Who would you contact for a mortgage loan? Where would you start?

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First time home buyer here. I want a 30-year fixed rate loan for around $ 100,000. I live in Tampa, FL. Do you think that a mortgage broker is a good person to contact? I don’t want to pay a broker, so hopefully the lender would pay them. THANKS for any help.

3 Comments
  1. Reply
    kemperk
    April 29, 2011 at 11:05 pm

    start with your bank and then try other banks. a m. broker will
    earn 2-5 points out of your loan, so look first!

  2. Reply
    godged
    April 29, 2011 at 11:25 pm

    Not all brokers are created equal. There is a small, local loan brokerage in my area that routinely kicks the stuffing out of any other mortgage lender because they have low overhead. The rates are good, closing costs are low and customer service is top notch.

    I have never heard of the lender paying a broker. Maybe it happens, but not around here.

    It pays to compare, so shop around.

  3. Reply
    BB
    April 29, 2011 at 11:56 pm

    start with your bank. If your credit is good I would recommend Bank of America. I got a $ 99,000 loan from them last july with no fees and no pmi on the loan. Very easy to work with and they were fairly quick. Got the loan done on a foreclosure in three weeks

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