Best Place to Get a Mortgage?

Croatan_Kid

Croatan_Kid

How's your hammer hangin'?
Joined
Nov 4, 2007
Location
New Bern
I'll soon be starting on my house...finally. Just building a smallish house, not quite 1300 sq ft, but I own the land, so it makes sense. I already have a septic tank, it has been approved, and I have power and water, so we're good there.

Anyway, I've been dealing with NC SECU so far as far as getting information about a mortgage since they're who I bank with. However, I'd like to get a fixed mortgage, but it seems like everybody wants to do an ARM. I could go with them for now with a good interest rate and I'd have 2 years to figure out if I wanted to refinance, but I'd also like to not have to worry about it.

So, since we've been talking about houses a lot lately, who has some suggestions as to who I should check in to dealing with? I have good credit and my loan to value amount will be less than 80%, so I should be able to get as good an interest rate as anyone offers. I'm looking as doing a construction-perm as well to keep closing costs down and I know not every company offers those.

It'd be nice to deal with a local place so I can actually talk to someone if I even need to, but I'm not really opposed to anything as long as they'll give me money to build my house.
 
We are currently working with Truliant FCU on a mortgage right now. They are who we bank with and have been fantastic to deal with! Their branches are mostly located in the Triad area but quite honestly we have been doing everything through mail, web and email.

They offer several loans options and rates are very competitive.

https://truliantfcu.mortgagewebcenter.com/
 
Rates are so low, but on the way back up, I can't imagine going with an ARM.

My experience, from calling and talking to the "loan guy" at places we regularly bank, is you are better off calling a loan guy at a small independent bank who has more flexibility. Our guy works fast and offers up options and ideas. They'll end up selling your loan to a bigger bank, but that's not really a functional issue. Our guy is here in the triangle, but I'll pm you his info.
 
Last edited:
I can't tell you the best place, but I can for sure tell you the worst..... OCWEN. Miserable company to deal with. Our mortgage was originally through Wells Fargo, but it was sold to Ocwen.
 
Do NOT do an ARM!

Go with the shortest fixed term that you can afford.
 
Smaller banks will work with you more easily than larger ones. Like Cyd said, find one that will give you a more personal experience.
My advice is to research both the security (lower payments, longer term) of a 30 year vs the savings (higher payment, shorter term but substantial savings long term) of a 15-20 year loan. Go ahead and plan on adding $xxx per month to your payment directly towards principal and add to that whenever possible.
 
I may need to go take to the guy and gals at First Flight. I definitely don't want to do an arm. I had a hard time explaining to the guy at the bank that if he wants his money every month that I need to know what I can borrow and that my payment will not increase.
 
Ask around in your area for a good mortgage broker. We used a great one in Hickory. We took his offer to SECU, BB&T, etc & no one could even come close! He knew his stuff too. Most of the people at the banks had too many other jobs to balance to know the amount he did. It was Foothills Mortgage if anyone local needs to know.
 
We built last year, and from what I could find no one could touch secu building program as far as our of pocket costs. Their closing costs were super cheap. We didn't like the arm but plan to refinance soon.
 
Back
Top