Counterpoint: work with one person who you trust - Saab General Bulletin Board - Saabnet.com
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I have been working with the same mortgage broker through multiple refinancings. Three years ago, I refinanced and got 0.25% better rate than my brother - same week, similar terms. Last year, I was exploring refinancing and I worked with the same broker again; he advised me to wait a bit ("rates are going to dip, just wait"), but meanwhile put my file together (credit reports, pay stubs, appraisal, etc.) so he could jump on a deal when it would pop up during the subsequent few weeks. One day he called up, told me that "today is the day" and managed to hit close to the all-time low rate of 2.75% on a 30-year 5/1 ARM - no costs other than the appraisal.
There is some value to having someone working on your behalf in return for repeat business; I don't believe that random brokers would have tried this hard for my business.
posted by 108.71.134...
Posts in this Thread:
- Mortgage Advice, SS, Thu, 26 Jan 2012 10:01:03
- Whatever you do, work with more than one person, vvk, Fri, 27 Jan 2012 08:51:52
- Too little info, nwas, Fri, 27 Jan 2012 08:18:37
- I'm a mortgage loan originator, Tim, Thu, 26 Jan 2012 18:06:26
- just reread this..., James, Thu, 26 Jan 2012 12:16:05
- Re: Mortgage Advice, vvack0matic , Thu, 26 Jan 2012 11:42:12
- Re: Mortgage Advice, Acc, Thu, 26 Jan 2012 11:01:09
- How long do you plan to live there?, Bill Homer , Thu, 26 Jan 2012 10:56:12
- Re: Mortgage Advice, James, Thu, 26 Jan 2012 10:34:59
- Re: Mortgage Advice, Gene N , Thu, 26 Jan 2012 10:18:54
- Re: Mortgage Advice, SWEDECAR , Thu, 26 Jan 2012 10:17:33
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