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What can I do to get more (or better) quotes for my loan request ZR-XPRDPVJ

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November 27 2012 - Aberdeen
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Realistically, most lenders will have very similar rates and fees due to the changes in how mortgage loan officers are paid. Because of this, there won't be a huge difference between loan quotes from one lender to another unless one is just priced way to high because of what his company is making on the loan or one is way to low because they are quoting something that they may not be able to deliver.
Additionally, a rate quote is not exactly accurate unless the lender knows a lot going into the quote. For instance, the loan to value, the purpose, the debt ratio, if there is mortgage insurance (if so, what kind), is it government or conventional, manufactured or stick built and lastly, what is the mortgage credit report score.
Remember a mortgage credit report score can be significantly different than a consumer direct score.
My best advice is to interview the loan officers and find one that you can work with and go forward. It is more important to be able to close a loan successfully than to get a lower rate that isn't delivered.
Good luck!
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November 27 2012
 
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What can I do to get more (or better) quotes for my loan request ZR-XPRDPVJ
Profile picture for Fred Chamberlin
Latest answer by Fred Chamberlin
November 27 2012 | 1 answers
  • Asked by user2146595
  • In Moving
  • November 27 2012
Mortgage Rates
 
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