Profile picture for BIGBOSS7083

mortgage co vs regular bank?

whats the benefit, if any, going thru a mortgage co or lets say wachovia bank for va loans?
  • January 22 2009 - Irvington
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Answers (6)

Profile picture for Rob Cochems
yes
  • January 23 2009
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Profile picture for BIGBOSS7083
good info guys......so its okay to have 3 lenders pull my credit simultaniously without hurting my score?
  • January 23 2009
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1. VA loans do not vary between lenders and brokers...VA is VA!
2. Not all banks are the same...Some banks also act as brokers and correspondent lenders.

The difference comes down to the individual you are dealing wth not so much who they work for.

Jeri's advice is dead on!  Compare your bottom line what people call fees is really moot...what matters is how much money is leavng your pocket in the form of cash or equity...

  • January 23 2009
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Compare rates, then get good faith estimates from lenders that you feel you'd like to work with.  With that in hand, you can compare the bottom line to see which loan is the better deal.
You might get a better interest rate quote from one lender, only to pay more "up front" to actually get that loan. 

  • January 22 2009
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Profile picture for just lou
Ughh. I was typing to fast. That should be "your options", not "our option".


  • January 22 2009
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Profile picture for just lou
If you deal with a bank, our option are limited to what the bank offers. If you deal with a Mortgage Broker, he usually deals with many different lenders, and you'll have many more options. Of course fees vary with each.
  • January 22 2009
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