Hi Everyone!
My wife and I are about to embark down the process of buying our first home. After nearly 10 years in NYC, a marriage, and two kids later, it's time to get out of this apartment and into a house. My FICO bounces around 805 and 820, depending on the month and the balances on the cards.
We're going to be buying a house in the suburbs of MD, right outside of DC. Purchase price will probably be between $950k and $1.1mm. We're planning on putting 20% down and definitely want a 30 year fixed.
I've done some preliminary browsing online for lenders to reach out to, and was hoping people here might be able to offer suggestions of lenders to look at. I don't love the idea of using a service like LendingTree, since I'm not keen on being a lead in a database for the foreseeable future nor do I want a ton of unsolicited calls from random lenders. However I don't feel like I've done a great job of finding enough lenders that are competitive for this type of jumbo loan. The best options I've seen advertised online are CIT Group (offering around 4.125%), Ally Bank (4.25%), and PNC Bank (4.125%). I think I'll reach out to NFCU and PenFed as well, but don't know how they'll stack up rate wise. I haven’t reached out to anyone yet, just trying to compile a list.
Are there lenders that are known for being super rate competitive for this type of jumbo loan? Is there a Kayak type search database where lenders post their rates for people to browse? Ideally I'd like to reach out to 4 or 5 lenders and see who comes back with the best offer.
I'd also love to work with a lender that offers mortgage recasting (or auto-recasts based on additional principal payments made), but I don't think that's something I'll be able to figure out without engaging them directly.
Any suggestions of lenders to reach out to, or resources to browse to get better ideas would be amazing!
Thank you!
