Always Shop Around

When financing a home, remember to shop around, to compare costs and terms and to negotiate for the best deal.

Your local newspaper and AdvanceMortgage.NETwork are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several lenders.

Since rates and points can change daily, you’ll want to check your newspaper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the lenders about them.

Our Mortgage Shopping Worksheet may also help you. Take it with you when you speak to each lender or broker and write down the information you obtain.

Don’t be afraid to make lenders and brokers compete with each other for your business by letting them know you are shopping for the best deal.

Do you have problem credit? Don’t let that discourage you. Have you been discriminated against in your search for housing? Know your rights.