Hi,
Can someone recommend banks to apply for a mortgage with? I applied with my hometown bank, and my current bank and am kind of a lost with what to do next. My hometown bank quoted me an interest rate of 4.5%. My current bank issued a pre-approval letter without a cost sheet, so I don't have an interest rate from them. I have one account in collections that is only one file with 2 out of the 3 credit bureaus, so my scores are 805, 699 and ~670. I am not planning on paying off the collections account. I have no problem with paying an average interest rate until the collections account falls off my report and then refinancing the mortgage.
Two other questions:
- The interest rate is not affected by the total loan amount, correct?
- I did use Quicken Loans, which was a horrible mistake. I thought I could quickly receive cost sheets from multiple banks, but instead I received 7 calls before 9am the following day with all of them expecting my immediate attention and they all asked the same questions I already answered with Quicken Loans. When they ask questions about my life in general, is that sales bullshit, or can it potentially affect the loan in some way? I could see it affecting the loan in that the bank wants to know you life in general is stable, but I am not sure.
Thanks in advance.



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