Mortgage Shopping

[Jeff '79]

15 year fixed is what I want

So far from my online search, I've fornd:

NBT Bank 3.125% $458 closing costs no points
Sebonic Financial 3.125% $458 closing costs no points
Wells Fargo 3.5% $2205 closing costs .65 points
BofA 3.625% $1700 closing costs .65 points
Capital One 3,125% $8700 closing costs no points

Why shouldn't I go with a no name bank here?
The first two have the cheapest closing costs and no points.
Whay the huge closing costs with Capital One?
There is a huge disparity in these offerings and I have to sort it out in the next few days, as we accepted an offer on our house and need a new mortgage on the town house that we bought.
Any advice out there?

btw, I was just kidding about Thomas... :shots:

[DAB]

got a 2.99%, 15 year from quicken a few months ago. i have a $750 off coupon for friend/family. writing says off your closing costs.

:DAB:

[Jeff '79]

got a 2.99%, 15 year from quicken a few months ago. i have a $750 off coupon for friend/family. writing says off your closing costs.

:DAB:

What were the closing costs, if you don't mind me asking???

[MrPeabody]

I wouldn't worry about who the company is. Odds are that soon they will sell your mortgage to another company anyway. I think in ten years we are on our third or fourth company.

[island14]

Show her your sock :D

Gotta be worth a few points off.. :Island14:

[DAB]

What were the closing costs, if you don't mind me asking???

if i read the HUD-1 correctly, line 1400, total settlement charges, $7,172.97, borrowed 176k+.

[Jeff '79]

if i read the HUD-1 correctly, line 1400, total settlement charges, $7,172.97, borrowed 176k+.

Wow, that's a lot in closing costs.

[DAB]

origination charges
appraisal
credit report
tax service
flood cert
interest until first payment
title service and title insurance
settlement/closing fee
binder fee
notary
misc.

[Chuck A]

mine is a 15 year with 4.5 % interest
Chase bank

[NDMIKE88]

Do you belong to a credit union?

[VatorMan]

got a 2.99%, 15 year from quicken a few months ago. i have a $750 off coupon for friend/family. writing says off your closing costs.

:DAB:


:iagree:

Do you belong to a credit union?

Quicken was cheaper than my CU. Plus I was refi'd in one week.

[Fastguy]

You aren't getting the whole picture with some of those.
The first one looks suspect.
Average rate I am seeing with my lenders today is 3.125%.
Be careful with no-name internet lenders.
There are people out there who work for free, and they should.
It really depends what you are looking for. Do you want a mortgage professional or an order taker?
I would ask your realtor for a recommendation to someone that knows what they are doing.