Mortgage Forum

Glenn Dorsey

Hey all! What is the best mortgage company out there, in your opinion? I have been with Country Wide for a long time. I have two homes mortgaged with them. They have been pretty good to me. I haven't really had any problems, and they are easy to pay, get questions answered, and review my mortgage statement online.

The reason I'm asking is that we are looking at purchasing some commercial property. We have been leasing the lot and building that our small business is located on for about 16 years now. I know that Country Wide has been good for our home mortgage, and I'm sure that they would be fine for a commercial mortgage loan, but I want to do some shopping around for the best interest rate that I can find.

Do you just shop for the best interest rate that you can find? Does it really matter which lender you choose? In other words, do you just pick the mortgage company that has the lowest rates, and that makes them the best lender to deal with? Or do other things (customer service, easy to work with, etc.) matter when choosing the best mortgage company??

Any thoughts are appreciated. Even though I have had a few loans, I'm not really that knowledgeable about such matters.

Thank you.

Glenn

gtull1

I also have a home loan with Country Wide Glenn. Why? Because they offered the lowest rates when I purchased my home.

I've also heard a lot of good things about Chase. Chase is a huge bank here in Louisiana, and I'm sure that they have offices everywhere. My nephew just bought a new home, and he told me that Chase mortgaged it and that they were great to work with.

Honestly, the best mortgage company, in my opinion, is the one that offers the best home loan rates. I really don't care about much else.

With that said, I have also heard about some nightmares with lenders. A good friend of mine had a lot of problems with Saxon, for instance. I guess I really should consider the company as a whole when picking a lender, but greed must get the best of me because all I can see is the rates and terms that they offer.

Good luck on your commercial loan Glenn!

Glenn Dorsey

Thanks for the input gtull1.

We do have a lot of Chase banks by our house. I never really thought about approaching a bank directly for the commercial loan. Good suggestion.

Yeah, all I really consider is which mortgage company has the best deal too. This probably isn't the best way to go about it though.

Never heard of Saxon. Are they a big mortgage company???

Thanks! It will be nice to own the little property. We've been paying rent on it forever.

:O)

Glenn

rachael24

I am in the process of getting a loan from a bank directly. I have worked at a bank for 3 years, and I def. think this is the best way to go. Good luck!

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Recent college graduate with a credit consolidation concentration.

gtull1

Mind sharing why a bank is the best lender to use for a mortgage Rachael? My nephew said he enjoyed using the bank to borrow money because he didn't have to go through any middlemen (ie. mortgage brokers). Does that make any sense to you?

I would have used my bank many years ago, but the interest rate they offered was much higher than Country Wide. In your opinion, can banks compete with large mortgage companies like Country Wide?

mariya08

Yes! Nice information that you have shared with us.
Thank you very much!

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Mortgage Company