#ChickChat Episode 61- Where Should You Go to Get Your Home Loan?
A lot of my clients are asking, "Should I go to one of my big banks, my Bank of America, my Chase, my SunTrust, or should I go with one of my realtors, preferred lenders to get my home loan?"
So, you would hire a mortgage broker who has a bunch of lenders under them. And what they do is, you hire them and then they can shop all of the rates, all of the fees for you and get you the best deal. This is amazing for people who have lower credit, people who are 1099 employees. And they're usually more knowledgeable and they have more access to different loan programs that can work best for you. They're also notoriously easier to get ahold of than the Bank of America, Chase, SunTrust, big banks, which is really, really important because, as a buyer, you're probably looking at homes after 5:00 PM, when those big bank companies have already left for the day, or on weekends, when they're not in the office.
But on the other hand, getting a mortgage from a big bank is not always a bad idea. However, they are only one lender, so they're not super flexible when it comes to rates, loan programs, or fees. Big banks won't be as flexible with people with lower credit scores. They won't be super flexible on the loan programs or the fees that they offer. Contact me to get connected with our preferred lender and get you the best loan for your situation.
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