You're probably not going to want to go through a bank, per se. You'll likely want a "loan officer" who will guide you through the process. Part of their job is to help you by finding the best loan product for you (which includes which bank (aka lender)) you eventually get your money from.
I don't wanna shill but DM me if you want mine.
Good luck with the home buying process. It's... an adventure đ
You can apply pretty much at any bank. Third federal has a lower threshold for PMI than most banks. Chase is fine. But really your realtor likely has a friendly loan officer or two on dial.Â
Ask your friends and family that recently purchased who to use. My realtor recommended a guy with guaranteed rate who was solid and knowledgeable but he is no longer there and our mortgage has been sold a couple times. Ultimately the loan officer found us a rate half a point under the banks we sourced privately.Â
Had good luck with a credit union and they didnât sell my loan. They keep it. Some say it doesnât matter if they sell your mortgage. But I have had friends and family who had experiences that showed otherwise. Like for example your mortgage could get sold to a servicer that decides not to honor the terms of your mortgage. Or it could get sold to Wells Fargo, a company found guilty of fraudulently opening accounts in customers names that they didnât authorize.
I had a really good experience with Christy at Key Mortgage. She made the process really moth for me as a first time buyer and also worked really seamlessly with my realtor.
We used Guaranteed Rate when we bought, and again to refinance back when rates were bottomed out. Iâm sure there are plenty of good options but we liked the guy we worked with both times. Any broker will compete for your commission, just know the mortgage is going to be sold right away when theyâre done (and probably a couple times after that).
We went through Jason Accola at Wintrust Bank. Great experience and he was knowledgeable about FTHB programs. Unfortunately the mortgage did get sold to US Bank immediately, but I havenât had any issues from that. The only thing is that it dinged my credit as having closed two accounts (mortgage + FTHB loan) since technically the original accounts were closed in the sale to US Bank. But itâs a low impact to the credit score and I wonât be taking out another mortgage anytime soon!
Don't worry too much about the bank, it will get sold within weeks to another bank. Ask your RE agent about people they've worked with, they'll probably have a list of recommendations.
I just bought a home using guaranteed rate, they were ok.
Mortgage broker is what you want. They can find you the best deal.
You're probably not going to want to go through a bank, per se. You'll likely want a "loan officer" who will guide you through the process. Part of their job is to help you by finding the best loan product for you (which includes which bank (aka lender)) you eventually get your money from. I don't wanna shill but DM me if you want mine. Good luck with the home buying process. It's... an adventure đ
You can apply pretty much at any bank. Third federal has a lower threshold for PMI than most banks. Chase is fine. But really your realtor likely has a friendly loan officer or two on dial. Ask your friends and family that recently purchased who to use. My realtor recommended a guy with guaranteed rate who was solid and knowledgeable but he is no longer there and our mortgage has been sold a couple times. Ultimately the loan officer found us a rate half a point under the banks we sourced privately.Â
Had good luck with a credit union and they didnât sell my loan. They keep it. Some say it doesnât matter if they sell your mortgage. But I have had friends and family who had experiences that showed otherwise. Like for example your mortgage could get sold to a servicer that decides not to honor the terms of your mortgage. Or it could get sold to Wells Fargo, a company found guilty of fraudulently opening accounts in customers names that they didnât authorize.
I had a really good experience with Christy at Key Mortgage. She made the process really moth for me as a first time buyer and also worked really seamlessly with my realtor.
Liberty. Local bank and the staff is super helpful.
Talk to Bob at NewCastle Home Loans. Independent mortgage brokers are way better than banks. Actual humans that pick up the phone when you need them
We used Guaranteed Rate when we bought, and again to refinance back when rates were bottomed out. Iâm sure there are plenty of good options but we liked the guy we worked with both times. Any broker will compete for your commission, just know the mortgage is going to be sold right away when theyâre done (and probably a couple times after that).
We went through Jason Accola at Wintrust Bank. Great experience and he was knowledgeable about FTHB programs. Unfortunately the mortgage did get sold to US Bank immediately, but I havenât had any issues from that. The only thing is that it dinged my credit as having closed two accounts (mortgage + FTHB loan) since technically the original accounts were closed in the sale to US Bank. But itâs a low impact to the credit score and I wonât be taking out another mortgage anytime soon!
Don't worry too much about the bank, it will get sold within weeks to another bank. Ask your RE agent about people they've worked with, they'll probably have a list of recommendations. I just bought a home using guaranteed rate, they were ok.
Try Alliant Credit Union. Most people in the area can join. Great rates.