Anybody use an online wholesale mortgage company?

[Squisher]

I was browsing Bankrate.com looking at 30yr. fixed rate mortgages and saw a large disparity between the bank I got pre-approved through and some other lenders.

I figure that the lenders that are quoting low rates at 0 points are probably going to sock it to you with exorbitant closing costs.

So, I thought I would ask if anybody had used a lender that's highly competitive and didn't try to make it up in closing costs?



BTW - rates on Bankrate at 0 points go from 5.125% to 5.875% which would mean a difference of $84/mo. to me.

 

[vi edit]

/me runs to the wall and flips on the "Vic Signal" switch.

 

[Metron]

They have to make money somehow, be it in Points, Closing Costs, or Fees... pick your poison. Non-profit and competitive aren't usually compatible characteristics of a successful mortage broker.

That being said, check out CountryWide

At least they spell out specifically what all the points and fees (their own and third party) will be.

Good luck

 

[Squisher]

evening bump