So you’re interested in buying a house and you’re looking at home mortgages online. Whether you’ve decided on a fixed rate mortgage, an adjustable rate mortgage or any of the other various types of mortgages offered, there are several things to be sure to look at when comparing the offers.
The first, and most obvious, is the interest rate. Since for the first few years your payment will be mostly interest with little going towards equity, your interest rate is very important. A slight difference in interest rate can make a big difference in your monthly payment. And the larger your loan balance, the larger this difference will be. While 1/8 of one percent might not affect your payment by a huge amount, 1/2 of one percent certainly will. And if your finances are tight, then every dollar will count. One way lenders lower rates is by charging you “points” which is simply money paid upfront in order to get a slightly lower rate. Make sure you are aware of any fees you are being charged as you may have to pay a lot more to get the loan from one lender than from another.
Another thing to look at is the APR. You see it all the time …...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
