The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: lefty on October 11, 2018, 02:59:42 PM
-
Its called Lending Corner
https://www.lendingcorner.com/
They quoted me the lowest mortgage rate and closing costs so far.
Have any of you used them before?
-
Its called Lending Corner
https://www.lendingcorner.com/
They quoted me the lowest mortgage rate and closing costs so far.
Have any of you used them before?
No matter what rates are advertised, just be aware that you are not just paying for a low rate. You are paying for the customer service and logistical aspects of the loan.
It is not fun working with a bank where the loan officer is in one office and the underwriter is halfway across the country. It also isn't fun working with a loan officer that doesn't know what they're doing.
Just keep that in mind. I advise all new homebuyers to interview mortgage companies and use some sort of vetting process.
Also, make sure the loan officer is a licensed mortgage broker with whatever state you're buying. It's a no-brainer, but with all the scams going around these days you can never be too careful.
-
I've never heard of that lender, but that doesn't mean anything.
If you're shopping rates, make sure that you are also comparing the APR. To me a low interest rate is meaningless (as it's just one number,) unless I know what the APR is. You can always look at sites like Bankrate to compare APR's.
-
Never heard of them. I would want to get a copy of their loan estimate form to see what their loan origination fees and such are. I would get this from a few lenders to compare Apples to apples. Interest rates by themselves are meaningless as it is the other costs that can vary. By law, they have to provide this within 3 days of receiving your application.
It looks like they only do the loan origination, so I would ask them who handles their servicing after the loan closes.