Comparing The Best Mortage Rates From Different Brokers
Before you sign on the dotted line, it is important to compare the mortgage rates of different lenders. The best way to get the lowest interest rate is to shop around. If you are in the market for a new home, consider the best mortgage rates from different brokers. Some banks and direct lenders have better rates than others, but you should still shop around. Some banks offer discounts to their existing customers, such as no origination fees and no closing costs.
Another benefit of going through a mortgage broker is the breadth of products available. Many mortgage brokers work with multiple wholesale lenders, which allows them to try different products for different clients. One drawback of this approach is that the conditions of the loan must go through a layer of communication before reaching the underwriting department of the wholesale lender. This extra step adds to processing time, and …
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