- 5 years ago
- Wedding: May 2013
Deciding on our financing has been hands down the most frustrating part of home buying so far! First, we spoke with the broker our realtor referred us to. She was like a shark. Hard, high pressure sales tactics and overall I was very put off by her. She constantly insisted she had the best rates, couldn’t be beat, etc. So we decided to shop around.
I really wanted to go with the bank I was a member of, but they were a 1/4% higher than the broker was quoting with higher closing costs too (which doesn’t seem like much but over the life of the loan, it’s a lot!). Still, I really like the guy I was communicating with, he was nice, friendly, and straight talk. At no point was he trying to sell me on his services.
Darling Husband was adament about preferring the broker and it’s just been a nightmare since. I’m probably unintentionally making it difficult because I’m stubborn and didn’t want to go with her, but we have no idea what the rate will be (we’re floating instead of locking in), I have to miss two hours of work tomorrow to fill out the application because doing it through email was ‘just not possible’ (Neither of the banks I spoke with had a problem with it).
Lastly, because his townhouse had a buyer that backed out, we decided I’d apply alone. Well, next thing I know, he spoke with her and she decided we’d still apply together and even though he now has a buyer again, she’s still listing the property as not sold. How would we even get approved with a current mortgage, I can’t imagine our debt to income ratio would help (or if we would get approved, isn’t the rate going to be higher?)
I don’t know if it’s just me being stubborn based on my initial impressions of her, or if my gut instincts to not go with her were correct, but logically it didn’t make sense to pay more each month just because I liked someone else better? Sorry for the rant, I just had to get it out of my system!
So bees, did you work directly with your bank or did you use a broker? How was the experiencE?