100 Questions Every First-Time Home Buyer Should Ask: With Answers from Top Brokers from Around the Country by Glink Ilyce R

Author:Glink, Ilyce R. [Glink, Ilyce R.]
Language: eng
Format: azw3
ISBN: 9780307834508
Publisher: Crown Publishing Group
Published: 2014-11-25T16:00:00+00:00

As we discussed in the previous question, the easy way to get this information is to look in your local newspaper for the mortgage watch column, or go online.

Newspapers often track current lending rates because they know many of their readers either own a home or are interested in buying or selling. The mortgage watch column lists a handful of lenders (anywhere from five to more than a dozen) and their current mortgage offerings. Telephone numbers and addresses are usually provided.

Clip the mortgage watch column for several weeks, compare the prices quoted for various loans, and call up the lenders that seem to have the best deals. At this point, there is no way for you to tell which mortgage banker or broker will be able to give you the best service. All you can go on are price and product.

If you choose to go online, you’ll either have to go to an aggregator, like eloan.com, houseandhome.com, or lendingtree.com, or to an individual lender’s website, or to my current favorite independent site for interest rate information, BankRate.com. Each of these sites should give you the current interest rate. The mortgage sites will allow you to apply online.

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