1. Professional Package Discounts.
If you are making more than $50,000 a year, or have a spouse and you are making $80,000 or more a year, ask about the professional packages. Home loan rates are usually discounted by 0.5% on the loan you choose.
2. Fixed Rates.
When home loan rates are rising, a fixed interest rate may be attractive. Having a fixed-rate home loan will lock you in for a fixed-term and can be less flexible than variable-rate home loans. Fixed-rate home loan interest rates are for borrowers who value the certainty of knowing exactly what the future payments will be. Investors and home loan borrowers on tight budgets, like fixed interest rates. When a borrower tries to beat interest rates that are rising by picking the right time to lock into fixed interest rates, they are taking a risk in hopes home loan rates will go up in the future.
3. Credit Unions and Community Banks.
You can get some of the best home loan rates from credit unions and community banks because they are anxious to earn your business and are competing with big banks.
4. Comparison of Home Loan Rates.
Home loan lenders must now include "comparison rates" in their advertisements for their home loans to help consumers to see what the total cost would be with fees and interest. It's best not to rely solely on comparison home loan rates. They don't know what the best home loan is for your financial situation. Only you can decide on what the best home loan rates are for your circumstances.
Take Advantage Of Today's Internet Tools And Resources
With today's Internet resources, tools and information, the consumer has an advantage when shopping for the best home loan rates.
Lenders are offering more competitive rates, so definitely shop
around. Take time to review all the options available and you can save yourself thousands of dollars.
Is your credit less than perfect, check out sub
prime mortgage loans.