Home Buying Team Recommendations

[CateP]

Originally Posted by AllAbourdon

Rates can easily be distorted by points also. It can be a marketing ploy more than anything.

True. It is always important to check points when looking at rates.

I have no affiliation with Laconia Savings at all ,but I DID like how you can see your closing costs right on their web site. Very helpful.

[lawn psycho]

Something that the rates don't reflect. If you go to a big bank like Cit, BoA, etc you very well get the lowest rate. However, have an issue such as an injury, lose your job, etc and they will follow the process to a "T" up to an including foreclosure.

At the local banks, if you work with them they almost always accomodate people. Luckily I've never had to go down that path but it's something else to consider when you get a mortgage.

[Rattlesnake Guy]

We did our island property with Laconia Savings Bank in 2003. They were great and still service the loan.

We have found inspectors to vary widely. On one house the inspector found so much wrong the seller dropped the price by 1/3 in a panic move. We declined. The same inspector found little wrong with the house we ended up buying 17 years ago. He turned out to be correct on the good report also.

[TiltonBB]

Originally Posted by CateP

True. It is always important to check points when looking at rates.

I have no affiliation with Laconia Savings at all ,but I DID like how you can see your closing costs right on their web site. Very helpful.

The true cost of a loan is the APR (Annual percentage rate) It takes into account all of the costs of getting that loan including points. The interest rate is how the payment is determined and is different than the APR.

Published rates are sometimes different than actual rates offered because some websites do not update every time the rates change. If you are shopping just for rate you should call each lender within a 1-2 hour time frame so that they are all looking at the same day, and time, rate sheets.