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Shop for the best mortgage rates before you buy

There are many different types of mortgage loans on the market today, as well as hundreds of different Mortgage Lenders willing to lend you money. Doing your homework could save you thousands of dollars in the long run, but keep in mind there is a lot more to the cost of a mortgage loan than the interest rate, such as points or other fees.


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Mortgage Shopping Tips

1. When shopping for a mortgage lender, you should evaluate the terms, penalties, and points in addition to the underlying rates.

2. Make sure there are no prepayment penalties.

3. Choose a shorter term loan if possible (i.e. 15 yr vs. 30 yr term).

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