What mortgage company would be best for first time home buyers in New England?

Apr 2nd, 2010
by admin.

I’m looking for info regarding a fixed-rate, low interest home loan.

I’d rather not inquire through a dozen different companies, right away, because they will all run a credit check. And every time your credit is checked, it looks bad on your credit. Sort of.

Thank you for any help or leads you can give me.

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6 Comments

  1. godged says:
    April 2, 2010 at 10:10 am

    Ask friends and family for recommendations of lenders in your area that they have used and appreciated the service.

    If that doesn’t work, go to 3 lenders in your area. Ask about everything, interest rate, transaction fees, appraisal fees, closings costs (get a good faith estimate), pre-payment penalties, late fees, anything that could potentially cost you money. Compare the whole package, not just interest rate.

    Don’t go to internet lenders, they won’t know about local programs that you may qualify for.

  2. Phibnax says:
    April 2, 2010 at 10:28 am

    Actually, multiple credit checks within a short period of time don’t really hurt your credit. The reporting agencies figure you are shopping for something and it usually only counts as one instance.

    But to answer your real question: I would recommend Quicken Loans – they are the #1 online mortgage lender in the the country, and have extremely high client satisfaction (they say 9 of 10 clients refer their friends and family). They refinanced my mortgage in August, right when other mortgage companies were melting down, and it couldn’t have gone more smoothly. They approved me quickly over the phone, and I closed in under three weeks.

    You can check them out at quickenloans.com, play with the mortgage calculators to see how much house you can afford, and chat with a banker online. You can also pick up the phone to call them if you want. When my loan was in process my banker even gave me her cell phone, and I used it to ask her some questions when she was out of the office. Their service is great!

    Check them out, you won’t be sorry.

  3. Ravin_Mad says:
    April 2, 2010 at 10:42 am

    check but I think if you go thru a clearinghouse such as lendingtree.com they only check your credit 1 time and they all go off of that initial credit report instead of having tons of checks done.

  4. Cindy C says:
    April 2, 2010 at 11:33 am

    Here are many first time home buyers programs available. You may start by calling the city Housing Office in your city or the county housing office