Best bank/ credit union for home loans ( rates)
In the process of obtaining pre-approval, I wanted to know whether you had any great experience shopping around for home loans and which finanical institution did you end up taking loan from?
Union bank , they had the lowest rates for my 7 arm loan , I had Boa match it .
I just got done crashing Wells Fargo about 8 months ago. They basically paid my closing ~6.5k credit and I got .325% lower then competition. All because they were desperate during the their fake account crisis. Oh and a broker helped me negotiate with them and get better terms. So definitely find a good one of those as others have suggested.
Pentagon federal always seem to have the best rate. I've used them to 3 mortgages and a car or two.
And what kind of broker is that? Not house broker right?
Find a real bank for an offer, a bad lender that close late can really screw up your closing.
It's also worth noting that your pre-approval doesn't have to be from the place you go with. I would just get the pre-approval form whatever place you have been doing business with the longest. It honestly can be granted in a day or so. Then when you find a house you can ask your realtor about a mortgage/loan broker or look online. In my experience if they won't make the time for you, explain the process, and tell you there attack plans then find another. You really don't need a place locked until a week before close and your normal under contract for 3ish weeks.
Use a broker and pick the one with the best terms and lower rate? Not rocket science, make em compete.