Quote:
Originally Posted by MoneyGuy
Better yet, use a mortgage broker. The broker will shop the market for you and do one credit check, instead of shopping around yourself and having multiple financial organizations doing multiple checks.
|
My experience is Brokers get a better commission with one lender and so tend to favor that lender, if its a .1% difference to you yet a $200.00+ commission difference to the broker... I'm betting they go with the bigger paycheck... I say this because brokers always seem to go with a first national or the like and I have found the big banks can offer a similar deal or in my latest case a better one... but I don't know that just seems to be that way.. and I assume because first national pays them better.
Maybe you would know this Moneyguy, could a person not request their own credit report and shop around with it in hand. When the lender asks to check your credit you hand them it and say assume this is correct, if I use you of course you will be able to check it in your system and if they don't match your under no obligation to honor any verbal deal we have...
I would think they should be able to quote you based on that...