which banks give the best mortgage rates?

DH and I want to get pre-certified for a mortgage before we begin house hunting.

Which banks give the best mortgage rates?

TIA!

Re: which banks give the best mortgage rates?

Rates change every day. There isn't any particular bank that always has the best rates.

You can find current rates at bankrate.com

Re: which banks give the best mortgage rates?

thank you!

Re: which banks give the best mortgage rates?

I think if you belong to a credit union of any sort, their rates for members tend to be somewhat lower.

Re: which banks give the best mortgage rates?

If you can become a member of TFCU they have a rate that's a little over 6% (depending on the type of mortgage).

Re: which banks give the best mortgage rates?

We found that Sallie Mae had the best rates.

Re: which banks give the best mortgage rates?

thanks!

Re: which banks give the best mortgage rates?

i went through my friend who works at Chase. he gave me the best rate. let me know if you want his info.

Re: which banks give the best mortgage rates?

we got rates from Chase, WaMu, Wells Fargo, Capital One and BoA.

BoA and Chase had the best rate at the time.

there are certain loan programs though, that can get you a good rate at any bank (though they are usually govt sponsored-for lack of a better term- so the loan getting process is longer)

We had a prequal with Chase, but BoA came it at the same rate with no points..I went back to my Chase guy and told him and asked him what he could do for me...so he met it, and locked it.

don't be afraid to shop around and negotiate your rate.

ETA: ALL rates are subject to your credit rating. just b/c a bank HAS the lowest rate doesn't mean you'd automatically qualify for it.

Message edited 8/25/2008 9:51:46 AM.

Re: which banks give the best mortgage rates?

you gals are the best!
i will pass the info on to DH

Re: which banks give the best mortgage rates?

oh, if we want to start looking at houses in january, when should be start the pre-certification process?

Re: which banks give the best mortgage rates?

Hello.
You may need the pre-approval letter presented with your offers. Not sure if that is the norm now, but we needed it for two offers.

Message edited 8/25/2008 2:35:06 PM.

Re: which banks give the best mortgage rates?

Re: which banks give the best mortgage rates?

We got the pre-approval after we started looking LOL You'll need it before you make an offer but you can look w/o it.
Ours expires 90 days after it was issued. But it does say they can extend it.