To conclude our seven part series on mortgages, we’re emphasizing the importance of remembering to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper, the Internet, and your personal Realtor are good places to start researching a home loan. You can usually find information both on interest rates and on points for several lenders. Since rates and points can change daily, you’ll want to check often when shopping for a home loan.
Don’t take any one lender’s word for anything. If anything, use the information that one lender provides you with and present it directly to another lender to see if they will beat the terms and the pricing…and then do that again, and then again, until you are confident that you have the best deal possible!