Do You Know How To Find The Best Mortgage Deal?
People will spend months or even years planning to buy their own home. They will work hard to build good credit. They will save a sizable down payment. They will search for the perfect house. Then they will settle for the first mortgage they see.
What is wrong with this picture?
It is important to remember that if you have good credit and a down payment then you are in the driver’s seat when it comes to negotiating a mortgage. You are the dream customer that lenders want on their books. Even if your credit is not perfect and your down payment is nonexistent you are still an attractive client for many lenders.
Repeat this mantra whenever a lender acts as if they are doing you a favor by lending you money: I am going to give them a lot of money. Yes, you are. Over the next five to 30 years you are going to pay a lot of interest to this lender as well as repay the principal they originally put up. They are not giving you anything. This is a business deal and the lender stands to make a lot of money so you need to protect yourself to get the best deal you can.
While most lenders tend to make...