We in the mortgage industry of course like to tout our superior customer service, but make no mistake about it rate is always going to be a very important factor in most borrowers' decision making.

Bandjrey, there is no way to guarantee you get the best rate out there because honestly there are just too many lenders out there that by the time you check with all of them (or even some of them) the rates have changed and your information could be inaccurate.

It's most important to a) select a lender who can deliver all the things they promise you - rate, payment, closing date, $$ out of pocket at closing; and b) select a lender who is going to give you a fair deal relative to the market.

After all, someone could offer you a 2% interest rate with no fees but if at the end of the day that is not close to what you get then what good does it do you? The streets are littered with the bones of borrowers who made rate their only criteria in selecting a loan and they wound up getting screwed. I'm sure you wouldn't have trouble finding a friend who had a "nightmare" mortgage experience. And most of them start out the same way...rate shopping.

Do yourself a favor: disregard the rates you see on the internet (it's mostly misleading or out of date anyway) and get a handful of referrals from family, friends, or your agent and take the time to talk to 3 or 4 of them in depth to see what you qualify for and what they can offer you. I'm talking about reputable lenders with a local presence. Odds are you'll find comparable loan terms from one lender to the next, but you'll also find who you are most comfortable dealing with and this can help make sure you get the best deal as opposed to the best rate. Heck it may even be the best rate too.

Hope this helps and best of luck to you!

Hello,

What you see in the paper or advertised on the internet may vary. Some of them look to be a lot lower because you have to buy points to get it there. However, they don't say that in their ads. The best way to find the best "LOAN OFFICER" is by word of mouth. Definetly use a LOCAL broker. In other words, if you use Bank of America, use a local branch. In PA, time is of the essence and some out of state lenders do not know this, so they can really cause a lot of problems when it comes time to settle. Although, i'd stay away from big banks. They typically will have 1 product for you. I recommend using a broker who can shop multiple banks to get you the best rate available. I have sold 41 homes last year and all of my clients have been very pleased with the broker that I refer them to. She is very dedicated to working for you and getting you the best program available. One of the biggest things today is having someone spell everything out to you. If you would like her information, feel free to contact me and I will be happy to give it to you.

Good luck.

Sean LaSalle
Weichert Realtors
610-737-5369

Hi Bandjrey,

This question has many answers - the best advice I can give you is to ask questions upfront like what are your closing costs? Is my application fee refundable if my loan is declined?...etc. Also - if you don't understand a term that the lender is using ask him to explain it.

While you can submit apps with several lenders just like Bill P. states below your head will spin with the many ways mortgages can be sliced and diced.

With that being said - are you buying a Single Family Home, Condo, Owner Occupied, Non-owner occupied? The answers to my questions will help answer your questions accurately - otherwise we can only generalize.

I've you'd like give me a call and I'd be happy to answer any questions you may have.


Best regards,

Carlos R. Lievano
Mortgage Loan Officer
Bank of America Home Loans
Office 773.819.0002
Fax 866.517.1206
carlos.lievano@bankofamerica.com

Don't just ask the rate, ask the APR. Lenders are required to tell you the actual APR which will take into account lender fees such as points, processing fees etc. By comparing APR you can see the difference between a lender telling you 5% with an APR of 5.525% and a lender telling you 5.25% with an APR of 5.3%.
Best of luck
Kathy Stark
Weichert, Realtors

Hi Bandrey

I am a realtor with Preudential Patt White in Allentown and live in Emmaus. I would suggest giving the mortgage guy I work with a call. His name is Steve Slaski at Premier Mortgage. Phone number 610-351-7888.


Frank Rader
Prudential Patt White RE
484-358-3557

You can't guarantee the best rate. You can however get the best service. Rates can be sold to you any way you want to hear it. Like this: Bandjrey, I can get you a rate of 3% on a fixed rate loan! Really? Yes. It will cost you an arm and a leg, I'll promise it to you on an estimate and when we get ready to close, I'll switch the fees and the rate to reflect the true rate! How's that sound? Well not good. I would recommend that you ask a friend, relative or Realtor to give you a recommended lender that will offer you the best service. I'm sure if the person was recommened by a Realtor especially, you'll get the best rate and service. Now that's a deal!