Real Estate and Home Mortgages - Best way to find mortgage broker?
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kstallbaum
12-07-07, 04:10 PM
What is the best way to find a mortgage broker in your area? I live in the Chicagoland area in Huntley, IL.
Thank you!
Thank you!
michaelshortt
12-07-07, 08:05 PM
Talk to your friends and relatives, they are always your best source.
Family Guy
12-10-07, 10:10 AM
Talk to friends for suggestions, but don't take their word as gospel. Same for advice goes for realtors. Many get illegal kickbacks for referrals, or have some other arrangement that does NOT include looking out for your well being. If consulting someone, you might be best to ask reputable closing attorneys. They'll know who generally has the best fees, who is organized and who has the fewest avoidable errors when it comes to closing.
Best resource over all: phone book and about an hour or so of your time to sit down and make calls--in one sitting. You can only compare rates and fees accurately if you call them all at the same time. Rates change during the day sometimes, so if you do not do this all at one time, you don't have a good perspective on who is the best.
I find that people will often recommend a broker or bank loan officer whether good or not. Why? Well, if they aren't any good, then that friend of yours that used them didn't know any better and didn't do their homework either (or they wouldn't have used them, right?). Ask them "WHY" do they recommend them? How many others did they talk to in the process too, or did they just take someone else's word for it too? If they can't answer these questions well, then their opinion isn't worth much.
Misery loves company. People will tell people to use someone that's not any good in an attempt to feel better about that poor provider. Or, they don't really know if they got a good deal or not. I don't understand it, but I see that in this and related services and many other unrelated areas all the time.
Do not rely on the internet, that's fairly useless to find a good lender. You need to do your groundwork yourself.
Best resource over all: phone book and about an hour or so of your time to sit down and make calls--in one sitting. You can only compare rates and fees accurately if you call them all at the same time. Rates change during the day sometimes, so if you do not do this all at one time, you don't have a good perspective on who is the best.
I find that people will often recommend a broker or bank loan officer whether good or not. Why? Well, if they aren't any good, then that friend of yours that used them didn't know any better and didn't do their homework either (or they wouldn't have used them, right?). Ask them "WHY" do they recommend them? How many others did they talk to in the process too, or did they just take someone else's word for it too? If they can't answer these questions well, then their opinion isn't worth much.
Misery loves company. People will tell people to use someone that's not any good in an attempt to feel better about that poor provider. Or, they don't really know if they got a good deal or not. I don't understand it, but I see that in this and related services and many other unrelated areas all the time.
Do not rely on the internet, that's fairly useless to find a good lender. You need to do your groundwork yourself.