On the look for a good lender for FHA

3 Replies

Armand, have you done any research on your local banks to see who has the best rate?  Many banks offer many different packages.  Shopping for the best mortgage rate will require you to do your homework and research what each bank offers and what fees or costs they have.  You should just reach out to the banks in your area to see what they offer.  It also depends on what each bank qualifies you for.  

Originally posted by @Howard Herrington : So far two banks, both credit unions offered different packages. One has no PMI but a higher rate than the other which has a PMI and a lower rate. I guess I am mostly struggling with choosing the best deal. I am searching to see if there is tool to compare different loans while continuing to talk to other local banks as you mentioned. thank you!  

Armand, have you done any research on your local banks to see who has the best rate?  Many banks offer many different packages.  Shopping for the best mortgage rate will require you to do your homework and research what each bank offers and what fees or costs they have.  You should just reach out to the banks in your area to see what they offer.  It also depends on what each bank qualifies you for.  

 

Armand, PMI with a higher rate vs no PMI with a lower rate depends on how fast the property appreciates as well as how long you plan to keep the mortgage and many other factors. You should be able to google mortgage insurance calculators to get a better idea of what it would be.