The Internet is full of banner and pop up ads promoting crazy low 15 and 30 Year Mortgage Rates. Recently one very large and popular online mortgage company stated I could get a 15-year mortgage for 2.1% and a 30-year mortgage at 2.61%. Of course, they don’t mention points.
I went online and did an initial application with one of the largest online mortgage companies and they promised me a rate of 2.67% in their Mortgage Approval Letter. We both have FICO scores near 830, steady jobs, good income and no debt.
I would like to use a local company instead but will the small mortgage broker referred by friends be able to compete with the big online companies for rates? What is your experience?