2024 Presidential Election
Yesterday
467
The Convict is still leading in polls.
Ask Blinders
Yesterday
1218
What’s up with Indians and the word “Kindly”?
India
Yesterday
482
Modi wins. India loses
India
Yesterday
295
Why are 46% Muslims in India OBC?
Tech Industry
Yesterday
544
How to achieve meteoric ascent at FAANG?
I'm looking to get a good idea of max loan amount I can qualify for. Is it a good idea to go through a mortgage broker? Are they able to contact multiple banks and figure out what I qualify for (full underwriting approval)? I recently applied to Guaranteed Rate. Not sure if that is considered a mortgage broker or not.
working with a mortgage broker / mortgage banker / direcet lender / bank / credit union should all be able to get your loan fully underwritten and approved quickly . comparison shopping is a good idea and if you do this - contact all the lenders you want the same day / use the parameters and get feedback from all of them ( ask them to not pull credit ) .....make a decision on lender and proceed ....once you find a property - you can compare rates/ fees again
Which of the first options do you recommend?
First Republic has a special program for Googlers. If you’re in the Bay Area or NY check them out. The rate is likely 1% or more cheaper than guaranteed rate and comes with a lender credit as well.
I had to use a broker recently and worked with a few. Guaranteed rate did a very good job and did a fully underwritten pre-approval. The rate, even with our visa issues, was very competitive. I can't say the same for other brokers, they were absolutely not competitive in terms of rate.
Thanks! Do you have recommendations for others besides Guaranteed?
Nope that's the only one that had good rates, at least in my case! The person I worked with was really responsive, almost at any time of the day/night. If you haven't been assigned someone, DM me and I can give you her name.