Where can I get the best deal on a home mortgage?

Question:

My income is not large, but have excellent credit and will pay 20% down. I've been "pre-approved" but am looking for the best deal, and was wondering if anyone had an amazing referral to somplace I've missed. I've looked into Ditech, eloan, Wells Fargo, and a local broker, and will contact ING Direct too. Any other suggestions of banks, online lenders, etc. would be marvelous, though preferably not individual brokers at this time.

I'm just trying to get the best deal with the few pennies I earn, so I'll be financially happy when I move into my new home.

Thanks!

Please don't go to those who will inevitably show up here spamming for business, or send you a direct solicitation.

Next, compare the entire package. Some lenders tangle an attractive interest rate, only to rack up thousands of extra dollars in closings costs, transaction fees, appraisal fees, late fees, pre-payment penalties and such.

Being an informed borrower is the best way to avoid mortgage regret.

It all depends on wht you mean by "best deal". Do you mean best interest rate, lowest closing costs, best service, most ethical loan officer?

The best deal for you may not be the best deal for someone else and vice versa.

Quit shopping for the wrong thing and find an individual with whom you can develop a lifelong home ownership relationship, someone who will look our for your best interests, educate you on all of your options so that you can choose the one that best meets your needs, and helps you achieve your goals.

And, for heaven's sake, be wise enough to stay away from the loan shark feeding frenzy questions like your's draw.

Yeah it sounds like you have most of the bases covered. Shopping around never hurts, the bond has been dropping recently, but even still on a 30 year fixed you are not going to get better than 6.375 without buying down the rate. As a broker my advice is to check out wachovia, hsbc, indymac and homecomings financial.

Go with a well known lender. Right now there are a lot of small companies that want your business and will do anything possible to get it but they are not who you want. They will end up putting you in arms with flexible rates that will increase greatly and cause a lot of headache or even worse, foreclosure. Wells Fargo is a good mortgage lender. Check the big banks. Rates may be a little higher but at least they aren't going to screw you over. Make sure you are getting a fixed rate! No arms!

Please be careful when looking for a best deal...I would recommend you go with a name that is recognized. I had a friend that caught up in a scam when they re-mortgaged their home to get better rates - the company said they would pay off their old home loan, but ended up just taking their money and disappearing. They ended up getting foreclosed on and had to move out of their lovely home, dealt with tons of court costs and court dates, and in the end got nothing. It was a horrible experience and I hope that you find a reputable company.

I found the best options here. Good luck!
http://all-mortgage-calculators.blogspot...

i go through my local credit union...

Where can I get the best deal on a home mortgage?

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