Quote:
Originally Posted by TOS'd
Anyone use a B Lender/Monoline lender vs an A Lender for their recent mortgage? Seeing differences of 0.30% less on fixed and 0.35% less off variable with monoline lenders. I've always only used A Lenders (big banks) so this is all unfamiliar territory if I were to go that route.
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As my friend who had one says, the devil is in the details.
Bank: immediate support, no funny fees.
Monoline: your on the phone for 4hrs, with someone on minimum wage in regina, that is reading the contract you signed. They tend to have cheaper rates, but if you need anything changed, the fees will get you. And thats what they "bank" on. If you can go 5 years without talking to them, then its worth it.