I also doubt that your broker is thinking that there's no competition, the mortgage industry is hyper competitive and rates and fees are more likely predicated on your credit score (as well as how much your putting down, your debt to income ratio etc)
If you've got a contract and are expected to close within the next 6 weeks then the time to start shopping rates is past, you should have done this beforehand. Also if he's submitted paperwork I'm assuming you've alreadyt paid him the application fee which would typically be non-refundable.
If you're simply trying to get pre-approved then there's no reason in the worl you couldn't and shouldn't speak to other lenders.
I wish you all the best and hope things work out well for you.
We are applly for a Jumbo. Even 1/8 rate change would have a impact on the monthly payment, not to mention the saving for every year or over 30 year.
If I understand correctly from you, my plan is to work with both of them for 2 commitments, and pay 2 apprails and 2 application fee, then pick one whoever offers best rate 3 or 5 days before the closing. Does that work?
Many thanks again!
Did you get their GFE's so that you can really compare?
You may be better off with the higher rate; you need to see all the numbers.
If you don't understand what you are looking at; ask your Realtor to help you.
I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.
Wishing you all the best,
De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!