Wells Fargo Home Mortgage and Wachovia Mortgage. Great rates, minimal paperwork, intelligent banking staff. Well, foremost you will have to make sure that the mom and pop place will be able to come thru at the end. There are a lot of brokers that claim that they can get the deal done only to leave you dead at the closing table. Brokers usaully work with various lenders who tailor their products to different types of clients. In the case of GMAC, they probably prefer a more qualified borrower and simply deny the loan rather than send you to their competitors. REALLY, I MEAN REALLY not a good idea unless you own a crystal ball and can tell what the market is going to be like in the future. Properties are declining rapidly and you might buy at 100K and find out 5yrs later that it is only worth 90K. Watch the market and save more money and clear up or build your credit.