So Confused pls help regarding who should I deal with? Mortgage Question.?

okay so I need some advice as far as our 350k, FHA loan with 3 % down goes. The first deal I received was thru some loan officer located out of Arizona who gave me a 6.5% rate with 2 points. I heard this was a horrible deal so I decided to shop around especially after hearing that you have 14 days from the first mortgage inquiry to shop around and have other lenders pull your report without it harming your credit because it will be considered one.

I then received a quote yesterday thru but after reading some of the questions and answers that were posted about others experiences I was very skeptical even though they gave me what seemed like a good or better rate than the first guy. For example they gave me a 5.6…% (there were two more numbers after the 6 can’t remember) with 2 points or a 6.25% w no points. I am also interested in seller concession so closing cost and points wont be paid out of pocket.

Not only am I skeptical about the stuff I read here about quickenloans but they are also asking for $ 350 committment fee that will be refunded at closing if we decide to close with them. So if we dont close with them then basically that money is non refundable, which has me feeling trapped and I dont really like feeling that way. What I dont want to happen is I agree to pay that committment fee and then at closing theres a whole bunch of other fees that I did not agree or know about and I back down and they keep my $ 350 fee. Which $ 350 is not going to kill me but who wants to give away money?

So I decided to not pay that fee but I still have them in mind just in case. I called JP Morgan Chase bank and they approved me with different rates. They offered me 5.875% with 2.3..( theres two more numbers after the 3, forgot…again!) points and a 6.125% with 1.5 points. I know Chase is a reputable bank that has been around for a long time and I kind of trust them better then quicken loans but quicken loans does have the better rates so basically im stuck???? I would like some type of advice on what I should do if worst case senerio where it’s either one or the other I have to choose from. I am still going to shop around because I know I can probably do better.

Here are the basics:

-annual combined income: a little over 100k yearly.
-401k combined: 17,364
-been at our jobs over 2 years both.
-combined monthly bills: a little under 1000.00 monthly.
-all three credit scores for him: experian: 643, transunion: 634, equifax: 610
-mine: experian: 684, equifax: 672, transunion: 649

Thanks so much!

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