Posted on: 13th Dec, 2005 12:51 am
I am all set to take a home loan. Should I shop for this loan comparing the APR only?
Hi,
Since you are shopping for a home loan, I would suggest that you consider the closing costs, the interest rate etc. Why i am saying this is because while you compare the fees you will find that there are lenders who charge unnecessary fees that add up to your total expenses. So don't only compare the APR. It changes from one lender to another. Also look for loan type, the terms, conditions, think how much you can pay for points also. Only then you should consider taking that home loan.
Thanks,
Jerry
Since you are shopping for a home loan, I would suggest that you consider the closing costs, the interest rate etc. Why i am saying this is because while you compare the fees you will find that there are lenders who charge unnecessary fees that add up to your total expenses. So don't only compare the APR. It changes from one lender to another. Also look for loan type, the terms, conditions, think how much you can pay for points also. Only then you should consider taking that home loan.
Thanks,
Jerry