Financing in 92007>Question Details

J.P., Home Buyer in Tampa, FL

How do I find the best deal on a mortgage?

Asked by J.P., Tampa, FL Mon Apr 23, 2007

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I agree with Mr. Brady and somewhat agree with Mr. Shafron as long standing relationships with accountability matter but that doesn't necessarily mean you will get the best deal. The word deal is subjective. You may work with an amateur who may give you a great rate and charge you a small fee, but will he get your loan funded? Will he communicate with you and put you in the proper loan program? Will he take the time to work with you to give you the best financial advice? Working with a professional that charges you what he/she is worth and gives you a sound Mortgage Planning solution in addition to putting you into the best loan program that fit's your needs is worth it's weight in gold. Some people believe the best deal is paying more by getting the best advice and long term plan for their family. Others just want the lowest rate possible with discounted fees in the hopes that someone will eventually close their loan. Always ask questions regarding background, experience and mortgage planning. Check to see if they are licensed, have a professional website that includes information about their company etc. So how do you find the best deal on a mortgage? Work with a professional that's going to be upfront and honest about a long term plan for you!
0 votes Thank Flag Link Wed Sep 26, 2007
Make sure that you know exactly what you are getting wit a lender. Often you will see ads that say, "No fees, no costs, no points, " etc. Let's think about it. There are no free lunches! You are paying somewhere, somehow. Make sure that you know and understand the estimated closing costs, and that you have a lender you feel you can trust. I often hear people who think the only way to compare a loan is by the interest rates. That is only a small portion of what you need to consider. Get referrals from someone you can trust. If you have a realtor you trust, they should be able to recommend more than one person. Be cautious if they only have 1 lender they recommend. Many companies ask their agents to use the "house" lender. You need to know you are using the "best" lender! Give me a call if I may answer any questions for you about lenders- whether or not you need my services! 619-507-2100
0 votes Thank Flag Link Sun Jul 22, 2007
I like to work with independant mortgage brokers who can shop around the best rates for my clients. The brokers who can look at your full financial picture, can usually put together the best lending scenario for you. Call me today for more information 760-828-4474
Web Reference: http://www.eHomeSell.com
0 votes Thank Flag Link Tue May 15, 2007
I'll disagree with Mr. Shafran...a bit. He is mostly correct. Objectivity can be lost on a Realtor-referred lender. The very best lenders are often referred by the very best Realtors because of their objectivity and straightforward advice. This award-wining article might clarify things for you:
0 votes Thank Flag Link Fri May 11, 2007
The very best lenders are the ones who have strong, established relationships with the strongest realtors in the city. These relationships hold the lender accountable by successful realtors that help hold these lenders accountable for the protection of the consumer.
0 votes Thank Flag Link Mon Apr 23, 2007
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