Perks when shopping for a mortgage?

[Anonymous]

Starting to shop around for a mortgage as everyone suggests we do and unsure what shopping around really gets me other than a better rate, and rates change every day. Products are generally the same as we're looking to put down 20% and do a 30 year fixed.

What kind of perks or services should I be looking for? Waving fees? Help with settlement costs? Our credit scores are 775+.

[Anonymous]

Chase gave me a 100 percent no fee no point loan at 3.65 recently and a free BBQ tool set.

I only paid appraisal and application fee which I got credits at closing that covered that.

[Anonymous]

Anonymous wrote:Chase gave me a 100 percent no fee no point loan at 3.65 recently and a free BBQ tool set.

I only paid appraisal and application fee which I got credits at closing that covered that.

Were you already a loyal Chase customer before you applied? What year was this (just for context)? Thanks.

[Anonymous]

Closing costs vary widely. As do points (money) you pay if you want to buy down your interest rate. Not all banks give the same rate.

[Anonymous]

Here's the deal on mortgages. Find someone to write the pre-qualification letter. Once you have a ratified contract, reach out to several lenders and get quotes. Give the first person the opportunity to meet or beat your first quote and call it a day.

I received an increase in the lender credit of about $3K doing it this way.

[Anonymous]

Anonymous wrote:Here's the deal on mortgages. Find someone to write the pre-qualification letter. Once you have a ratified contract, reach out to several lenders and get quotes. Give the first person the opportunity to meet or beat your first quote and call it a day.

I received an increase in the lender credit of about $3K doing it this way.

+1 I got 3 sets of quotes and each time I tried to turn down lender A because I had gotten a better offer from lender B, lender A would increase their lender credit...I saved about $2K that way (probably could have saved more if I continued the back and forth process with the lenders, but I was worried about getting all the paperwork finalized quickly.)