Shopping for a Mortgage Company
When shopping for a mortgage you first need to understand that, although comparing rates is important, you shouldn’t have your credit
Next, there is a difference between your APR and your interest rate. The interest rate is the actual rate of interest you are paying on your loan. The APR is your interest rate plus the fees included in your loan. It is very important to look over your APR break down to make sure you are not being
Generally, mortgage brokers are upfront with their commissions and how many “points” they are making on the loan. When a mortgage broker says point what he means is percent. To clarify, 1 point is 1 percent of the loan amount. Now, it is also possible for a mortgage to have back end points. This is when a mortgage broker adds points that you pay over the length of your loan rather than up front with closing costs.
Finally, prior to signing your loan paperwork, you should have a professional you can trust look over it. You are generally required to have your signing with a notary public, however, the notary is hired by the mortgage company you are obtaining your loan from so even their opinion can be bias.
Before you apply, understand the process:
Allow us to walk you through each step in researching and obtaining the proper home loan that fits you.
- Mortgage Introduction
- Understanding Your Financial Situation
- Choosing a Mortgage Type
- Shopping for a Mortgage Company
- Getting Your Mortgage Purchase Loan Pre-Approved
- Taking Advantage of Realtor Services
- Finalizing Your Purchase Mortgage Loan
Why is Mortgage Purchase Loans non-bias?
The only funding this website receives is via Google Advertisements. We are not directly affiliated with any mortgage company and although we encourage you to shop with our websites sponsors, we do not recommend any specific bank or mortgage company.
Mortgage Purchase Loans is part of the Secure Link Advertising Network.
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