When do I complete a loan application?

Deal Score0

ok … it seems pretty stupid … But we are currently working w / a mortgage broker, and he gave us the application form, fill … However, we will not know until today whether it is the right person to go. We have yet to visit the various banks to see if we get a loan w / these banks … So the question is: Does filling the application form will automatically bind us Broker? or we can even walk around until we find a better deal? i just do not want to pay brokerage fees or even give the person an opportunity to collect fees from us until we are sure he is! Thank you!

  1. Reply
    January 21, 2011 at 9:34 pm

    I would be sure who you want to work with before giving them any forms. First if they all started pulling your credit report it would lower your score and second they will start charging you fees once they start working on the loan. Most of them will want at least the credit report fee up front.

  2. Reply
    January 21, 2011 at 9:49 pm

    brokers deal with a dozen to a hundred lenders while banks use
    only their own resources.

    She may not be the best broker to go to but always use a broker
    to get a loan [it costs a few $ more at closing–presuming you
    did not pay any app fees, credit app fees out of pocket]

    IF you, however, have a great relationship with your banker,
    and if they offer you a great rate, use them and skip the
    broker’s fee from the agency

  3. Reply
    January 21, 2011 at 9:56 pm

    Do not fill it out till you shopped around for the best deal.

    Leave a reply

    Register New Account
    Reset Password