Choosing a Mortgage Lender ?
There are many mortgage lenders to choose from. You should evaluate lenders on four key factors: • Interest rates • Closing costs • Product offerings • Customer satisfaction Interest rates Lenders charge different interest rates, so by shopping around, you could find a better deal for your mortgage. Interest rates are fairly consistent between lenders for fixed-rate mortgages, as lenders all base their rates on the national average and other factors. However, choosing a lender with a rate a few tenths of a percentage lower could still save you hundreds, potentially thousands, over the course of the loan. There are more differences between lenders with adjustable-rate mortgages. Lenders customize these loans because they have more flexibility to increase rates later. You should spend more time comparing lenders for an adjustable-rate mo...