Shopping for mortgage loans

[Gardner Barnes]

What is the process for shopping for mortgage loans?

I pulled this off the smart money website. It explains the type of loan I am looking for. Essentially, I dont want to put my trust into the hands of a mortgage broker because I have had a bad experience with one of them. She waited until a few days before closing to offer her "final rates" when i did not have time to look around for a better deal.(The Link )

In reply to:

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[OrangeChipper]

Your question is over my head...

But here is a site that might be helpful in comparing rates.
The Link

For a 7/1 in the austin area...

LOOK HERE... The Link

I personally would encourage you to look into a fixed rate of 15 or 30 years. Why? Because unless you plan on moving in less than 7 years rates are at historic lows.

Here's an article on the sensibilites of ARMS..The Link

 

[bullzak]

This is a good website:

The Link

 

[forgotmyusername]

GB, I used Schwab Bank for our mortgage. They will match anybody's rates and were low on closing costs. Shoot me a email and I will get you some more info.

 

[Bernard]

No matter what you do, get multiple quotes from different brokers. Mortgage brokers and lenders make more money by charging you higher interest. No matter what they say it's a conflict of interest for them to offer you the lowest rate. You must play one against the other to get the best rate.

Bernard

 

[LazyEngineer]

Talk to my friend Jason Jordan - local horn and loan officer. To quote a line from the Manuel Escobar commercials: "He'll take that fear out of you in an instant." PM me if you want contact information.

 

[Gardner Barnes]

forgot: I have my investment accts through schwab so I will check with them. Thanks for hte advice

Lazy: PM sent

others, thank for the links, they were most helpful.