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Hi friends
need your help.
mortgage broker or direct lender
So i apply for loan at 5 different places and came to final Two
One Broker and One Direct Lender
And both of them are offerming me Wells Fargo conventional loan with Same price.
Here is info
home price: $370,000
Mortgage amount: $333,000
First Direct WF LO offer me 4% interest rate with 0 points and All Bank fees waived including appraisal cost.
My Broker came with 4% rate with 0 points PLUS bank fee and appraisal cost. And guess which lender?? Wells Fargo
So both lender are Wells Fargo. one direct and second by broker
So I told Broker about Direct WF offer..So he talked to his WF contact and They matched the offer.
So Now i have two offer from WF one direct and one with broker
4% rate, 0 points, All banks fees waived including appraisal cost.
So WHICH ONE TO USE NOW????
direct wells fargo or wells fargo with broker???
Please HELP
The mortgage broker will always be your best bet IMO. They don't get paid unless your are closed,funded and happy!
+1.
Because if something comes up, they can always find someone else, and you don't have to start the whole thing over. And the stories I've heard about WF lying to get you in, or dropping you midway or at the end bc something they said was okay at the beginning ended up not being okay at the end.
GOOD LUCK!! 4% is great.
Thanks for the input.
So Broker is better than direct lender..
I would say Mortgage Broker, because the experience with the one I have is awesome. I have access to both her cell and work number and no matter what question I have she is patient and freindly. I told her the payment that I was comfortable with and she sent my preapproval letter to that statement so that noone would push or bully me into anything that I wasnt comfortable with. My payments will only be 21% of my gross income.