Author Topic: Shopping for a mortgage  (Read 3331 times)


  • Stubble
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Shopping for a mortgage
« on: June 05, 2012, 11:45:35 AM »
Thanks to some good advice from mustachians, I'm looking into a mortgage refi. I'm talking with my current lender, but I thought I'd see if anyone has good advice for shopping for a mortgage or if there are any mustachian lenders out there. Google searches thus far all trip my "too good to be true" alarm.


  • Handlebar Stache
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  • Location: Metro Boston
Re: Shopping for a mortgage
« Reply #1 on: June 05, 2012, 11:59:19 AM »
I'm planning on refinancing this evening. Aim Loan looks pretty good, especially if you have less than 75% LTV. You could also take a look here. My too-good-to-be-true radar is on full alert as well, but AJ had a good experience with AIM.


  • Bristles
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    • SawyerPF
Re: Shopping for a mortgage
« Reply #2 on: June 05, 2012, 12:37:06 PM »
We refinanced with ING Direct a couple years ago. Everything was online/phone, the rates were good, and the fees were low.


  • Bristles
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Re: Shopping for a mortgage
« Reply #3 on: June 05, 2012, 01:20:24 PM »
I have refinancied here

When you look at his fees just note they are only lender fees. You still have to pay for other fees appraisal etc. If you add about .25% to interest rate with lowest fee that will be about would he could do for a close to no cost loan.

I have also used these guys

I like their customer service better but their rates arent as good.

Check your local credit union they sometimes have good rates. Good luck.


  • Handlebar Stache
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Re: Shopping for a mortgage
« Reply #4 on: June 05, 2012, 01:37:47 PM »
If it is just refinance then pretty much any of the companies will do, just look for the ones with lowest fees/rate.  If it were for a purchase or other situation that is time/execution sensitive then I would be far more selective. 

Also if you are in the camp of paying off your mortgage as soon as possible (<7years) it is worthwhile to blend the costs into the rate (NOT THE MORTGAGE BALANCE) - it is reverse points.  In this situation you would pay a bit higher interest rate but if you paid off the house prior to the calculated breakeven point the lender eats the cost.  I refinanced my prior house three times in the course of two years and paid almost no costs (I don't count tax escrow as a cost as that is your money).


  • 5 O'Clock Shadow
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Re: Shopping for a mortgage
« Reply #5 on: June 06, 2012, 03:47:34 PM »
We have had very good experiences with Provident Funding: We used them for a purchase and again for a refi.

They're very rigorous in terms of verifying your income, savings, and other documentation. However, in return, you get a reputable company with rates that are consistently the lowest around. If you have your financial ducks in a row, with no funny business, they're hard to beat.