We just got our offer accepted for primary residence. I worked with a mortgage broker for pre-approval but started to shop for lender now. The broker I worked with for pre-approval asked me to stay away from online lenders as they don’t close on time. But I definitely see better rates online. Any lender recommendations based on personal experience and what things to keep in mind while comparing them?

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First of all, congratulations!

Online lenders could be slow, it just depends on your loan officer. They are notorious for forgetting about your loan, not communicating with you or your realtor or don’t always have in house underwriting or processing.

Also, usually the lower the rate advertised, the higher the loan origination fees, discount point fees or overall underwriting fees.

Let me know if I can help you. I can lend in all 50 states and usually can match a realistic online rate like from Better or depending on the state, have special programs. We close in 15-21 days.

I've worked with Rocket a few times and more often than not it's a struggle. Timelines are missed, no communication and zero familiarity with my region.

I would find a Mortgage Broker, maybe ask your Agent if they have one they liked. A Broker will be able to shop rates more effectively than we can as well since they know your file.

I bought in the Seattle market and used Filo Mortgage, an online lender based on the east coast. Best decision I could have made was going with an online lender - we closed a week and a half early. No origination fees - they actually paid me to go with them and significantly lower fixed rate than anyone else offered me without having to pay any discount points. Just be proactive on providing what they are asking for and closing on time shouldn’t be an issue.

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