Post # 1
We’ve been going back and forth on buying a house. We met with our bank and then another bank at the advice of a friend. Then on a whim we met with a lendor from first option mortgage. Everything seemed the same except for the rates being lower, down payment requirements being lower blah blah blah…lower. I hear such negative things about them from random sources and I’ve read some bad reviews. Honestly after our meeting FH was ready to use them to buy a house. I was more skeptical.
Anyone have real life experience with them?
Post # 3
I’m not sure how First Option Mortgage is different than any other mortgage broker. But, I would highly recommend going through an independent mortgage broker rather than directly with a bank. Brokers usually have access to many different mortgage options rather than a bank that is locked into their limited selection. You often get lower rates and closing costs from brokers as well.
Post # 4
Hmm I’ve never heard of them before. I wonder why they have lower amounts for a downpayment than other banks though.
Post # 5
I agree- we are using Guaranteed Rate & so far, so good!
Post # 6
We are using Quicken Loans, and I highly recommend. They have been really great helping us navigate this crazy world of morgages
Post # 7
Geez. I clearly need to do more research! I’ve been told that its better to go through my bank because I already have a relationship with them. Thanks for the tips!
Post # 8
@MrsPinkPeony: It doesn’t hurt to try a lot of different places. If you shop for the loan within a small window of time, your credit score isn’t affected by multiple lenders looking at it.