Saving Money on Your Mortgage
Ask Questions – Buying a house is a complicated
process. You need to ask enough questions to get the
answers you need so that you can make the right decision
and ultimately save money on your mortgage. Once all
of your questions are answered, you will be ready to
bring your best offer to the table. You can never ask
too many questions. All mortgage expenses, including
closing costs are negotiable.
Get Good Advice – Before you begin shopping for
a mortgage quote, find a friend or advisor who can assist
you by helping you make a list of your questions, and
who will go over the answers you get to your questions
and will help determine which mortgage quote is best
Consider Your Needs and Wants – When it comes
to selecting a mortgage quote, you have a lot of options
available. Begin by speaking with three or four companies
or agents about your needs. Explain to them how long
you think you will stay in your home; discuss with them
the amount of money you plan on borrowing; mention the
amount of down payment you are planning to offer, what
kinds of up-front fees including points, will be required,
and lastly, your credit record and income should be
a part of this discussion.
Find a Good Loan Representative – In today’s
internet-driven world, there are many places to go for
a mortgage quote. Yet it is important to get good service.
Many lenders, no matter how large they are, are operating
with slimmer margins as a result of the great rates,
so they trim down the other services that they provide.
Try and develop a relationship with whomever you deal
with so that they know who you are and are certain to
process your application in a timely fashion.
Know Your Credit – More than one-third of credit
histories have some inaccuracies. Be certain to get
a copy of your credit report prior to applying for a