Mortgage interest rates are based off the prime rate (the amount the Federal Reserve charges to blanks). For this reason, you're probably not going to find a huge difference in the rate you'll pay from one lender to another (though some lenders will try to hide this fact by publishing a lower interest rate and then charging discount points to make up for it). You may find a slight variation in the loan origination fee charged by each lender, but it probably will not be enough to sway you from one lender to another. So what considerations are important in choosing a lender?
Ultimately, it comes down to your convenience. If you have a solid credit rating, a good mortgage loan officer should be able to tell you, within minutes, what documents you need to turn over to him/her for processing and have you approved for a loan within a couple of hours of receiving your application.
So your primary questions for a potential lender are;
Do you have a comprehensive selection of loan packages? and
Can you provide quick, efficient service?
With those criteria in mind, we would strongly encourage you to consider the following mortgage companies and contacts;
Mark Bailey PNC Mortgage 8250 Woodfield Crossing Blvd., Suite 125 Indianapolis, IN 46240 Office: (317) 251-7472 Ext. 248 Fax: (317) 254-8029 Cell: (317) 403-1245 Email: mark.bailey@pncmortgage.com
Missy Helm, Mortgage Loan Officer US Savings Bank 5881 E. 82nd Street Indianapolis, IN 46250 Office: (317) 843-1006 Fax: (317) 843-4154 Cell: (317) 519-3718 Email: mhelm@usavingsbank.com
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