Checking different brokers

Guest 0.10 Dollars($)

My real estate agent gave me names of two mortgage brokers with whom he has worked. I worked out some details with one of them. Now will it be a bad idea if I check with some other brokers and get their terms and offers? Not pre-approved yet. Don't want to be rude on the current one. Rolling Eyes

Guest 0.10 Dollars($)

Can't satisfy every one. Need to think of your own. It's never a bad idea.

Samantha · Posted: Mon Mar 06, 2006 4:59 pm Post subject:

Hi jones,

Welcome to Mortgagefit Forums.

It's always wise to check in with different brokers and lenders while you apply for a loan. The rates and terms are different with each one of them and also you may get a varied options.

As far as unfairness with your current broker is concerned, you can't help it. Smile

This involves your money and you can't take it lightly.

A slightest of lower rate may benefit you quite a lot. So, you should hesitate in checking with others. In fact the lenders and brokers know it too that you might verify with some others.

God bless you.

For Mortgagefit,
Samantha

blue · Posted: Mon Mar 06, 2006 5:04 pm Post subject:

You have to take it sportingly. This is business and not a personal matter. This doesn't mean that I don't have faith in anyone of them.

There are many good brokers and how you will come to know if you are not comparing. At least try to get three opinions.

Regards,
Blue

ckalvesmaki · Posted: Tue Mar 07, 2006 7:02 am Post subject:

Keep in mind that rates can change on a daily and even hourly basis.......If you are looking at a conforming loan get all thre quotes on the same day in a matter of a few hours......to be fair.......the next day rates may be lower or they may be higher and then you do not have an apples too apples comparison.......also note that until an application is completed the loan can't be locked and a few days can make a huge difference......A broker has the advantage of taking the loan to a different lender if it's locked one place and then rates go down getting you the lower rate with out charging a float down fee.

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