Went through the process of house hunting/buying

[rileywiles23]

Interesting, the owners went into contract with you before you had a pre-approval?

Yes.

[ckmk47]

Shop for a mortgage:
Call brokers, bankers, banks.
Give them your credit score, the % you're putting down, the amount you want to borrow, the Borough it's in.
Ask what rate they can give you.


Do NOT give your SS# until you're really applying.
Even after you start with someone, you're not stuck there.  If you can get a better rate elsewhere, or they can't get you a mortgage at the rate that got you to pick them, you can still move on.


A broker can help smooth the paperwork and other requirements.  He can explain your choices - even when you didn't know there were choices. I've had good experiences working with brokers.

[good sam]

A mortgage broker ? Yes. Not closing for quite a while.

As a lawyer, I'd always advise home buyers to speak with a mortgage broker before signing.

[hvaces42]

As a lawyer, I'd always advise home buyers to speak with a mortgage broker before signing.

Who said deal isnt contingent on financing?

[rileywiles23]

Who said deal isnt contingent on financing?

Of course it is.

[good sam]

Of course it is.

That's what I assumed.

[rileywiles23]

Shop for a mortgage:
Call brokers, bankers, banks.
Give them your credit score, the % you're putting down, the amount you want to borrow, the Borough it's in.
Ask what rate they can give you.


Do NOT give your SS# until you're really applying.
Even after you start with someone, you're not stuck there.  If you can get a better rate elsewhere, or they can't get you a mortgage at the rate that got you to pick them, you can still move on.


A broker can help smooth the paperwork and other requirements.  He can explain your choices - even when you didn't know there were choices. I've had good experiences working with brokers.

Thanks for the info.

[elit]

Even after you start with someone, you're not stuck there.  If you can get a better rate elsewhere, or they can't get you a mortgage at the rate that got you to pick them, you can still move on.

This.  Very important.  Many brokers will try to tell you otherwise.  Always have another option even (especially) late in the game. IMO is even worth it to run 2 applications all it will cost is another appraisal fee and it can potentially save you thousands

[Sport]

This.  Very important.  Many brokers will try to tell you otherwise.  Always have another option even (especially) late in the game. IMO is even worth it to run 2 applications all it will cost is another appraisal fee and it can potentially save you thousands

+1 I know of at least 2 people that (could have) saved thousands by having a second broker.

[CS1]

+1 I know of at least 2 people that (could have) saved thousands by having a second broker.

the interest rates are so low now, that hopefully it's not a huge deal with a first broker.

[elit]

the interest rates are so low now, that hopefully it's not a huge deal with a first broker.

It costs the same difference every percentage point you lose regardless of where the starting point is

[good sam]

It costs the same difference every percentage point you lose regardless of where the starting point is

But the spread will be smaller at lower rates.

[elit]

But the spread will be smaller at lower rates.

Don't understand?

[Mordyk]

+1 I know of at least 2 people that (could have) saved thousands by having a second broker.

Im the third   although I'll be refinancing in a year or 2 so will know better then

[elit]

Im the third   although I'll be refinancing in a year or 2 so will know better then

Why wait

[Zevwolf]

What is the lowest rate you can get for refinancing a loan of $417000 in NY State ?

[ckmk47]

What is the lowest rate you can get for refinancing a loan of $417000 in NY State ?

GIYF for that info.

[peacenlove613]

Can someone recommend a good home inspector in the monsey area?

[good sam]

Can someone recommend a good home inspector in the monsey area?

http://www.stuartschrager.com

[Bentzy]

Can someone recommend a good home inspector in the monsey area?

I was happy with this person.

Abe Kurek
Home Inspection Services
845-821-4063

You can pm me if you want a copy of the report he emailed me to see an example of his work..