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Do private lenders give better rates?

I am finally buying my first home this year and I would like to know where to source the best deal on getting a loan. A major bank in our area in Houston, TX is offering 3.125% for a 30 year term loan. What are my other options aside from the major banks? Do private lenders give better rates? by joelw401 from Houston, Texas. Jan 7th 2022 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,660 contributions

The vast majority of loans, regardless of whoever originates the loan (bank, broker, direct lender) is doing behind the scenes a very standard Fannie Mae, Freddie Mac, FHA, VA type loan. This is why you see everyone quoting nearly identical rates. From there, almost without fail, your best deal is always going to be your local mortgage broker. I lend in MN, Wi, IA, SD, ND. Find me at JoeMetzler.com. Cambria Mortgage, NMLS 274132

Jan 8th 2022
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