Posted on: 01st Nov, 2011 10:38 pm
Is it a good option to shop for mortgage? I will be investing my time to shop around for a mortgage. Will I get good returns for this investment?
Hi Norton,
It is always a very good option to shop around for a mortgage. Also, it should be noted here that the gains from shopping have actually increased in recent years. If you shop around for your mortgage, you will be able to know what type of rates and terms are offered to you by the lenders. This will help you to choose the best deal available in the market.
Thanks,
Jerry
It is always a very good option to shop around for a mortgage. Also, it should be noted here that the gains from shopping have actually increased in recent years. If you shop around for your mortgage, you will be able to know what type of rates and terms are offered to you by the lenders. This will help you to choose the best deal available in the market.
Thanks,
Jerry
Hey Norton,
Shopping around for almost anything is a good idea, especially something that is costing you what could be hundreds of thousands of dollars. Choosing a wrong mortgage could lead to you defaulting on the loan and the house being foreclosed. Always shop around, browse your options and play hard to get with lenders.
It's always better to hire a Mortgage Broker to assist you with the shopping around as they can find much lower rates and better plans by browsing through a network of lenders.
I hope this helped out!
Shopping around for almost anything is a good idea, especially something that is costing you what could be hundreds of thousands of dollars. Choosing a wrong mortgage could lead to you defaulting on the loan and the house being foreclosed. Always shop around, browse your options and play hard to get with lenders.
It's always better to hire a Mortgage Broker to assist you with the shopping around as they can find much lower rates and better plans by browsing through a network of lenders.
I hope this helped out!
Hello Norton,
There is no set best rate for home mortgages. You should shop around and see what offers you receive from different lenders and find out which is the best for you out of all of them.
And Yes! You can choose your own mortgage insurer, as long as they are approved to do business with your lender. Ask your lender for the premium from each carrier that they do business with. For borrowers with good credit the premium is virtually the same, but if you have poor credit the premium can vary greatly. Also a few MI companies offer little perks if you get your insurance from them, so it is worth your time to at least ask. Not all loan products are insured by all carriers so you will have to ask your loan officer what choices you have for the type of loan you are getting. Once you have closed on the loan, you cannot change your mortgage insurance carrier.
:idea:
There is no set best rate for home mortgages. You should shop around and see what offers you receive from different lenders and find out which is the best for you out of all of them.
And Yes! You can choose your own mortgage insurer, as long as they are approved to do business with your lender. Ask your lender for the premium from each carrier that they do business with. For borrowers with good credit the premium is virtually the same, but if you have poor credit the premium can vary greatly. Also a few MI companies offer little perks if you get your insurance from them, so it is worth your time to at least ask. Not all loan products are insured by all carriers so you will have to ask your loan officer what choices you have for the type of loan you are getting. Once you have closed on the loan, you cannot change your mortgage insurance carrier.
:idea:
