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anjerandunder
Positive thoughts worked!!!
Member since 6/06 1909 total posts
Name:
J
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commitment quest
if i get a commitment from one mortgage broker do i have to stay with them or can i still shop around?
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Posted 4/11/07 1:58 PM  |
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Joanna
LIF Infant
Member since 3/07 99 total posts
Name:
Joanna
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Re: commitment quest
I would imagine if you haven't given them any money or signed anything stating you're obligated, you should be able to shop around. If you are shopping around, make it clear to everyone you deal with that you're shopping around. I found that banks are willing to compete, as are brokers.
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| Posted 4/11/07 2:02 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: commitment quest
Posted by Joanna
I would imagine if you haven't given them any money or signed anything stating you're obligated, you should be able to shop around. If you are shopping around, make it clear to everyone you deal with that you're shopping around. I found that banks are willing to compete, as are brokers.
I agree- I would talk to at least 3 people!
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| Posted 4/11/07 2:09 PM |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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Re: commitment quest
We talked to a few different places and went with the place that offered us the best rate. The other people, who were friends of DH, completely understood.
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| Posted 4/11/07 2:26 PM |
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AllyandMike
LIF Infant
Member since 4/06 64 total posts
Name:
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Re: commitment quest
You don't have to go with someone just because they gave you a committment letter. That is just letting you know you are approved and that they are offering you a mortgage. But, from what I've seen, most places want an application fee or some other fee at the time you apply. So unless you want to shell out $200+ for each application, i would just get rate quotes and pick one.
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| Posted 4/11/07 3:20 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: commitment quest
Posted by AllyandMike
You don't have to go with someone just because they gave you a committment letter. That is just letting you know you are approved and that they are offering you a mortgage. But, from what I've seen, most places want an application fee or some other fee at the time you apply. So unless you want to shell out $200+ for each application, i would just get rate quotes and pick one.
really?- of all the places my DH has worked over the years- I have never seen that to be the case
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| Posted 4/11/07 3:27 PM |
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