Forum Thread

30 year conventional mortgage recommended lenders

Gdog2004 2,391 234 August 24, 2016 at 10:03 AM
Deal
Score
0
1,665 Views

Thread Details

Hi guys:
I want to borrow about 420,000 with 25% down. Income is strong, credit score is like 800.
Any recommendations ? Best I have found from a reputable lender is 3.37 595 in fees (capitol one). Can anyone recommend anyone else ?

13 Comments

1

Sign up for a Slickdeals account to remove this ad.

Joined Dec 2008
L10: Grand Master
6,011 Posts
1,944 Reputation
#2
Use Zillow, reach out to three lowest offers and go from there.
Reply Helpful Comment? 0 0
"This whole.. I have XX company so my pee pee is 2" longer talk is hilarious. Who cares what company is cheapest, best, etc. Pick the company and plan you want and keep it to yourself."
Joined Jan 2004
L10: Grand Master
14,922 Posts
1,093 Reputation
#3
Amerisave, Provident Funding and I am sure others have been recommended in the past. I had a great time with Amerisave until my last refi when they wanted a ridiculous amount of documentation.

I had a horrible experience with a broker than I got on Zillow. NEVER EVER will I do that again.
Reply Helpful Comment? 0 0
#4
Penfed
Reply Helpful Comment? 1 0
SmilieSmilie
#5
Quote from Gdog2004 View Post :
Hi guys:
I want to borrow about 420,000 with 25% down. Income is strong, credit score is like 800.
Any recommendations ? Best I have found from a reputable lender is 3.37 595 in fees (capitol one). Can anyone recommend anyone else ?
This takes about 10-minutes of your time to perform yourself. Being you were only interested in "reputable lenders," I used the major banks. I don't know where you live, so I used my ZIP and here is the information I found for you:

Putting your information into Capital One's website shows a rate of 3.5%, but I don't see their fees listed anywhere.

PenFed is a 3.375 with 1% origination ($3150 in your case).

Wells Fargo is at 3.5% with ~$5,000 in closing costs (no points).

Bank of America is at 3.375 with ~$7,000 in closing costs(0.556 [points).

Chase is at 3.5% with ~$10,000 in closing costs (-0.250 points).
Chase is at 3.25% with ~$14,000 in closing costs (1.125 points).

Fifth Third is a 3.5% with 0.25 points.
Reply Helpful Comment? 0 0
#6
I've had great experience with Sebonic (Cardinal) Financial, but that was for a refi.
Reply Helpful Comment? 0 0
Joined Jul 2004
L7: Teacher
2,391 Posts
234 Reputation
Original Poster
#7
Quote from 91stealthes View Post :
This takes about 10-minutes of your time to perform yourself. Being you were only interested in "reputable lenders," I used the major banks. I don't know where you live, so I used my ZIP and here is the information I found for you:

Putting your information into Capital One's website shows a rate of 3.5%, but I don't see their fees listed anywhere.

PenFed is a 3.375 with 1% origination ($3150 in your case).

Wells Fargo is at 3.5% with ~$5,000 in closing costs (no points).

Bank of America is at 3.375 with ~$7,000 in closing costs(0.556 [points).

Chase is at 3.5% with ~$10,000 in closing costs (-0.250 points).
Chase is at 3.25% with ~$14,000 in closing costs (1.125 points).

Fifth Third is a 3.5% with 0.25 points.

I realize how much time it takes, you dont have to be snarky. And I have already done that. I was looking for someone who had a great rate/fee and PERSONAL experience with a lender they worked with.
Reply Helpful Comment? 0 0
#8
Quote from Gdog2004 View Post :
I realize how much time it takes, you dont have to be snarky. And I have already done that. I was looking for someone who had a great rate/fee and PERSONAL experience with a lender they worked with.
I've never worked with any of these major lenders other than my loan being sold to them (Fifth Third, Bank of America, Wells Fargo).

I've worked with PenFed for auto loans and they were great. My sister refinanced with them, as has nothing but good things to say.

I've worked with local banks and online brokers for my home purchases and refinances. I've had nothing but good experiences. You mention you wanted "reputable lenders" which made me believe that you weren't interested in online brokers. An online broker got me a 15-year refi at 2.25% with ~$5000 needed to close (points, fees, title, etc.) within the last 3-weeks.
Reply Helpful Comment? 0 0
Last edited by 91stealthes August 26, 2016 at 07:02 AM

Sign up for a Slickdeals account to remove this ad.

Joined Jul 2004
L7: Teacher
2,391 Posts
234 Reputation
Original Poster
#9
Quote from 91stealthes View Post :
I've never worked with any of these major lenders other than my loan being sold to them (Fifth Third, Bank of America, Wells Fargo).

I've worked with PenFed for auto loans and they were great. My sister refinanced with them, as has nothing but good things to say.

I've worked with local banks and online brokers for my home purchases and refinances. I've had nothing but good experiences. You mention you wanted "reputable lenders" which made me believe that you weren't interested in online brokers. An online broker got me a 15-year refi at 2.25% with ~$5000 needed to close (points, fees, title, etc.) within the last 3-weeks.
Gotcha. I've had good experiences with Third federal on Refinances. Penfed also. But so far, outside of Sebonic (which has wayyyy tooo many horror stories) the best I have found is Capitol one. 3.37 with 595 of fees. of course this was a few days ago. Rates/Fees change daily. And I also am getting the "current valued customer" rate. So that may influence the rates/fees.
Reply Helpful Comment? 0 0
#10
Quote from Gdog2004 View Post :
Gotcha. I've had good experiences with Third federal on Refinances. Penfed also. But so far, outside of Sebonic (which has wayyyy tooo many horror stories) the best I have found is Capitol one. 3.37 with 595 of fees. of course this was a few days ago. Rates/Fees change daily. And I also am getting the "current valued customer" rate. So that may influence the rates/fees.
I didn't contact Sebonic, but I have actually heard good things about them. I didn't like that they needed all my personal information before providing me with any rates.

My refinance with the online broker I found (with over 300+ reviews averaging 4.9/5.0 across multiple sites) has been very streamlined with open communication, both phone and email . The online broker I am using if offering (today's rates) the following for a 30-year using your information (again, my location though):

3.375 with -0.625 point giving you a credit of $870 to use for title, appraisal, etc
3.250 with 0 points, but $1100 fees plus title, appraisal,etc
3.125 with 0.625 points plus $1100 fees plus title, appraisal, etc
3.000 with 1.5 points plus $1100 fees plus title, appraisal ,etc
Reply Helpful Comment? 0 0
Joined Jul 2004
L7: Teacher
2,391 Posts
234 Reputation
Original Poster
#11
Quote from 91stealthes View Post :
I didn't contact Sebonic, but I have actually heard good things about them. I didn't like that they needed all my personal information before providing me with any rates.

My refinance with the online broker I found (with over 300+ reviews averaging 4.9/5.0 across multiple sites) has been very streamlined with open communication, both phone and email . The online broker I am using if offering (today's rates) the following for a 30-year using your information (again, my location though):

3.375 with -0.625 point giving you a credit of $870 to use for title, appraisal, etc
3.250 with 0 points, but $1100 fees plus title, appraisal,etc
3.125 with 0.625 points plus $1100 fees plus title, appraisal, etc
3.000 with 1.5 points plus $1100 fees plus title, appraisal ,etc
And who is the online broker ? Thats pretty good. 60 day lock ?
Reply Helpful Comment? 0 0
#12
Quote from Gdog2004 View Post :
And who is the online broker ? Thats pretty good. 60 day lock ?
Those are for 30-day lock.

60-day lock rates are:

3.5 with a credit of $1570

3.375 with -0.25 points, so a fee of $340 plus title, appraisal, etc

3.25 with 0.375 points, plus $1100 fee plus title, appraisal, etc

3.125 with 1.25 points plus $1100 fee plus title, appraisal, etc
Reply Helpful Comment? 0 0
Joined Jul 2004
L7: Teacher
2,391 Posts
234 Reputation
Original Poster
#13
Quote from 91stealthes View Post :
Those are for 30-day lock.

60-day lock rates are:

3.5 with a credit of $1570

3.375 with -0.25 points, so a fee of $340 plus title, appraisal, etc

3.25 with 0.375 points, plus $1100 fee plus title, appraisal, etc

3.125 with 1.25 points plus $1100 fee plus title, appraisal, etc
I need a 60 day lock.
Pretty good deal. Thats pretty much what I have. 3.5 and my credit is 1390. I am going to do 3.62 with a credit of 3740
Reply Helpful Comment? 0 0
#14
Quote from 91stealthes View Post :
Those are for 30-day lock.

60-day lock rates are:

3.5 with a credit of $1570

3.375 with -0.25 points, so a fee of $340 plus title, appraisal, etc

3.25 with 0.375 points, plus $1100 fee plus title, appraisal, etc

3.125 with 1.25 points plus $1100 fee plus title, appraisal, etc
Who is that online lender?
Reply Helpful Comment? 0 0
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Copyright 1999 - 2016. Slickdeals, LLC. All Rights Reserved. Copyright / Infringement Policy  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)  •  Interest-Based Ads
Link Copied to Clipboard