Hey everyone,
So my DW and I are having to accelerate our plans for buying which makes everything much more stressful, we haven't sat down with any lenders yet so I'm not sure where a reputable place to start would be. We've talked to the manager at our branch (Citi) about our interest etc. but haven't run any numbers. Should we start by going to local real estate offices that offer in house financing? Not sure exactly where to start. Thanks for any and all help!
So my DW and I are having to accelerate our plans for buying which makes everything much more stressful, we haven't sat down with any lenders yet so I'm not sure where a reputable place to start would be. We've talked to the manager at our branch (Citi) about our interest etc. but haven't run any numbers. Should we start by going to local real estate offices that offer in house financing? Not sure exactly where to start. Thanks for any and all help!
Starting Score: TU 660 EQ 623 EX 644
I went online with Mortgage Lenders America. Got a fast pre approval once i emailed tax info and what not.
Then began the house hunt with that letter was able to make offers.
In the end i went with a lender my Realtor recomended.
So you are not set in stone to use the preapproval you get 1st.
One thing i noticed with MLA was how fast the LO was to respond to all questions. His rate was lower than who my Realtor reccomended even.
If you can request an LO with MLA Beau Charbonneau is who i was talking to.
He gave me insight on why to do a 15 year over 30 year that was very usefull.
With 10% down and 15 year you can get rates as low as 2.6% and own the house in 15 years for very little extra each month over a 30 year if paying PMI at 1.25%.
This was due to PMI was only 0.25% on a 15 year with 10% down.
Starting Score: 701
Also look around for different programs that may help with the downpayment and closing costs through your housing authority or a CU if you are interested in that. I found the loan program that was perfect for my situation, started looking for homes, found a realtor through my search, called a Broker that worked with the loan program I wanted, got preapproved, switched lenders to get builder's incentives, and I made sure the new lender worked with the loan program I wanted.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
Last App: 4/5/13 Gardening until July 2014