Do you OWN your home? Question for you....?

Question

If you don't mind me asking....

What company do you go through for your mortgage? Are/were you satisfied with them? Do you recommend any companies?

We are looking to buy our first house soon here!...Live in Minnesota...have no idea who to go through.

Answer 1

Naa dont hav any i will.... I am livin with my parents hmm oneday dad may giv this house to me!!

Answer 2

We own our home.  But we were very lucky, we inherited it.

Answer 3

I went through GE Capital, but all lenders are the same and can potentially rip you off.

Here's what you tell the loan officer at any bank you are considering to use to do your mortgage. Print the following exactly as follows on a piece of paper and ask your loan officer to sign it while his notary notarizes it. If he doesn't want to do it, or says his bank won't let him, tell him goodbye and find a loan officer who will.

Print the following and have the loan officer sign...

1) I agree to only give you a par interest rate.

2) I agree that my only commission will be on points charged up front as part of the loan origination fee.

3) Since I am charging a par interest rate, I agree that there will be no rebate paid to me or my broker/manager by the lender.

4) I agree that there will be no margins charged at any time during the life of the loan.

5) I agree that there will be no prepayment penalty.

6) I agree that this loan will not be an interest only loan or negative amortization loan.

7) I agree that this loan is not an adjustable.

8) I agree not to ask for any out of pocket expenses other than an appraisal fee before closing. This includes no credit report fee.  

9) I acknowledge that the escrow company will not be one of my choosing or this bank's recommendation.

10) I agree to give to you a copy of all three credit bureau reports (Experian, Equifax and Trans Union), along with a Good Faith Estimate before loan processing begins.

Answer 4

I'm on my second home and like my 5th mortgage, as we refinanced several times on each home to follow the rates down.  My experience is that almost all mortgage companies stink in one way or another.  

Take a home-buying course immediately!  Well worth your time, and they are usually free.

I would say A) try to find a lender who is local to your area and not owned by a giant corporation from Delaware or California or where ever.  and B) find a lender who will KEEP YOUR LOAN and not sell it.  If you can find a local lender who will keep your loan, you have found something truly wonderful and rare.

Also, do your own research, talk to several lenders, and get hypothetical loan numbers from them, that include origination fees, paperwork fees, the cost of buying a lower interest rate, etc.  Many times a lower rate hides unreasonable closing costs.  You want to be sure that you compare several lenders, and that you compare apples with apples.

And don't necessarily use whoever your Realtor suggests.  Realtors, mortgage brokers, mortgage lenders, etc., are usually all friends and may have "arrangements" that are not in your best interest.

Good luck!

--DM

Answer 5

Ask  for  pre-qualification  letters  ( they  are  free )  from  

several  sources  to  find  the  best   rate  and  points  deals .

Ask  at  the  bank  where  your  checking  is ,

your  credit  union  and  some  brokerages  have  mortgage  services  too  ( Schwab   has ) .

{ Schwab  was  very  good }

and  check   bankrate  (  enter  your  state  etc )

http://www.bankrate.com/brm/rate/mtg_hom...

good  luck

>

Answer 6

yes i loved the company i did business with we had cameron brown and then security service federal credit union and they were both good. i am not sure what you have up there but you can find one they are good oens generally i have not seen one that isn't good i have gotten several houses and different loan companies and re financed house several times. i know you'll be ok and if they sell your mortgage to another one they will write letter and let you know just dont' go above your means and you will be fine.

Answer 7

me and my boyfriend just bought our first home from Keystone (they finance through Flagstar.) we got a really good deal, a nice home (exactly what we want), great service.

Keystone is a pretty big company so i wouldn't be surprise if they are in Minnesota.

good luck.