Going through your bank or mortgage broker

Anonymous · ‎04-03-2019

We are about to go through the pre approval process. My husband and I have all our accounts bank, car and a credit card through Chase. Is it best to go through them or get a mortgage broker. Our FICOs at both 700-740 .

Mortgage-Specialist · ‎04-03-2019

You're going to want to go with whoever gives you the best offer. Your credit doesnt need to be pulled to be given a quote. You'll want to know rate and points. I assume its a conventional loan you're considering? I ask because Chase isnt so great with FHA loans.

Anonymous · ‎04-03-2019

Yes we are wanting a Fannie Mae loan. With 40% and good credit I have no desire to do FHA

FlaDude · ‎04-03-2019

I wouldn't use a broker unless they can get you a better enough deal to offset their fee.

Scores: March 21 FICO 8: EX 810, TU 808, EQ 813
AoOA: closed: 36 years, open: 25 years; AAoA: 11.8 years
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Freedom Unlimited, Chase Amazon, Chase CSP, Chase United Explorer, Citi AA Plat, Sync Lowes, Sync JC Penney - total CL 145k
Loans: Chase car loan (35k/6yrs 0.9%)

JVille · ‎04-03-2019

You working with a Realtor who you trust? If so ask her, frankly Chase darn near screwed us and we had to take our loan down the street. We had all our other business at Chase and against my better judgement I went there. I mean how do you screw up a 50% LTV low ratios and 800 Fico Score. They found a way!

Ask your Realtor who is good in town, good pricing, good performance and getting the job done! FYI I am not a fan of big box banks, sometimes they are great often they are a mess.

Anonymous · ‎04-03-2019

@Mortgage-Specialist wrote:
You're going to want to go with whoever gives you the best offer. Your credit doesnt need to be pulled to be given a quote. You'll want to know rate and points. I assume its a conventional loan you're considering? I ask because Chase isnt so great with FHA loans.

This^^^^.. You go with whoever gives your the best offer. I personally love Chase and heavily bank with them but my mortgage is through a credit union. Do the math and see who is giving you the very best deal.