Mortgage Shopping: What You Need to Know

By Stefanos Chen
| Posted Sep 19th 2011 3:33PM
0 Comments

What Works NowWhile it's true that interest rates are near historic lows, not all home loans are created equal. Depending on the lender you choose, the type of mortgage you apply for, even the time of day you approach your lender, you could be quoted a different price for your mortgage. If you don't compare the rates of at least 3 lenders, you could end up paying substantially more over the life of your loan.

To learn the all the ins and outs of mortgage shopping, watch the AOL original video below.

Also see:
Is That Home Really Worth the Asking Price?
Short Sales: Are They Worth the Trouble?

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
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Filed under: News

Poll

With spring home buying season around the corner, will you consider buying?
Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage.3077 (20.4%)
No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment.5156 (34.1%)
No, I'm holding out for an even better deal.2856 (18.9%)
Nope. It's a renter's life for me.4013 (26.6%)
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