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Updated almost 4 years ago,
Is it best practice to shop lenders?
Hi all. Is it best practice to shop lenders? Any tips/tricks or info around this would be super helpful.
My situation:
Credit score of 800-805 (depending on company). I want the lowest interest rate, and lowest down payment for a 30 year mortgage. I have zero debt, a good/great W2 salary (it's all relative really), and have plenty of assets. Without tooting my own horn, I'm a great candidate for a conventional loan (especially at the price point I'm looking to finance) and should get low rates no matter which lender I go with.
So... is it worth shopping around? Or do I just go with a referred lender and use my time doing other important tasks?
I have also heard of shopping around for perks (lender credits, appraisal credits, closing cost assistance etc.)... is this a real thing? Even in this competitive investment market?
Thanks in advance for all your insights and opinions :-)