Financing in 11961>Question Details

Looking4ahou…, Both Buyer and Seller in 10562

Would you recommend using a mortgage broker for FHA loans or are they all pretty standard across the board?

Asked by Looking4ahouse, 10562 Thu Nov 19, 2009

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Do your due diligence, they aren't all the same. Google search and look for other review/ rating sites. There are a few very good mortgage brokers on here which you can find by looking at their reviews. Don't just take someone's word, research them thoroughly.
0 votes Thank Flag Link Sat Sep 6, 2014
I would disagree with the last answer. With over 20 years in mortgage financing, I know that it is much less expensive going thru a mortgage broker than a mortgage banker. Since we have no fees and we are able to offer a much lower interest rate to the consumer it is truly the best choice.
We just closed an FHA loan in 9 days and were able to save the client over $8,000 in costs and fees at the same rate.
Sounds too good to be true?
Call me at 516 695-9043 and I will be happy to compare the real numbers and show you that I can save you money too.
I look forward to hearing from you,
Rick
0 votes Thank Flag Link Tue Sep 2, 2014
Dear Looking4ahouse,
I would highly encourage you to work with a local lender such as the one I represent. We are the longest established Mortgage Banker in NY and have been specializing in FHA financing since 1960! We offer personalized service and outstanding lending expertise.

Happy House Hunting and please do call me at 914-629-5661 and obtain your Preapproval Certificate ahead of time to ensure that you are prepared to make and offer.

Best Regards,

Deborah Camacho
0 votes Thank Flag Link Sun Nov 29, 2009
As a loan officer working for a broker, no company is the same across the board, whether a bank or a broker. Every company has programs differently from the next. There are some things I can't do that others can (stated income/reverse mortgages). Your best bet is to contact a Realtor, whether refinancing or buying/selling and ask him/her to refer you someone. You'll want to tell that lender your situation and see if they help you. You can check out HUD's website to look up your situation and see if it's standard practice or ask the question here and see if the answers are the same. Once you get over that hurdle, then you can start getting into rate/closing costs. Just be aware that the best rate doesn't always mean the best service. You get what you pay for.
0 votes Thank Flag Link Thu Nov 19, 2009
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