05/31/2022
The interest rate is a critical factor for deciding on which mortgage lender is best for you. But it’s not the end all be all!
When you’re deciding which lender to work with, make sure to take the following into account along with the interest rate.
-How much are the monthly payments? What fees are rolled into the payments?
-How long is the term? Is it a 15-year or 30-year? Generally speaking, 15-year terms will have lower interest rates.
-Is it a fixed interest rate or is it variable?
-What are the lender fees you’ll have to pay at closing?
Mortgages are complicated. You should make sure you fully understand what each lender is offering because there’s more to them than just the interest rate!
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