Possibly OT----mortgage question

[Tispe]

I am being bombarded by our listing agent to talk to their financial advisor
re getting a mortgage on whatever condo I wind up buying. Some people have
told me that I could do better simply looking at the ads in the classifieds
that have the rates listed.
Is this true that I might end up paying more through the real estate agency?

Since my posts rarely show up, please feel free to e mail me directly.

Thanks,
Tispe

[Denise F. Hayden]

You won't know until you ASK! Usually realtors know who is giving what
rates. So, get with your realtor to at least talk about your options.

Denise

"Tispe" <mcke...@erols.com> wrote in message
news:a93q4o$o12$1...@bob.news.rcn.net...

[Tispe]

Thanks, Denise....my brother, who is quite realtor savvy, says I should
simply call all the companies advertised in the papers and I will most
likely get a lower rate. There are a number of issues here....first we
haven't sold our house yet, so I'm probably putting the cart before the
horse in looking at condos.

Also, I had initially intended to buy a condo outright, but now have
reconsidered that......(I'm terrified of additional monthly expenses added
on to the association fee, electric, cable, telephone,).

Thirdly, I lost out yesterday on the upper unit I was all set to make an
offer on, (which it turns out was embarrassingly low compared to the offer
the owner got by someone else), and I prefer an upper unit, but I did see a
fabulous lower unit, but lots of sliders (could make it cold) and it's not
as bright and cheery as upstairs. I'm always worried about the "fish that
got away".............

Thanks for your input, AND more importantly, your support,

Tispe
"Denise F. Hayden" <dfha...@iquest.net> wrote in message
news:8ket8.1815$Mx3.3...@news1.iquest.net...

[Denise F. Hayden]

And while I agree with your brother to a point......realtors usually know
where the better deal is now or can help you find someone. Heck, there are
even places on the net. Maybe you can just sit and make a bunch of calls one
afternoon. Your realtor can also tell you about how much you would qualify
for in a mortgage. Hang in there, it will get easier some day. To me, moving
is one of the biggest pains ever.

Denise

"Tispe" <mcke...@erols.com> wrote in message

news:a93vm6$97v$1...@bob.news.rcn.net...

[ich...@ak47.algebra.com]

of course. they are getting a great commission and are hoping to get you
stuck paying more than you need. whenever you are "bombarded" like this,
stay away. Call a few mortgage brokers and find a good one, you will
et better rates andlower closing costs.

igor

[Denise F. Hayden]

or perhaps they are wanting to know what sort of deal she can get and how
much she can qualify for so that they can find her alternative housing.

Denise

"Karl Denninger" <ka...@FS.Denninger.Net> wrote in message
news:a94bma$i3$0...@dosa.alt.net...
> Gee, why would they bombard you like that?
>
> Might it be due to them getting a kickback, er, commission on the deal?
>
> Guess who's going to pay for that?
>
> --
> --
> Karl Denninger (ka...@denninger.net) Internet Consultant & Kids Rights
Activist
> http://www.denninger.net Cost-effective Consulting
> http://childrens-justice.org SIGN THE UPREPA PETITION TODAY
>
> In article <a93q4o$o12$1...@bob.news.rcn.net>, Tispe <mcke...@erols.com>
wrote:

[Roger (Rog')]

I just refinanced my fiancee's house a few months ago.
Here's what I did:

1. Got current rates for my locale from http://www.bankrate.com

2. Applied online for "preapproval," to make sure I qualified at
http://www.quicken.com and http://www.lendingtree.com

3. Went to a local bank and credit union for comparison.

I avoided mortgage brokers who tend to charge absurd
"origination" or "underwriting" fees.

The best deal I got was from a local credit union...
7%, no points, for a 20 year mortgage.

==Roger==

--
===Roger===
"It's better to keep one's mouth shut and be thought a fool
than to open it and resolve all doubt." --Abraham Lincoln

"Tispe" <mcke...@erols.com> wrote in message

news:a93vm6$97v$1...@bob.news.rcn.net...

> Thanks, Denise....my brother, who is quite realtor savvy, says I should
> simply call all the companies advertised in the papers and I will most
> likely get a lower rate. There are a number of issues here....first we
> haven't sold our house yet, so I'm probably putting the cart before the
> horse in looking at condos.

***

[Tispe]

I just called the realtor......this "pre qual" thing with the finance guy is
just to show that I have assets if I make an offer on a contingency basis
(i.e., based on the selling price of my house). She told me I can go to any
bank, lending institution I want, don't have to stay with Weichert.

Thanks for your urls, Rog. I started looking other ones up, but when they
ask for my SS number I kinda hesitate giving that out so cavalierly on the
internet. Do I absolutely HAVE to give them my ss number?

My God, folks, working for a CPA this week is insanity........then our open
house is following Sunday........ Send me some good vibes to have the
strength to get through the next two weeks.......And the divorce is not even
off the ground yet---literally no time to get all the info together.....life
as I know it returns only AFTER April 16 (we have to allow an extra day for
disgruntled clients!!!)

Tispe
"Denise F. Hayden" <dfha...@iquest.net> wrote in message

news:MZjt8.1822$Mx3.3...@news1.iquest.net...

[JoelT]

Realtors tend to focus on which company processes the paperwork the
fastest. Their main concern is not having the timing of the loan
mess up their sale.

Realtors who have a pipeline into a specific lending service usually
have a hidden profit motive. If it is a wholly owned subsidiary, then
the motive isn't hidden, but it is still profit as the main focus.

[Roger (Rog')]

These sites have encrypted, secure servers ("https"),
so I gave mine. I also gave it to Equifax.com to check
my credit record. And to an online broker to open an
account and an IRA. For problemo.

At some sites, you can do a quickie "how-much-can I afford"
calculation, that's not a full pre-qual, without disclosing it.
--
===Roger===

"Tispe" <mcke...@erols.com> wrote...