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Kimberly Said:

Any advice on what's the best mortgage company to go with?

We Answered:

I hate to approach this question so shamelessly, but I believe you should work with my bank! ;-)

It's really more about the individual loan officer than the bank. In today's lending environment, banks, lenders, brokers, etc. essentially have the same products to offer with similar pricing. It's really up to the loan officer to set the pricing structure (rates & fees). Personally, I like to see what seller concessions can be worked into the purchase contract, so we can use that money to get you either the lowest possible rate, the lowest possible fees, or a healthy combo of both.

As far as large vs. small, brokers and even the mid-sized lenders are at a great disadvantage due to the fact that they are "third party originators" and the guidelines are a little bit tougher for them. It's not really fair, but that's the way it is. Banks use their own money to fund loans, thus the underwriters have a greater degree of latitude to make sensible decisions. Brokers don't use any of their own money, and lenders typically fund on warehouse lines, which are like huge revolving credit lines. However, the largest banks (the ones you mentioned among others) typically have salaried loan officers under a more structured program, so you will get the standard rate/fee offer until you start haggling. Do you really want to have to haggle with your loan officer?

If you're looking for a great loan officer with a great bank, email me and I'd love the opportunity to work with you! I'm happy to answer any questions you may have.

Charles

Audrey Said:

What is the best mortgage company?

We Answered:

Wells Fargo is just another Bank, no different than Bank of America.....but they do have a fairly consistent lending policy, so they treat everyone the same for the most part.

When you say "Best"...do you mean
1) Service (speed)?
2) Interest Rate?
3) Easier to qualify?

You need to know that for loans under $417000 in most areas (up to $729,500 in high cost areas), that Fannie Mae and Freddie Mac write the guidelines no matter whher you go to a Bank or Mortgage broker, the qualifying will be the same.

For FHA loans to $417,000, the guidelines are a bit easier if you have little down or weaker credit and income.

Personally, I think you need to do a lot more research about types of loans to see the kind of loan you want. (Conventional, FHA, Rural). A shortcut would be to go to the parents of friends and ask at least 3 different homeowners what their experince was and who they trust.

Basicaly, anyone over 50 should be of some help to you.

Lastly, a good mortgage broker will walk you through the process. DO NOT TRUST ANY REAL ESTATE AGENT with their suggestions as they are only concerned about sending ou to their friends for possible referral fees.

Good luck

Christopher Said:

Who is the best mortgage company in San Diego?

We Answered:

Call a real estate agent, they always know several lenders and will be able to point you to one that can better service your needs.

Phyllis Said:

what is the best mortgage leads company?

We Answered:

A good alternative to the expensive leads route is advertising. Check out RegionalMortgages.com
They are a online informational site about mortgages and loans. They also provide a national directory of local mortgage professionals. Get listed in the directory.
http://www.regionalmortgages.com

Colleen Said:

Best Mortgage company to get approved for home loan?

We Answered:

You may be approved for FHA loan with 97% financing. Assuming that it is buyers market, you may get lucky and seller's contribution will cover needed 3%. Keep in mind, it is important: you better look for honest and reliable mortgage specialist than the company. Conditions of your loan depend mostly on him. His job is to find a company and arrange the loan to suit your needs