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New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Should I look at more than one mortgage company

[ Edited ]

Hello,

 

I have been working with FGMC for about 4 months now with LO Edit out of Marietta Georgia.  I'm not happy with his work or the progress that has taken place.  I want to try this company Veterans United has anyone heard of them?  Any advice would be greatly appreciated.

 

Thank you in advanc

 

Edited to remove personal name.  Shogun, myFICO moderator

Frequent Contributor
brother7
Posts: 377
Registered: ‎02-06-2009
0

Re: Should I look at more than one mortgage company

To answer the question in your Subject line, the answer is YES. You should always shop for the best mortgage rate.

 

However, the best practice is to do all your rate shopping within a small time frame, say 1-2 weeks. That way, all of your inquires will be lumped together and potential creditors will see that you are rate shopping for one mortgage, not seeking a lot of separate credit lines.

 

Nowadays, people can shop for the best rates and complete the entire process onine. I suggest you look into Quicken Loans to start.


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New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Should I look at more than one mortgage company

Thank you

 

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Should I look at more than one mortgage company

Hi and welcome to myfico forums! It definately helps you to compare the good faith estimates from various lenders. Definately you want to work with someone who is knowledgeable and friendly. What are your scores; incomes; and debts? What are your payment amounts? What price range of home are you looking for? Do you have reserves or a good amount of savings? I highly recommend that you check out the MyFico Mortgage Loan forum.

Below is a short list of helpful mortgage loan related links that may help you prepare for the process:

Guide to Common Abbreviations - Barry

 


Mortgage Acronyms & Abbreviations (what does PITI mean?) - ShanetheMortgageMan

Good Faith Estimates Explained - ShanetheMortgageMan

 

The Mortgage Pre-Approval Process - ShanetheMortgageMan

 

Evaluating Conventional vs. FHA (VA & USDA)- ShanetheMortgageMan

 

Definately feel free to post any questions you have about DTI and Pre-Approval Odds over there!  In addition, you may qualify for downpayment assistance as well as other programs to help you get into a new home!

 

Best of Luck to you!

 


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New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Should I look at more than one mortgage company

Thank you


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