6 Reasons it Pays to Shop Around Before Choosing a Mortgage
By Ed Hughes, Natick Real Estate
(Andrew Mitchell & Company)
By Paige TeppingRISMEDIA, October 16, 2010--You wouldn't buy a house without shopping around first, right? Then why would you commit to the loan you use to buy that house without making sure you're getting the best deal possible? From the experts at LendingTree, here are six reasons why it's essential to take a few minutes to browse before you borrow: 1. To get the best interest rate possible Over the life of a $200,000, 30-year fixed rate loan, a one-tenth of a point difference in interest rate could save or cost you thousands of dollars. 2. To pay lower loan fees Once your loan application is accepted, the lender will get back to you with a good-faith estimate (GFE), including an itemized list of all the costs associated with the loan. If there are any parts of the GFE that you don't...
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