What is the best bank in America, the mortgage application?

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Please help! How best to go to the bank, if someone needs a mortgage to the buyer in good reliability over time of a first home any experience? good or bad? Thank you in advance

3 Comments
  1. Reply
    Brian
    April 29, 2011 at 9:53 pm

    Most people I know have gone with Wells Fargo.

    However, if you want a lower interest rate (and you do!) then see if you qualify for a credit union in your area. They often offer interest rates three times (or more) lower than the nation-wide banks.

  2. Reply
    Bob
    April 29, 2011 at 10:07 pm

    While the lending company you work with is important, the individual loan officer is even more important. Smaller or local does not necessarily mean better since most loans will be sold eventually and many smaller lenders don’t offer a wide variety of programs. You want a lender that offers the program that best suits your needs. If you have a 20% down payment and a 750 credit score any lender can help you, but if you don’t you should look for a lender that offers FHA and/or USDA financing. Many states have programs that provide down payment assistance for first time buyers, but not every lender participates in those programs.
    Ask someone you trust who has had a good experience with a lender to refer you to a good loan officer and don’t be afraid to ask the questions you need to become comfortable with your choice. Mistakes and unnecessary delays can be costly, and you want your application to be as important to your loan officer as it is for you.

  3. Reply
    paisley
    April 29, 2011 at 10:55 pm

    Having just purchased our 7th home – we don’t own 7, we just move a lot. We went through Bank of America. This experience, by far, has been the worst. The lack of knowledge and professionalism has been astounding. Excellent credit, no debt – what should have been our easiest. We will be refinancing as soon as we can.

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