cancel
Showing results for 
Search instead for 
Did you mean: 

mortgage broker or direct lender??? Please help

tag
roshan
Contributor

mortgage broker or direct lender??? Please help

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

 

 

 

Message 1 of 5
4 REPLIES 4
namvet
Established Contributor

Re: mortgage broker or direct lender??? Please help

The mortgage broker will always be your best bet IMO.  They don't get paid unless your are closed,funded and happy!

Message 2 of 5
Booner72
Senior Contributor

Re: mortgage broker or direct lender??? Please help

+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.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 3 of 5
roshan
Contributor

Re: mortgage broker or direct lender??? Please help

Thanks for the input.

 

So Broker is better than direct lender..

Message 4 of 5
germaine47
Frequent Contributor

Re: mortgage broker or direct lender??? Please help

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.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.