Shopping for a Mortgage?
Shopping for a mortgage is a key element in purchasing your home. We recommend that you speak with several lenders who will explain the features, benefits, and risks associated with various loan options. You might consider using a shopping worksheet comparing the features and costs of the different loans.
Lenders will likely provide you with an APR (Annual Percentage Rate). You can use the APR as a gauge to compare costs of different loans. However, be careful because the APR does have its limitations.
Please look closely at every cost associated with your prospective loan. Review the mortgage as a complete package when comparing loans. The interest rate offered is a key element, but be sure to scrutinize all charges associated with the loan. Charges to review may include: application fees, credit report fees, document preparation fees, appraisal fees, points, PMI (Private Mortgage Insurance), and other miscellaneous charges.
Questions? Please call us today at (520) 668-5037 or click here.