View Full Version : Bank loan or other
citizen legal
May 4, 2009, 06:02 AM
Is it better to get a mortgage loan directly through the bank or should I go through a real estate company?
LisaB4657
May 4, 2009, 06:22 AM
If you have good credit then I've found that it's better to get a mortgage loan from a bank. Mortgage bankers and mortgage brokers are great if your credit isn't wonderful since they have many different programs to choose from. Banks are usually more conservative with their lending policies but they tend to have less fees and their rates are competitive.
ballengerb1
May 4, 2009, 06:54 AM
A real estate cpmpany does not do loans directly and only refer you to a lender. They sometimes get incentives to pick one company over another. I would start with the bank and then compare it with other lenders. In my case Chase offered the same rate of 4.5% but had about $900 less in fees.