One of your biggest savings when buying a home can come from the simple act of shopping your home loan.
Shopping for the best mortgage can save you thousands of dollars in up-front costs, and many thousands more over the life of the loan.
Most lenders are good people trying to provide for their family within the framework of the company they work for. The fact is, however, some loan originators simply cannot offer you the best rate and terms available to you. What they offer depends a lot on how much volume their company does, how much overhead the company has, and how much profit the originator is allowed to build into or take out of the loan.
You shouldn't feel obligated to work with the first lender you talk with. A mortgage loan is a big commitment. If your first choice isn't a good choice, and you haven't yet made a formal commitment to them, you should not feel uncomfortable selecting a better option. Especially when the financial implications are so large.
Three tips for shopping your mortgage loan:
- Talk to more than one lender.
- Make sure you ask for their best rate AND lowest fees for the type of loan you are considering.
- Make sure you ask for quotes from the lenders on the same day and preferably at the same time of day.
Now you know what to do, go and do it!
If you need help, a good Exclusive Buyer's Agent can help you review loan proposals and make sense of them in order to help you make the best choice.
- Do you have excellent credit?
- Do you plan to purchase a $300,000-$800,000 home within 60 days?
- Do you have a good down payment, or are you paying cash for your next home?
- Do you want an agent on YOUR side throughout your transaction?
- Do you simply have questions about how things work?
Don't work with just any agent. Get YOUR OWN agent!
Call us at (801) 969-8989 or contact us today via the link on this page for a free consultation.
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Salt Lake City, UT - Exclusive Buyer's Agents (EBAs)
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