with mortgages, and here's what I learned:

Great banks = Wells Fargo Home Mortgage and Wachovia Mortgage. Great rates, minimal paperwork, intelligent banking staff.

Horrible banks = Bank of America and Ditech (legal name is GMAC). Rates are higher than everyone else, mountains of paperwork, and their banking staff are dumb as a box of hair (they applied my entire mortgage payment to extra principal, then charged me a late payment fee for not paying my regular mortgage payment).

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