No Two Fixed Mortgage Rate Comparisons Are Created Equal - Unless Of Course You Ask
You can ask ten different banks to give you a fixed mortgage rate
comparison and no two contracts for your home will be the same.
If you sit down and create a comparison you will notice contrasting terms.
If you make the connection between each fixed mortgage loan rate comparison and spot the differences, I pledge to you that you will be much more informed than most mortgagees like yourself. You have an obligation to your wallet and to free yourself from dishonest brokers that hock loans and want to place a lien on your home.
Use these two tips for every comparison of home interest mortgage rates.
Two Tips To Help You Compare Fixed Mortgage Rates
You probably think that sounds as rediculous as shopping for fresh fruit in a pawn shop. Upon further examination you'll see it's true.
When you call you a loan officer give them two pieces of information so they can accurately compare fixed mortgage rates for you.
First, tell the mortgage broker how many points you want to pay on the mortgage loan. If you don't know what mortgage points are use the google search box below to search this site and other related sites for information on points. Try using the search terms "no points mortgage".
Second tip to calculate mortgage rate comparisons correctly:
Tell the loan officer how long you want to lock in your rate for. To compare fixed mortgage rates you have to know that quotes expire after a certain number of days. The longer you lock in the rate for the higher the rate may be.
Those are two of the biggest mistakes that rate shoppers make when they look to compare fixed mortgage rates. Follow these two rules and you will be well on your way to getting an accurate fixed mortgage rate comparison.
