Mortgage Loans

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
New Contributor
bellrod44
Posts: 62
Registered: ‎12-05-2011

USB or broker?

Options

‎07-26-2012 08:33 AM

I'm currently pre-approved through US Bank for an FHA loan. But, I've been kind of frustrated with the lack of communication. Is it a bad idea to shop around with a broker? I mean, they are brokers who deal with multiple lenders. Do you think they'll be able to get a much better deal than with a big bank?

 

I'm new to this process, so any suggestions would be helpful.

Scores: Lender pulled 7/31/12
EQ - 662
TU - 684
EX - 676

Cards in my wallet: BofA 1-2-3 Rewards - $1,000 (5/2012), Walmart - $150 (9/2012), Home Depot - $500 (10/2012), US Bank - $1,000 (11/2012)
Message 1 of 3 (151 Views)
 
Reply
New Contributor
bellrod44
Posts: 62
Registered: ‎12-05-2011

Re: USB or broker?

Options

‎07-30-2012 06:58 AM

Anyone???

Scores: Lender pulled 7/31/12
EQ - 662
TU - 684
EX - 676

Cards in my wallet: BofA 1-2-3 Rewards - $1,000 (5/2012), Walmart - $150 (9/2012), Home Depot - $500 (10/2012), US Bank - $1,000 (11/2012)
Message 2 of 3 (122 Views)
 
Reply
Valued Contributor
StartingOver10
Posts: 1,512
Registered: ‎03-06-2010

Re: USB or broker?

Options

‎07-30-2012 07:08 AM

If your current lender is non-responsive, then shop around. Get a mortgage banker, they fund their own deals and are generally more responsive than the large banks. They can broker out a deal or fund it. They have more loan options than a direct lender like USB.

Current: TU 719 Nov 2012 and EQ 682 Nov 2012
Goal: 720 by mid 2013

In the garden now .....
Message 3 of 3 (118 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+