How do I get best mortgage rate?

call a bunch of banks directly

Credit unions.

I would also contact a mortgage broker, though the rates may be slightly higher. As a first time buyer, a good one will help "massage" the process and make sure that the loan is attained. I have heard too many bad stories about problems with banks for first-time buyers.

I closed a few months ago - also 30 yr fixed. I called banks directly and also used a mortgage broker. Going through the mortgage broker was not more expensive for me. Michael Calica at Guardhill Financial. Very helpful in the whole process and the brokers/attorneys at closing were impressed at how quickly the financing came through.

Your rate would likely be cheaper through a broker, not slightly higher. The chances of you randomly stumbling upon the right bank on your own that happens to have the lowest rate, given your unique situation, on any given day are low.

A broker can instantly access a huge network of banks and know where to look based on your situation. And since brokers work with banks through their wholesale channels (vs the retail channel when you call them directly) there's no difference in rates/fees even if you're both dealing with the very same bank.

Independent mortgage broker here. No application or credit report fee. I close my loans with Wells Fargo.

www.esfunding.instantlender.com.

Any Credit Unions in NYC that almost anyone can join?

Streetsmart- No appraisal fees too?

sara_se, they make you jump through a small hoop. For example, if you're related (even grandparent/grandchild) to a member, or live in the same household, you can join. Sometimes it's an affiliation with certain employer, Very often if you're a member of some other organization, like the Film Actors Guild, there's at least one credit union that will take you.

Working backwards, you can learn such things as: by joining http://www.pulaskiparade.org/Membershipinfo-2010.htm for $10, you can join https://en.psfcu.com/About_Us_23.html

In other places, even within NYS, just living, working, worshipping, or being a student in a particular county does the trick. Here, it's by neighborhood at best, or bizarre and arbitrary geography, as in http://www.lomto.org/index.php?option=com_content&view=article&id=60&Itemid=55

This one appears to have no specific requirements, but also appears not to offer mortgages:
http://www.nymetrofcu.org/membership.asp
Maybe just a bad website.

What is a realistic rate for 30 yr fixed?

Rates will vary depending on things like is the apt. a coop? is the loan conforming or nonconforming (that is, "jumbo"), and your credit history.

Alan: "Working backwards, you can learn such things as: by joining http://www.pulaskiparade.org/Membershipinfo-2010.htm for $10"

Yes, join me! :) :)

They make you march around every year. Your lot in life.

What would be a ballpark rate for a $2M co-op with 30% down and good credit history 30 fixed

"Rates will vary depending on things like is the apt. a coop? is the loan conforming or nonconforming (that is, "jumbo"), and your credit history."

I was told by one bank agent rates don't go down with good credit score, they only can go up if you have a poor score, jumbo loan, low down payment. So if the bank's rate of the day is 4.5, then that is the best you can get with them.

So was the agent stretching the truth? That is contrary to what Kyle says.