Any recommedations on a bank which will give a good rate for home mortgage ? With excellent FICO?

Posted on April 29, 2009
Filed Under Home Mortgage |

Any recommendations as what banks are good in giving a good rates in Home Mortgages ?

- i have excellent fico
- 25% down payment
- no debts currently

You can call around to compare interest rates and discount points but you may be in a position to get an even better deal in person. You can be prequalified at several lenders to find out which lender offers the best interest rate and discount points. Also ask for a Good Faith Estimate, that will give you the information you need on discount points, origination fees and what I call junk fees like underwriting and processing fees. They should not charge you for taking your loan. You may find all the lenders have these fees, try to talk them out of having to pay them at least. The origination fee is typically 1% of the loan amount. Discount fees are what you pay to get a lower interest rate. It varies from lender to lender. You could probably qualify for what is called 'par', which means zero points. As you can see there are lots of things to consider in getting the best deal, the good news is that you seem to be in excellent shape to wheel and deal. Good luck

Comments

2 Responses to “Any recommedations on a bank which will give a good rate for home mortgage ? With excellent FICO?”

  1. Rusty on April 30th, 2009 2:50 am

    You can call around to compare interest rates and discount points but you may be in a position to get an even better deal in person. You can be prequalified at several lenders to find out which lender offers the best interest rate and discount points. Also ask for a Good Faith Estimate, that will give you the information you need on discount points, origination fees and what I call junk fees like underwriting and processing fees. They should not charge you for taking your loan. You may find all the lenders have these fees, try to talk them out of having to pay them at least. The origination fee is typically 1% of the loan amount. Discount fees are what you pay to get a lower interest rate. It varies from lender to lender. You could probably qualify for what is called 'par', which means zero points. As you can see there are lots of things to consider in getting the best deal, the good news is that you seem to be in excellent shape to wheel and deal. Good luck
    References :

  2. AR.SAM on April 30th, 2009 3:28 am

    Recommendations are not necessary: if you are a good and strong customer, you can bargain and get more
    References :

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