Which campany is best for First Time Mortgage Loan?

Cerner
mortgageh

Cerner

PRE
Amazon
mortgagehmore
Jan 30 21 Comments

Hi all, I am planning to buy home for about 400k, looking for some company for loan. There are so many options like Bank of America, Chase, US Back (Large corporation) small credit unions and online mortgages like LoanDepot, LoanFight Quicken Loan. What are you guys experices with these. Are the interest rate same ? what differs from lender to lender? Which has the lowest fee in terms or closing cost and others.

comments

Want to comment? LOG IN or SIGN UP
TOP 21 Comments
  • Microsoft BcrX06
    First Tech Credit Union
    Jan 30 2
    • Microsoft AzureWolf
      +1
      Jan 30
    • First Tech Credit Union / Consultant
      TT425

      First Tech Credit Union Consultant

      PRE
      First Tech Federal Credit Union
      BIO
      Mortgage Consultant at First Tech Credit Union Seattle Market
      TT425more
      +2
      Feb 1
  • Microsoft antartica
    Credit unions are great usually. Also non banks like fairway mortgage are good, but they sell loans right away typically. Find a lender you can trust, thats the key. so they don't change rates later in the game and are also be able to close on time.
    Jan 30 0
  • Microsoft / Eng FwwQ08
    Ask a few realtors that you trust for references to loan brokers, and shop around. One lender is usually indistinguishable from another, and they’ll all end up selling the loan to someone else anyways. Find the one that gives you the best deal (and that isn’t scummy, of course).
    Jan 30 0
  • Microsoft profchaos
    if you end up working with an agent. He will have a list of trusted lenders. Choose the one with lowest rate. All loans end up in the big Fannie Mae and Freddie Mac pool.
    Jan 30 2
    • Microsoft BcrX06
      That agent may receive a commission, so they are not necessarily impartial.
      Jan 30
    • Workday / Eng efficient
      That’s if you are using conventional loans. These days private jumbo loans come with a better rate than conventional.
      Jan 30
  • Wells Fargo hsLy13
    DCU
    Jan 30 2
    • Cerner
      mortgageh

      Cerner

      PRE
      Amazon
      mortgagehmore
      OP
      what does that stand for
      Jan 30
    • Nvidia monolith
      Digital credit union.
      Jan 30
  • Airbnb username39
    Any reason not to use the best rate from Zillow’s comparison tool?
    Feb 3 1
    • Microsoft / Product pizzaqueen
      Find a good credit union and start banking with them. I have never understood why people use regular banks...they have way more costs and are generally unreasonable.

      At CU, Usually, the fees are much lower and may offer specials (.25 lower points, etc). They may sell the loan, but I prefer to find one that will keep the servicing. I have never had my taxes or insurance payments missed, etc. I know many others who sell loan and servicing (separately) and things get lost. You dont want your insurance or taxes to not get paid because your servicing has been sold three times and u can't find where/ who has it in the moment. I know people that have experienced it and it was a nightmare for both parties.

      If you are prior military or have a family member that is, use USAA or NFCU. If u dont have that option, focus on smaller local CU or banks (home street, key. Etc). If u ever get in a jam if u bank with where your mortgage is held they are more likely to care. My experience with NFCU with 4 mortgages now is excellent. They sell my mortgage but keep servicing. People may not think this is important until u can't figure out where your escrow account is. Just sharing some salty wisdom here :).

      Good luck with your house purchase, it is an exciting time, especially if it's your first.
      Feb 3
  • Amazon Boo007
    She is one of the best loan broker I have worked with.
    Jan 30 1
    • Cerner
      mortgageh

      Cerner

      PRE
      Amazon
      mortgagehmore
      OP
      Will try that
      Jan 30
  • Amazon Boo007
    Call Vanessa at 4088389242
    Jan 30 1
    • Which bank is Vanessa with ?
      Feb 5
  • Snapchat uOkV57
    Bankrate.com
    Jan 30 0
  • Microsoft / Eng RikSanchez
    Directors Mortgage has been awesome to work with.
    Jan 31 0
  • Nvidia
    js82jsq

    Nvidia

    PRE
    Juniper Networks
    js82jsqmore
    Either a Credit Union for a "good enough" rate with great service, or shop it on Zillow Mortgages for the *best* rate and 'good enough' service.
    Jan 30 0
  • Microsoft rfrw82
    I will tell you whom to avoid - Wells Fargo, thats who. Wells Fargo is the bank if you see walking on sidewalk, you cross the street and then take an underground to next stop and walk back to your destination.
    Jan 30 0

Salary
Comparison

    Real time salary information from verified employees