Which is the better value? A union mortgage lender that charges no fees with the current market rates or a regular large bank that charges appraisal,

Asked by Millie, 11001 Fri Feb 24, 2012

processing and underwriting feels with the promise a slightly lower interest rate? Please advise. thanks.

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4
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Fri Feb 24, 2012
Credit unions are not the only ones who don't charge fees. There are times when I'm able to work it out do the buyer not only pay $0 in fees but actually get some money back towards other closing costs. Often credit unions don't offer mortgage products that other banks offer, and sometimes major banking institutions (Bank of America or Wells Fargo) are so big that they can afford to be more conservative as to what loans they approve or not, they're not as flexible. Then you have more of local lending institutions or community banks that are flexible and can also offer competitive rates.

It's about meeting with a loan officer and going with someone who you feel is being honest and can offer competitive rates an terms. Someone who is reputable and can offer quality service.
1 vote
, ,
Sun Nov 17, 2013
I am currently running a promotion where there is no processing fee, no application fee and no appraisal fee. You will get full service of a licensed mortgage broker who will give you an overall much better value as compared to union mortgage lender or other large lenders. Would be worth your while to compare.
Please call me if you like to discuss.

Thanks

Sanjeev Ahuja NMLS # 148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Ph 917-517-2552
NYS Registered Broker, Department of Financial Services, Loans Arranged through third parties NMLS # 885573
0 votes
Sarbjeet Kaur…, Agent, Garden City Park, NY
Fri Mar 1, 2013
I just recently sold a house and the purchaser used a federal credit union to acquire the mortgage, the process in their case was very smooth and the interest rate was low. Keep in mind though that if you are trying to get a mortgage to purchase a co-op, its difficult with many of the credit unions.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Feb 24, 2012
You may wish to shop around, check with other lenders, mortgage brokers, then decide what's best for you; if you need recommendations feel free to contact me directly.
0 votes
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