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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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What bank did you use for purchase of your house?
Abd who had the best rates? TIA
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Posted 6/20/12 11:32 PM  |
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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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Re: What bank did you use for purchase of your house?
If we are part of bethpage federal credit union, should we check into them? Not sure if we should deal with broker that real estate person recommended or go to credit union/bank. I feel like I don't know what we're doing and whose best to go with.
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| Posted 6/21/12 6:10 AM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: What bank did you use for purchase of your house?
We used bethpage federal credit union. When we bought our house 2 years ago they had the best rates (along with TFCU) but were great to deal with. We started with TFCU but had some minor annoyances with them so we switched.
For our first house I think we used wells Fargo? I cant even remember, that was 8 yrs ago.
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| Posted 6/21/12 7:19 AM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: What bank did you use for purchase of your house?
My House down South is with Bank Of America Pain in the Ass
House up here was with Wells Fargo and we just Refianced with TFCU
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| Posted 6/21/12 7:55 AM |
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LotsaLuv
Us
Member since 6/10 4094 total posts
Name:
F
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Re: What bank did you use for purchase of your house?
We used Astoria and were very happy with them
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| Posted 6/21/12 8:25 AM |
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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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Re: What bank did you use for purchase of your house?
Thanks, the one I'm talking with now is Continental...the office that is in Copiague.
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| Posted 6/21/12 8:44 AM |
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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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Re: What bank did you use for purchase of your house?
Also if I went with Continental, is anyone there ok to deal with or would it be best to use specific people I've read on here using the search function? Thanks!
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| Posted 6/21/12 8:53 AM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: What bank did you use for purchase of your house?
using wells fargo
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| Posted 6/21/12 8:57 AM |
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PrettyPeonies
GAW my baby boy <3
Member since 8/10 3874 total posts
Name:
Pino
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Re: What bank did you use for purchase of your house?
We used wells fargo and it was the worst mistake in the world. We were originally working w/Continental and then switched b/c a family friend at Wells Fargo was supposed to of "take care of us". Yeah, we got suckered BIG time.  When we are able to refinance, in about 3 yrs, we are going back to Continental.
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| Posted 6/21/12 10:53 AM |
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EBG10
LIF Adolescent
Member since 1/10 642 total posts
Name:
Erin
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What bank did you use for purchase of your house?
Bank of America
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| Posted 6/21/12 11:04 AM |
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MrsRinNY
LIF Infant
Member since 4/10 117 total posts
Name:
Gina
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Re: What bank did you use for purchase of your house?
We also used continental. They were fantastic.
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| Posted 6/21/12 12:09 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: What bank did you use for purchase of your house?
We used Pat Marabella with Continental Home Loans. He was really great to deal with and has helped several people that I referred. His number is 631-390-6368.
Continental has several different teams of loan officers so in my expereience it is best to use someone who was referred.
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| Posted 6/21/12 12:09 PM |
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PumpkinGirl
:o)
Member since 10/08 1838 total posts
Name:
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What bank did you use for purchase of your house?
wells fargo
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| Posted 6/21/12 9:14 PM |
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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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Re: What bank did you use for purchase of your house?
Thanks. Would Berhpage be much cheaper with closing costs than Continental? I know I've read they charge fees and we really are reaching a limit on how much we can spend.
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| Posted 6/23/12 4:13 AM |
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Re: What bank did you use for purchase of your house?
Posted by christine79
Thanks. Would Berhpage be much cheaper with closing costs than Continental? I know I've read they charge fees and we really are reaching a limit on how much we can spend.
The biggest chunk of your closing costs are usually prepayments (e.g., taxes) and not fees. So closing costs may vary a little bit from lender to lender, but not drastically (if you are getting the same type of loan at both lenders).
If you speak to a lender and get quoted way lower closing costs, you should really question it. One of my customers was quoted very low closing costs by a local credit union, but it turns out, the loan officer was not including any of the prepayment items that would need to be paid out of the buyer's pocket at closing. He was only including fees to be paid. So you have to be sure that you are getting an idea of everything that has to be paid at the closing table, regardless of whether it is technically a fee or a prepayment of some kind.
And the fees aren't only to the bank directly, but to other parties such as the title company. But every lender, in my experience, is going to charge fees in some shape or form on a purchase mortgage, because they are not non-profits, you know?
Your best bet is probably just to start talking to recommended loan officers who can give you straight, and more detailed answers, about what you can expect your closing costs to be with them. I always recommend Steve Simpson of U.S. Mortgage Corp. (Levittown office) because he is knowledgeable and a straight-shooter. He genuinely cares about his customers. Let me know if you'd like his contact info.
If you can't afford to pay the closing costs out of pocket, but can still afford to buy a home (and have a down payment), then you can always do a seller's concession, which is basically a way for you to roll your closing costs into your mortgage loan (instead of paying them out of pocket). The downsides are that it does increase the amount of your loan a bit, and then it does bring the purchase price of your home up, so that your down payment is based off of the entire amount (what you are paying the seller, plus your rolled in closing costs). The appraisal must also come in for that higher amount that includes closing costs. But many buyers utilize this option to conserve their cash and it can work out well.
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| Posted 6/23/12 7:40 AM |
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DC HJJ M
Member since 8/07 3732 total posts
Name:
Crystal
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Re: What bank did you use for purchase of your house?
we used continental and were very pleased.
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| Posted 6/23/12 10:37 AM |
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tomcat
LIF Adult Cat
Member since 6/12 1308 total posts
Name:
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Re: What bank did you use for purchase of your house?
wells fargo
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| Posted 6/23/12 5:04 PM |
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shadows
LIF Adult
Member since 1/10 4694 total posts
Name:
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Re: What bank did you use for purchase of your house?
We used Suffolk Federal Credit Union. When we were looking for a mortgage a few years ago, credit unions were by far the cheapest.
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| Posted 6/23/12 8:48 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: What bank did you use for purchase of your house?
We've used BFCU for our main mortgage and our refinances. They have consitesntly had the lowest rates & fees around.
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| Posted 6/24/12 3:45 PM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
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Re: What bank did you use for purchase of your house?
I work for a huge bank and even with my employee discount Wells Fargo beat the rate. We have used them for the purchase of both of our homes.
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| Posted 6/24/12 8:29 PM |
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christine79
LIF Infant
Member since 2/11 171 total posts
Name:
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Re: What bank did you use for purchase of your house?
Thanks for the recs. I'm going to try speaking with someone at BFCU. For anyone who used them, can you recommend your loan officer? Thanks!
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| Posted 6/26/12 9:55 AM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: What bank did you use for purchase of your house?
Posted by VickiC
We've used BFCU for our main mortgage and our refinances. They have consitesntly had the lowest rates & fees around.
Same here. All of our loans are with BFCU. I love dealing with them.
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| Posted 6/26/12 11:44 AM |
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EMC11709
LIF Toddler
Member since 3/10 484 total posts
Name:
Erica
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Re: What bank did you use for purchase of your house?
Posted by christine79
Also if I went with Continental, is anyone there ok to deal with or would it be best to use specific people I've read on here using the search function? Thanks!
We used Isabel Dimola at continental, she was a pleasure to work with. Our mtg is now with chase.
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| Posted 6/26/12 1:08 PM |
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