Who has the best online mortgage programs for purchases?
by Felixx on Sunday, June 13th, 2010 | 5 Comments
I am looking to buy a home and would like to view interest rates and good faith estimates online while avoiding salespeople. What is the best source for this?
Avoid the circling sharks above, they are looking to con you out of your life, identity, everything. You are risking a lot online.
Wells Fargo is the best program out there, very reputable.
honestly there is so much that goes into calculating a mortgage rate and costs that simply asking to see an interest rate and a cost is extremely harmful to your search. Your rate and costs combo is affected by the loan to value, the credit (and not just the score), the type of financing (rate and term, purchase, cash out, settlement...etc) mortgage lates and consument lates showing on a credit report, the escrow account, the lock or float term, and even the debt to income ratio with some lenders. Then the underwiting engine used to qualify, FHA, Fannie Mae, Freddie Mac, or in house lending. All of these can cause a difference in rates and fees. Your looking for a simple answer to complex questions. This is why some people are surprised when they go to the closing table by different numbers. Mortgage programs are highly variable products. A good mortgage professional will work with you to tell you where you can look to save on rate or cost. Those are the things you cant find on your own online.
I am shopping for a new home myself. I'm hoping to find a steal with there being so many foreclosures out there.
I found a company online called Close Your Own Loan.com. They offer a ton of information and allow you to get rate quotes and a good faith online. I just got pre-approved thru them and their rates seem to be pretty good.
Is this what you were looking for?
. Countrywide.com has all rates updated daily. wellsfargo.com probably has them lendingtree.com has them
This is one of the few areas where i do not avoid salespeople. ONe lender found me a loan at a credit union that was better than anything else in town. I had to pay $5 to join the credit union. I would never have found it online.
try this http://www.interest.com/
you can choose what loan program you like