| Posted By |
Message |
SweetCin
My green-eyed boy
Member since 5/05 13499 total posts
Name:
Cin
|
Best Banks to Get Mortgage Through?
Ladies what are the best banks to get your mortgage though? Why? Thx.
|
Posted 7/23/07 10:49 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: Best Banks to Get Mortgage Through?
HSBC, for many reasons. Mainly because they are a stable company, 120 day pre-approvals (with 120 days lock-in mor. rate).
|
| Posted 7/23/07 10:50 AM |
| |
|
2Pisces
Life Coach
Member since 2/06 3337 total posts
Name:
Paige
|
Re: Best Banks to Get Mortgage Through?
We were recommended to use Wamu. We had a great experience. We were first-time home buyers and they were VERY helpful. At the time we got a great rate. We are leased with them. 
Good Luck.
|
| Posted 7/23/07 11:08 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Best Banks to Get Mortgage Through?
there are many great banks. I would shop it with a few banks to see which one you like best and offers you the structure you need.
Some banks offer lower rates, some lower fees, but if you stick with some of the big ones and you have gotten your mortgage education you should be fine.
Banks that I like:
Chase
Wells Fargo
Citibank
Wamu
ABN AMRO
Keep in mind that even banks can sell off mortgages and you may start with a mortgage from Chase and end up with a mortgage from someone else down the road. It's very common to sell off mortgages. If you start with a mortgage that you understand and can live with that shouldn't matter.
|
| Posted 7/23/07 11:10 AM |
| |
|
DancinBarefoot
06ers Rock!!
Member since 1/07 9534 total posts
Name:
The One My Mother Gave Me ;-)
|
Re: Best Banks to Get Mortgage Through?
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
|
| Posted 7/23/07 12:26 PM |
| |
|
njbound07
LIF Adolescent
Member since 4/07 799 total posts
Name:
pimpette
|
Re: Best Banks to Get Mortgage Through?
Posted by DancinBarefoot
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
but they're rates are much higher than other banks. We looked into them.. but their rates were like 7.1% when all the others were at 6.5%.
The reason why they don't charge you the PMI it's b/c they already own the mortgage co. and they waived the PMI for that reason.. but the catch is the high interest rate.. you see that triple their return by charging 7.1% they recover their PMI 3x over!
|
| Posted 7/23/07 12:32 PM |
| |
|
DancinBarefoot
06ers Rock!!
Member since 1/07 9534 total posts
Name:
The One My Mother Gave Me ;-)
|
Re: Best Banks to Get Mortgage Through?
Posted by christina-and-mike07
Posted by DancinBarefoot
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
but they're rates are much higher than other banks. We looked into them.. but their rates were like 7.1% when all the others were at 6.5%.
The reason why they don't charge you the PMI it's b/c they already own the mortgage co. and they waived the PMI for that reason.. but the catch is the high interest rate.. you see that triple their return by charging 7.1% they recover their PMI 3x over!
Our rate is 6.25%.
|
| Posted 7/23/07 1:51 PM |
| |
|
PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
|
Re: Best Banks to Get Mortgage Through?
Posted by kerrycec03
HSBC, for many reasons. Mainly because they are a stable company, 120 day pre-approvals (with 120 days lock-in mor. rate).
As you know, Cindy, I highly recommend them as well!!
|
| Posted 7/23/07 1:54 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: Best Banks to Get Mortgage Through?
Posted by christina-and-mike07
Posted by DancinBarefoot
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
but they're rates are much higher than other banks. We looked into them.. but their rates were like 7.1% when all the others were at 6.5%.
The reason why they don't charge you the PMI it's b/c they already own the mortgage co. and they waived the PMI for that reason.. but the catch is the high interest rate.. you see that triple their return by charging 7.1% they recover their PMI 3x over!
when I was looking - BOA was the lowest by far!! we did pay closing costs though - that was before they started doing that.
eta: my rate 12/06 was 5.875% no points
Message edited 7/23/2007 2:07:22 PM.
|
| Posted 7/23/07 2:06 PM |
| |
|
njbound07
LIF Adolescent
Member since 4/07 799 total posts
Name:
pimpette
|
Re: Best Banks to Get Mortgage Through?
we checked with them about 2 weeks ago and that was their rate.. we also went on bankrate.com and it showed their rate at 7.1%
|
| Posted 7/23/07 2:50 PM |
| |
|
njbound07
LIF Adolescent
Member since 4/07 799 total posts
Name:
pimpette
|
Re: Best Banks to Get Mortgage Through?
Posted by DancinBarefoot
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
was this the Mortgage Plus program?? b/c that was the program that we inquired for and that's what they told us.
then maybe we need to speak to someone else at BOA.
|
| Posted 7/23/07 3:15 PM |
| |
|
DancinBarefoot
06ers Rock!!
Member since 1/07 9534 total posts
Name:
The One My Mother Gave Me ;-)
|
Re: Best Banks to Get Mortgage Through?
Posted by christina-and-mike07
Posted by DancinBarefoot
Cin we got ours through Bank of America. We got - no application fee, no closing costs, no PMI, w/ a close on time guarantee.
was this the Mortgage Plus program?? b/c that was the program that we inquired for and that's what they told us.
then maybe we need to speak to someone else at BOA.
Yup. Our rate was 6.35 and we got discount down to 6.25%.
|
| Posted 7/23/07 3:37 PM |
| |
|
greenfreak
.
Member since 9/06 11483 total posts
Name:
greenfreak
|
Re: Best Banks to Get Mortgage Through?
When they say no closing costs, they just mean their own costs, right? So you still had to pay non-banking closing fees, right?
I have a call in to this guy at BOA, this is great info to talk to him about.
Thanks ladies.
|
| Posted 7/23/07 3:43 PM |
| |
|
Tracey
***********
Member since 5/05 6297 total posts
Name:
Tracey - brideinapril
|
Re: Best Banks to Get Mortgage Through?
We also used bank of america - after switching last minute from a company that our job deals with.
We were very happy with them.
|
| Posted 7/23/07 5:08 PM |
| |
|
njbound07
LIF Adolescent
Member since 4/07 799 total posts
Name:
pimpette
|
Re: Best Banks to Get Mortgage Through?
ok so I just called BOA & it's the same $hit that I was complaining about! 7.1% for the Mortgage Plus progam. and that's with great credit and a substantial down payment.. weird!
|
| Posted 7/23/07 7:00 PM |
| |
|
charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
|
Re: Best Banks to Get Mortgage Through?
DH works for WaMu and has a specialist you can talk to. He used to do mortgages and is pretty knowledgeable with them. FM me if you would like his #.
|
| Posted 7/23/07 7:54 PM |
| |
|
greenfreak
.
Member since 9/06 11483 total posts
Name:
greenfreak
|
Re: Best Banks to Get Mortgage Through?
Fyi for anyone looking at BOA. I just got a quote for 6.875% with 5% down required, and "State Tax Stamps" for about 1% of the mortgage amount.
Hello... Isn't State Tax Stamps a closing cost?? I didn't realize this when I was on the phone with them but I guess "no" closing costs isn't really true. 
|
| Posted 7/24/07 9:36 AM |
| |
|
ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
|
Re: Best Banks to Get Mortgage Through?
Posted by greenfreak
Fyi for anyone looking at BOA. I just got a quote for 6.875% with 5% down required, and "State Tax Stamps" for about 1% of the mortgage amount.
Hello... Isn't State Tax Stamps a closing cost?? I didn't realize this when I was on the phone with them but I guess "no" closing costs isn't really true.
It is a closing cost but, it falls into the "taxes" category which is listed as an exception.
|
| Posted 7/24/07 10:27 AM |
| |
|
tabrtm
LIF Adult
Member since 10/06 1314 total posts
Name:
|
Re: Best Banks to Get Mortgage Through?
I have Washington Mutual and they are great. I like having a local bank because I can pay my mortgage at the branch. I found them through a mortgage broker. I am looking to buy another house and I will use them again. (WaMu, not the mortgage broker).
|
| Posted 7/24/07 11:19 AM |
| |
|
KrisT
Two Boys for Me!!
Member since 1/07 5213 total posts
Name:
Kristin
|
Re: Best Banks to Get Mortgage Through?
Our mortgage is through CitiMortgage. Because we have private banking through CitiBank, we were able to save some $$ on our closing costs. They also gave us a competitive rate. We have had no problems with them thus far.
|
| Posted 7/24/07 11:29 AM |
| |
|
tann22
LIF Adult
Member since 6/05 2421 total posts
Name:
|
Re: Best Banks to Get Mortgage Through?
We went with Wells Fargo.
|
| Posted 7/24/07 12:10 PM |
| |
|
