People who have recently purchased a home - where did you get your mortgage and why? Where is the property that you purchased? What other lenders did you consider? Blinders choices: - Wells Fargo (pros: low rates, cons: theft?) - Chase (pros: fast) - Charles Schwab (pros: good jumbo rates) - Key Bank (pros: low rates) - Citi Bank (pros: low 15y fixed rate) - Loan Depot - Caliber Home Loans (pros: fast) - Fairway (cons: slow) - US Bank More lenders: - TD Bank - Rocket Mortgage Quicken Loans - Better - Bank of America - Guaranteed Rate Affinity - FM Home Loans - SoFi - Costco - Credit Unions Misc Tips: - Check relationship bonuses at big banks. I will update this list as answers come in. #housing #mortgage
Loan depot
Any reason?
US Bank
Any reason?
They gave good rates to me. The only reason. I heard about that from someone else in a website. I forgot the name, but people share their recent mortgage or refi there with contact of the lender. It's something.fyi, get a quote fyi or something similar. Mine was refi on sfh.
Fairway mortgage because that's where I got my pre-approval from and delayed shopping my mortgage until it was too late to close with another lender. Bought a condo in silicon valley. Doing it again I would have shopped quicken, better.com, and the realtors preferred mortgage broker. I'd also never open an account with Wells Fargo. On average they have taken hundreds of dollars from each customer illegally, and fined for it more than once. At this point, if you give Wells Fargo money, you can't reasonably complain if the don't give it back. And if they foreclose on a house that is current on it's payments and sell it at auction, well, they have a dedicated team to handle that.
Whoever offers the lowest rate and best deal. Sometimes that's costco, sometimes it's a big bank with a relationship bonus, and sometimes its a small lender. Shop around and make em compete!
Key bank. Because they are still giving loan below 3%
Citi bank. Refi. 15 years fixed for 1.87%.
Credit score?
Wells Fargo. Also looked at Veteran’s United, USAA, Chase, and a mortgage broker. I bank with Chase and have a credit card and home and auto insurance through USAA. Also have a credit card with Wells Fargo. I simply went with the best rate.
Wells and Schwab got me the best rates for jumbo (purchase & refi); with the relationship discounts (maxes out at 0.5% & 0.75% rate reduction, respectively)
Chase for purchase. The rates were okay at the time. They were able to close in two weeks which was essential for the purchase. I used better.com for refi. The process was very smooth, and the rate/fees were low.
Caliber home loans, because they’re fast
Location and rate? What else was considered?