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How can I find the best mortgage deal |
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Written by Tamara Schmitt
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Tuesday, 08 November 2005 |
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When comparison shopping among lenders, remember that a lender can structure financing for a borrower several different ways. A lender can charge higher fees and offer a low interest rate while another may charge a slightly higher interest rate with lower fees.
In order to make an 'apples to apples' comparison between lenders, ask each lender what their interest rate is for a zero discount point loan (based on a 30 or 60 day lock period). Then ask each lender what they charge for an origination fee, as well as any other fees they typically charge for a loan, (i.e. broker, processing, underwriting). A reputable lender will not hesitate in answering these questions. |
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Last Updated ( Tuesday, 22 August 2006 )
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