Arwill71, Home Buyer in

What's the best bank for first time home buyers?

Asked by Arwill71, Sat Dec 3, 2011

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8
You probably want to stick to a mortgage banker and not one of the big banks since you get better service and more options for various loan programs. You can find licensed mortgage bankers in your area at http://www.nmlsconsumeraccess.org If you want a free pre-approval prior to looking for a home, please call me at 972-854-3270 since our branch serves all of Texas.
1 vote Thank Flag Link Sun May 13, 2012
Many can help. If you already have a business relationship with a local bank contact them first to see what they can do for your. Another good source are credit unions.
0 votes Thank Flag Link Wed Dec 10, 2014
I work for a "big bank" - but to be honest, I wouldn't get my mortgage thru them (they're more of a upper-middle sized bank). We're not bad. But we don't offer the best. Unless you live in an area that is inundated by community banks, I recommend going with one of the big powerhouse banks - WellsFargo or Chase. And yes, ask for a mortgage officer. For those trying to spin the big, bad bank scenarios, big banks are REGISTERED, too. Just talk to a mortgage officer, not a regular banker. Wells & Chase have the technology, resources and experience to advise you on all your options. Hands down, I'd rather go to someone who can take care of my lending needs...not just be nice & friendly.
0 votes Thank Flag Link Wed Dec 10, 2014
It is not the bank but the mortgage originator that determines how smoothly the transaction goes. You need someone who knows the rules of originating and how to do paperwork.
In my area the credit unions have originators who are just order takers, so I do not recommend them
0 votes Thank Flag Link Mon Dec 5, 2011
Hi, If your considering buying a home, it's always a good idea to find a real estate agent to represent you as the buyer. This DOES NOT cost you anything, since their commission is paid for by the seller. With that being said most realtors have two or three lenders that we like to work with depending on the needs of the buyer. I like to call a loan officer for my potential customers to introduce them. Personally, for a local bank, I recommend First Financial Bank quite often. CityBank also does a good job, and I have a couple other lenders that are exceptional for "special needs" in loans. I'd be happy to visit with you more regarding your specific circumstances, if you'd like to call or email me.
Thanks, Tammi
0 votes Thank Flag Link Mon Dec 5, 2011
Mortgage Bankers in your community will provide you with a much higher quality of service and financing options than any "Big Bank." Local Mortgage Bankers have long been the source of excellent financing options for homebuyers. Further, Loan Originators who work at Mortgage Banks are LICENSED whereas Loan Originators who work for the "Big Banks" are only REGISTERED. There's a BIG difference.

Sit down face to face with your Mortgage Banker to be thoroughly prequalified. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Consumers have been led to believe---thanks to huge advertising budgets with the BIG BANKS---that they should go to their bank for a mortgage loan. This is the WORST place to get assistance with the BIGGEST PURCHASE of your life! These BIG BANKS are basically BIG CORPORATIONS. You're a number, at best. With a Local Mortgage Banker you will be treated like a friend and a client for life. You can't imagine the high quality of personalized service you will receive from a Mortgage Banker until you try.

As to price---rate and fees---competitive if not better than the BIG BANKS.

You can verify the License of any Licensed Mortgage Loan Originator at nmls.consumeraccess.org

Trevor Curran
NMLS #40140
Web Reference: http://tcurranmortgage.com
0 votes Thank Flag Link Mon Dec 5, 2011
I agree with Annette. A local credit union is the way to go. Second I would say a small local bank where you currently do business. Smaller banks are able and want to give you a loan. It takes less time and you are reinvesting in your community. The larger banks, don't have the personal touch and can take much longer to get anything done.

If you need help finding a local, Talk with you local realtor as they should have a list of people that they have used before.

Hope this helps.
0 votes Thank Flag Link Sun Dec 4, 2011
Your local credit union.
Do not be tempted to walk into the lobby of any of the Big Banks.

Next consult with a regional bank. Don't chat with the people behind the counter but ask to talk to their mortgage officer.

Finally, respond to the mortgage professional who responds to your question here on Trulia. Mortgage brokers have a large portfolio of options that may present an even better option for you.
0 votes Thank Flag Link Sun Dec 4, 2011
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