Top Mortgages
Lately I have been researching mortgages for a home purchase in Houston Texas. I have found some great mortgage sites that offer decent mortgage programs at this time.
1. Quicken Loans - At first glance Quicken Home Loans seems to be top notch. They have a $500 out of pocket at closing deal currently. This offer is approximately $100 per month lower than a mortgage broker quoted us. They offer live online chat, which worked well. They will ask for your social and are persistent. This got old so I asked them to call. They called and became very persistent and then asked for $300 to go ahead with an approval. They kept giving me the run around about why should they invest their time if I am not willing to be serious and I prove how serious I am by giving them $300 that will be refunded at closing.
To me this is the cost of doing business. They want my business and I am competing lenders. They scared me away and I moved on to E-loan.
2. ING Direct Mortgages - ING Mortgages looks god and offers a $895 closing if you use their closing agents. They are pushing he Adjustable Rate Mortgages pretty hard.
3. Wachovia Mortgages - Mortgages through Wachovia seem very competitive but on the loans I looked at had more upfront costs such as closing costs unless you went with a negative points loans which increased your monthly payment.
4. E-Loan - I have E-loan a shot with an online application. So far so good. The online app was easy and we will see the response in a few hours after they open. They say it normally takes 15 minutes, but since they are closed right now it will be first thing in the morning.
I will keep you updated on the various mortgage companies and their quality. I will know much more as I go through the process over the next 3- or so days.
What are your experiences with mortgages?
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