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Comparing Rate with different Mortgage Brokers...
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RM23
LIF Adult
Member since 5/06 997 total posts
Name:
Rachel
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Comparing Rate with different Mortgage Brokers...
We are in the process of getting our mortgage. Contracts were just signed. The mortgage brokers we used on our last house had most of our documents and info and is quoting me rates. If I want to compare his rates with another broker just to see if someone can get me a better rate, does the new broker run my credit, or can I just tell him what our numbers are?
What about dealing directly with a bank or credit union?
Am I doing this the right way?
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Posted 10/28/09 10:51 AM  |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Comparing Rate with different Mortgage Brokers...
I believe each will run your credit UNLESS you have a copy of your credit report that they ran and you can give it to them.
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| Posted 10/28/09 11:05 AM |
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OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
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Re: Comparing Rate with different Mortgage Brokers...
I think you can have them "guesstimate" what they could get you if you tell them what your scores are. You should also call Astoria and Bethpage Federal Credit and ask them as well. We found that they had the best rates and lowest closing costs. Best of all, we did not have to pay the brokers fee and we saved a TON!
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| Posted 10/28/09 11:18 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Comparing Rate with different Mortgage Brokers...
Posted by OStewarts
I think you can have them "guesstimate" what they could get you if you tell them what your scores are. You should also call Astoria and Bethpage Federal Credit and ask them as well. We found that they had the best rates and lowest closing costs. Best of all, we did not have to pay the brokers fee and we saved a TON!
ITA with bethpage!! all you pay for with them is the aparsial, thats it!
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| Posted 10/28/09 11:21 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Comparing Rate with different Mortgage Brokers...
Any reputable broker/bank can provide a good faith estimate and give you a rate quote without running your credit.
If your credit is above 750, you are well in the clear to get their best rates so no credit check should be required to get a rate quote from them.
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| Posted 10/28/09 12:29 PM |
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OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
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Re: Comparing Rate with different Mortgage Brokers...
Posted by HeatherRose
Posted by OStewarts
I think you can have them "guesstimate" what they could get you if you tell them what your scores are. You should also call Astoria and Bethpage Federal Credit and ask them as well. We found that they had the best rates and lowest closing costs. Best of all, we did not have to pay the brokers fee and we saved a TON!
ITA with bethpage!! all you pay for with them is the aparsial, thats it!
and, we closed exactly 30 days from the date that we signed our contract!!! 
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| Posted 10/28/09 1:52 PM |
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