Shop Around for Your Interest Rates and Fees

Shop Around for Your Interest Rates and Fees

It is a smart idea when going through the mortgage process to shop around for the best interest rates and fees. Did you know that you can shop around for many services associated with buying a house? Of course, you can shop around for the loan, such as comparing interest rates and fees, but you can also shop around for other associated costs or services. We recommend that you do this to ensure the best rates and prices possible.

Some of the services that you can shop around for include title work, which is commonly done by an attorney or title company to ensure that you are buying the property free of any liens. Another service that can be shopped around for is surveying to map the perimeter of your property, which is required for the lender. Homeowner’s insurance, as well as a home inspector or an inspection company can also be added to this list.

It is important to note that when you are shopping for interest rates with lenders, do not let more than one lender pull your credit. You do not want to have multiple inquiries on your credit. To avoid this scenario form happening, you can simply tell the loan officer what you believe your credit score is, and then let him or her give you a quote based on the score before making a decision as to which lender you will chose. By doing this, you will be able to make sure that you do not have multiple inquiries on your credit and leaves you with one less thing to worry about. Also, don’t let your loan officer tell you that he or she has some special program and your are lucky if you qualify, since chances are another company has the same program.

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