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Mortgages: Amerisave

V

Veramocor

Senior member
Has anyone tried using a service such as amerisave as a mortgage broker? Amerisave is giving me the best combination of rates/closing costs. However it is an online broker and I assume that can cause some problems.

What have been peoples experiences with Amerisave? What about online mortgage brokers in general?

Best Regards,

Tony C
 
The only problem I have seen with them is that they decimate your credit rating because they tend to run it multiple times, and the more your credit score is run, it goes down slightly.
 
Originally posted by: pulsedrive
The only problem I have seen with them is that they decimate your credit rating because they tend to run it multiple times, and the more your credit score is run, it goes down slightly.
Click to expand...
That's a huge myth. There is a range of times it can be pulled without affecting your credit.
 
Originally posted by: edro
Originally posted by: pulsedrive
The only problem I have seen with them is that they decimate your credit rating because they tend to run it multiple times, and the more your credit score is run, it goes down slightly.
Click to expand...
That's a huge myth. There is a range of times it can be pulled without affecting your credit.
Click to expand...


All credit pulls from the same industry within a 14day time period count as one pull. Even if there were dozens.
 
Online and over the phone/mail brokers are a pain. They will get you the money in the end. I just don't like the service vs local broker. If you are in So. Cal, I can recommend you a broker that will hold your hand through the whole transaction.
 
We used Lending Tree (I think) a few years ago. I loved it - they sent out a representative to our house to sign the papers which was great. Of course they immediately sold the loan but most do.
 
Never heard of them. Watch out for application fees, excessive origination / lender /discount fees (more than 1%,unless youre trying to buy down the rate), changing terms at closing on the Note and then demand you sign corrections at a higher rate or theyll call the loan due, less than 3 year business history, bbb complaints, etc.

Anyone can be a broker so beware.

AND lastly but not leastly if youre signing an ARM right now let me know the terms. Its likely you wont want it when you look at all your options.
 
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