Online mortgage companies....

[Scarpozzi]

Anyone know some good ones so I can do a comparison of rates on a conventional 30year fixed mortgage? Thanks.

-Scar

 

[xochi]

i'll be shopping for a new mortgage company myself in the next few weeks.

bump

 

[CPA]

bankrate.com

go to their mortgage section.

 

[Shelly21]

I used Cap Center. (www.capcenter.com)

No closing cost and no fees (there might be a little if you don't live in Virginia).

 

[Yax]

The quotes you get don't mean anything. They're only to give you an idea of the current rates. Rates change daily and you may be quoted one rate, then the broker can give you a totally different rate. Comparison doesn't work.

Also, the higher the lock rate, the more commission the broker makes, but you won't see that portion of the transaction. Its called the Yield Spread Premium.

In short, comparing is just a waste of time.

 

[Scarpozzi]

Originally posted by: cheapbidder01
The quotes you get don't mean anything. They're only to give you an idea of the current rates. Rates change daily and you may be quoted one rate, then the broker can give you a totally different rate. Comparison doesn't work.

Also, the higher the lock rate, the more commission the broker makes, but you won't see that portion of the transaction. Its called the Yield Spread Premium.

In short, comparing is just a waste of time.

It isn't a waste of time when I call all of them in the same day. I made an offer on a house and I'm just waiting to hear if it's a go or not. I've already been quoted 6.38% on a 30year fixed with up to 6% of the sale price on closing by the seller.... I'm just trying to beat that by 1% or minimize the closing costs in case my offer doesn't fly.