Mortgage Loans

[joestay]

How many lenders do you apply with for a pre-approval?  Should I shop around?  What do I look for when shopping around for a loan?  I know I have a 30 day windows for all those hard pull to be counted as one during that 30 day window for shopping for a loan.

[boomhower]

Go to as many places as you feel you need to.  I only applied with one. You can post your GFE on here and others will be able to tell you if your getting a good deal or not.  Most will be very similar but some will charge higher fees.  A big thing is getting a LO who knows what they are doing.

[BreezyWe]

we went with a mortgage banker vs broker, supposed to be better, check out van dyk mortgage to see if you have one if your area. thats who we are using!

[joestay]

Hi.  Can someone tell me if this is a good deal so far or should I shop around.

Loan amount of $300k at 4% fix for 30 year.  Estimated charges/prepaid is about $7k with zero point.  This is direct lender.

[JusdoNit]

Are they offering a Lender credit to assist withe closing costs?

[joestay]

No.  No credit.

[boomhower]

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joestay wrote:

Hi.  Can someone tell me if this is a good deal so far or should I shop around.

Loan amount of $300k at 4% fix for 30 year.  Estimated charges/prepaid is about $7k with zero point.  This is direct lender.

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Post the GFE so we can see the fee's.  Most lenders will be pretty close for the rate but the big differences are in the closing fee's.  I only applied with one as the rate and the fees were right on the mark. If the first or second seems high keep shopping around until you get a deal your satisfied with.

[joestay]

Origination charge is about $1k.  Title serivces (settlement) and lender's title insurance is about $2.2k.  Owner's title insurance is about $1.5k.  Gov recording, transfer tax is about $600.  Daily interest charge is about $600.  Homeowner insurnace is about $1.2k.