Mortgage/refinancing company recommendations?

[DeacOnCapeCod]

Looking into refinancing or possibly moving. We have our current mortgage with State Employee Credit Union but was looking for other options. Any recommendations on companies?

thanks.

DeacOnCapeCod (now fletcher, nc)

 

[ImTheCaptain]

Countrywide has competitive loans

 

[BostonDeac]

ha I was just going to say I got a killer jumbo loan from WF

 

[DCDeac]

Looking into refinancing or possibly moving. We have our current mortgage with State Employee Credit Union but was looking for other options. Any recommendations on companies?

thanks.

DeacOnCapeCod (now fletcher, nc)

Go to bankrate.com and put in your stats - you'll get rates returned with companies who can get them done. If you are pretty good with handling paperwork over the internet and you're just doing a simple refi, it's usually worth it to pick a small broker - like in Florida somewhere that's licensed in other states - because they're hurting for work and will push your loan just for the loan fee. I used United Mutual Funding Corp last time and it went smoothly.

They'll go through a big bank for the actual loan of course - mine went to Sun Trust after having gone to B of A before that. The rates were awesome and the fees as lean as they come. I even had a couple of "hookups" with Wells Fargo and Bank of America - couldn't come anywhere close. My favorite line was "Well, you can't actually get that rate anywhere at the type of loan you're looking at. Doesn't matter where you go." In way they were right since I get a quarter point under what I initially asked for.

 

[Biff Tannen]

Find a local mortgage broker who's actually good at what he does and you'll get as good of a rate as you will online and you won't have to do as much work.

 

[ImTheCaptain]

Find a local mortgage broker who's actually good at what he does and you'll get as good of a rate as you will online and you won't have to do as much work.

honest question,how does one accomplish this efficiently?

for a thing that happens pretty irregularly, it seems like it would take a lot of work to vet enough people to find a broker "actually good at his job"

 

[DeacOnCapeCod]

Thanks for the info. I was wanting to do this online- NCSECU is good but not offering quite what we need.

 

[DCDeac]

Find a local mortgage broker who's actually good at what he does and you'll get as good of a rate as you will online and you won't have to do as much work.

This is definitely not true in the DC area.

 

[buckets]

This is definitely not true in the DC area.

Why not?

 

[bym051d]

Find a local mortgage broker who's actually good at what he does and you'll get as good of a rate as you will online and you won't have to do as much work.

Dunno if it's still happening today, but when we bought our house, we used a local broker. Within a year, our mortgage was sold to a big company.

 

[Biff Tannen]

honest question,how does one accomplish this efficiently?

for a thing that happens pretty irregularly, it seems like it would take a lot of work to vet enough people to find a broker "actually good at his job"

Consult with local REALTORS. Ask friends who have done a refi recently. Consult your financial advisor.

 

[Biff Tannen]

Dunno if it's still happening today, but when we bought our house, we used a local broker. Within a year, our mortgage was sold to a big company.

Yeah, of course it was. He's a broker, not an originator. Banks sell mortgages all the time.

 

[Spot the Wonder]

I used www.Amerisave.com for my last 2 refi's. Got great rates from them. You can always check with www.mtgprofessor.com.

 

[RubbinsRacin]

always got the best rates w/ local broker. not surprised to hear this happens in CLT but not DC. incline!

 

[06deacon]

Yeah, local broker in Charlotte for both the initial home purchase and later refi.