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Hi there. I have a few different contacts you could call to get quotes. I'll send them to you in a direct message. I know rates change daily and I'm no mortgage lender, but I think if you were to lock in today, you could see rates below 5.5% on a 30 yr fixed. Obviously, you'd have to verify that with them, and they would not be able to guarantee it would hold or drop from there over time. If you were looking at a jumbo loan it would probably be somewhere around 6.25%. I do know rates have been the lowest they have been in a couple of years.
Some of those "no name" places can offer rates as much as 0.25% to 0.5% lower than the banks. Most are brokers that scour the wholesale market to find the best program for your situation, and if you follow what I preach in the Mortgage sub-forum and negotiate the "broker" or "front end" fee down to 1% of the loan value or $2,000, whichever is less, and the back end "yield spread premium" to no less than half a point, you should get a heck of a deal, especially as low as the rates are this week.
Be careful when dealing with mortgage bankers in Pittsburgh. I've been burnt several times and have now realized that the best way to get a mortgage in Pittsburgh is to let two different banks compete for your loan.
That way, they'll both tell you what the other bank is doing wrong, and trust me, mortgage lenders pull out every trick in the book.
I've had bad experiences with:
First Vanguard
Urban Mortgage (the jerome bettis one)
S&T Bank
Good experiences with:
Chase in the Southside Works
PNC Bank
Again, make sure you use at least 2 mortgage lenders and let them compete for your mortgage. You'll definitely get the best rate possible and if you're a first time homebuyer, look into the different grants PA offers.
Type in "loan in pittsburgh for little money down" in google and you'll see different grants come up.
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