Good banks for first time home buyer?

[frugalfedmom]

My sister is looking into possibly buying her first home and is looking for potential banks for mortgages. She's already looked into her credit union and a couple banks recommended by the real estate agent. Anyone have any recommendations for other specific banks she can try especially for first time buyers with a low down payment? She's still debating the rent vs. buy question, but if the payments end up being similar for a condo under $100k, might be better to buy. Thanks for the help!

[Gimesalot]

We went with a broker instead of a bank.  It was a lot easier in our case.  If she is a first time home buyer, I suggest she look into federal and local programs that provide assistance (home possible, fha, etc.).  On the websites, they always have a search for participating lenders.  She should look through the list and find one that might be able to help her out.

[waffle]

Chances are that her loan will be sold to a different bank shortly after she closes on the house. Besides making sure that you are dealing with some one reputable the bank doesn't matter a whole lot. Get quotes from many different banks and just go with the one that offers the best terms. I'm perfectly willing to jump through some hoops at a bank with poor customer service to get the loan with a lower interest rate that will save me thousand over the course of the loan.