Hi Everyone,

Currently I am resided in the university hostel. Could you please help out as to what should choose to get a financing, a broker or a bank directly. I just wanted to get a second opinion. Here are some of the lenders that i googled some days back, can anyone let me know which one is better and repoted.

http://www.lendingtree.com/
http://www.mfgmortgagerates.com/
http://www.lanningfinancial.com/home.html
http://www.mortgagefundinggroup.com/

Regards

What are you buying? A commercial property or a residential property?

Especially commercial property, I would suggest a competant loan broker who knows the business as well as the local market. There is a lot to do with the loan, working with appraisers is vital important factor in a commercial mortgage application process. In today's market, without a knowldgeable loan broker, it is almost impossible to get the loan you wanted.

With regards to residential loan, if you are looking for a government loan such as FHA, you must use a loan broker, because you are not familiar with the procedures or the paperwork necessary to get the loan.

With regards to a conventional residential loan, it is possible for you to go to the bank yourself, but it is not wise to do so, because you many not be able to get the best rate to go direct. Loan brokers normally get a "wholesale" rate which is lower than a retail rate that the consumers get walking through the door. Banks will give the loan brokers a better rate because they are doing so much business with the bank. If you do not believe me, you just have to go out to compare.

In all cases, a "competant" and a "reliable" loan broker is hard to come by. Search the net is not going to give you those quality. A referral from those friends who you trust perhaps is the only way.

I wanted it for a residence. I guess i have to get a broker do all the paperworks. It is a bit difficult to get it from a bank..no doubt it is safe but still the documents and attestations are a hectic to run after. A friend of mine got hers from MFG. They got her a good place, what do you say should i go with this MFG or do you have any other lenders in mind? Suggestions?

Can't speak of a company I have not done business with. You just have to make more comparisons and inquiries. Its like hire some one to work for you, buyer be ware...

Good luck....

Mortgage brokers are professionals who are paid a fee to bring together lenders and borrowers. They usually work with dozens or even hundreds of lenders, not as employees, but as freelance agents.Think of mortgage brokers as scouts. They find and evaluate home buyers, analyzing each person's credit situation to determine which lender is the best fit for that person's needs. The broker submits the home buyer's application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. A good mortgage broker can find a lender for just about any type of credit.

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Commercial property in chennai | Ooty

I think you should try to contact some reliable companies first. I hope they will give you more better option. I hope you will consider my suggestion.

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Home Mortgage Loan | Refinance Home Loans