Quote:
Originally Posted by Ron Bennett
If you have excellent credit, skip the on-line stuff and contact some local / regional banks - you'll likely get better terms (length of loan, points, fees, etc - can add up considerably, especially if rolled into the loan), better rate (while also comparing terms as previously mentioned), and better service. When comparing loans with similar rates and terms, also look at how often the lender resells loans, and who does the loan servicing.
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If you talk to a few places that specialize in jumbo loans, you can still have "good" credit to get the loan. It's best to seek someone out through a real estate agent connection, just ask around if they have a good connection, then it's MOST important to see if they have in-house underwriting. If they don't, move on.
In-house underwriting means the decision maker is right there in the office and you may be able to provide him or her with extra info. This is the route I went and actually met the underwriter and was able to successfully are with her on every point and win.
Point being, make sure to spend your time knowing IRS and tax laws, it will come in handy when you need to correct someone