Quote:
Originally Posted by Schraderbrau
I am all about finding the best rate going when I mortgage but I try to stick with larger mainstream financial institutions. Something about borrowing from small lenders scares me. I'm sure they are alright but I am a cautious person when it comes to stuff like this.
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'Mortgage Pal' that OP quotes is not the actual institution offering that rate, they would be a broker/brokerage that has access to that rate, that's all.
Generally speaking, the lenders out there offering the best rates are not the banks, but they do billions of dollars in mortgages in a year. Not really too much to be worried about. While banks seem like a nice cozy place that take care of your best interests, it's actually quite the opposite.