Should I trust a one-stop broker for mortgage and real estate, who uses Countrywide Bank as a lender?

Personally, I'd stay away from brokers unless you're credit is so bad you need someone to go to bat for you. Remember, a broker is a "middle man" who is receiving a fee. That means YOU are going to pay more, not the lender.

I'd first try a place like Lending Tree.

I would never go to a guy who plays both ends of the field like that. I wouldn't even go in his office. Like he's really going to lead you to the best deal. Find someone else.

Before drawing near a dealer. I propose doing all your possess study first. In your neighborhood newspaper or online, retailer round. Look at Banks, (authentic) Mortgage Companies, or even the State or Local Government (many locations have housing finance businesses with 1st-time residence-customer systems). When looking special banks, I might begin along with your "financial institution of account"- the one that is preserving your cash. As a depositor, you've a historical past and probably a few leverage that can support you get extra favorable phrases. Make certain you pay concentration to the main points (APR, Points, Fees, ARM phrases, and many others...) I'm now not a colossal fan of loan agents. While the vast majority are tremendously sincere businesspeople along with your curiosity at middle, there also are a hand-filled with soiled buyers, who would get you tied-up with a few sub-high merchandise.

I agree with Ozzie. Unless you have trouble finding or getting a loan right from a lender, a mortgage broker just adds cost (their origination fee).

I originally got preapproved for an FHA loan from a local bank. My real estate agent suggested a broker, but that broker seemed to be part time (voice mail only) and never even got me a quote. So I got a conventional loan (not FHA) from the bank. That bank immediately sold the loan to a nationwide lender. I have since refi'd with that lender at lower fixed rate for less years (only $170 closing costs for refi).

I have no experience with Countrywide, but have heard some things. Do a websearch on them and see what you dig up.

Mortgage brokers can give very good rate. The wholesale and retail divisions of lending institutions compete for business. I have been able to use wholesale division of big lender to beat rate offered by retail division. of lender. The borrowers were very pleasantly surprised. (And I have wholesale account with Countrywide.)