mortgage company

We are in the process of looking for a mortgage company....can anyone recommend one?

ETA: I'd also like to know the name of the person you used!!

Also, are there any essential questions I should be asking them? (what is your rate, can you provide me with a good faith estimate.....anything else?)

TIA! This is sooo overwhelming!!

Message edited 8/8/2014 2:28:10 PM.

Re: mortgage company

We used G&M Wolkenberg and were very happy with them. Rick made the process super easy and quick.

http://www.wolkenberg.com/

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i used Justin Schiatta and highly recommend him. website

Re: mortgage company

I always recommend Steve Simpson at U.S. Mortgage Corporation (based in Melville, but Steve works out of the Levittown office). He's very knowledgeable and experienced, and he truly cares about the clients' needs. He is extremely honest, and takes the time to personally consult with his clients to make sure they understand the process.

I have recommended many clients to him, as well as my own brother-in-law and sister-in-law.

U.S. Mortgage Corporation is a direct lender -- it's a specialty mortgage bank, not a large commercial bank.

His contact info is: (516) 408-4488 (office); (516) 384-8368 (cell); [email protected].

I also liked working with NYCGirls' lender - G&M Wolkenberg.

As far as questions to ask:

Yes, you want to ask about rates - but make sure what you are getting quoted is the full cost of the loan. Make sure they are not adding points in on top of the rate (a lot of larger banks do that as a matter of course), and a good thing to do is compare not only rates, but APR (APR will give you a sense of the total cost of the loan - rate, closing costs, etc.). So sometimes it's worth it to go with a slightly higher rate if the APR is lower.

Also, make sure closing costs quoted are accurate - I've had clients get quoted closing costs that seemed VERY low, only to learn that was only bank fees and not any of the prepayments into escrow that would also be paid at closing. So you need to make sure you are comparing apples to apples.

I would ask about their loan processing time. U.S. Mortgage can close loans in less than 30 days of going to contract. Some larger banks and credit unions (which tend to be staffed more leanly) will take much longer. Customer service is important.

I would also look for a loan officer who will fully counsel you through the process - - what type of loan is best for you, what you should/shouldn't do financially from this point forward, how much you can expect your monthly payment to be (if you will be paying pmi, an online mortgage calculator won't tell you the full picture), what taxes are being assumed in your preapproval amount, etc. Someone who takes your bare bones info and issues you a preapproval letter with no further discussion may be assuming things that you aren't aware of or that aren't most advantageous to you. Doing the research upfront will prevent SO much stress and hassle later! That's basically my real estate philosophy. You want to be prepared and well-versed in every aspect of your purchase ahead of time, but especially the financing.

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I just closed a week ago and went through Rob Morandi at Continental Home Loans...I actually just posted a review. He was AMAZING. We had our commitment letter less than 3 weeks after we submitted our application. He was so patient, helpful and honest. I'm a huge worrier and he put me at ease (no easy feat). Highly, highly recommend!

mortgage company

THANK YOU!!! I am going to look into these places on Monday :) :)

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Re: mortgage company

Re: mortgage company