What are the best sources of home loans or mortgages?
Many entities, including banks, credit unions, savings and loans, insurance companies and mortgage bankers make home loans. Lenders and terms change frequently as new companies appear, old ones merge and market conditions fluctuate. To get the best deal, it’s a good idea to compare loans and fees with at least a half a dozen lenders. Because many types of home loans are standardized to comply with rules established by the Federal National Mortgage Association (Fannie Mae) and other quasi-governmental corporations that purchase loans from lenders, comparison shopping is not difficult. Be sure to ask for the same size, type, and length of mortgage — such as a 30-year fixed term mortgage for $300,000 — so you’re comparing apples to apples. Fortunately, mortgage rates and fees are usually published in the real estate sections of metropolitan newspapers, and are increasingly available on online mortgage websites. You can also work with a loan broker, who is someone who specializes in matc
Many entities, including banks, credit unions, savings and loans, insurance companies and mortgage bankers make home loans. Lenders and terms change frequently as new companies appear, old ones merge and market conditions fluctuate. To get the best deal, compare loans and fees with at least a half a dozen lenders. Because many types of home loans are standardized to comply with rules established by the Federal National Mortgage Association (Fannie Mae) and other quasi-governmental corporations that purchase loans from lenders, comparison shopping is not difficult. Be sure to ask for the same size, type, and length of mortgage — such as a 30-year fixed term mortgage for $300,000 — so you’re comparing apples to apples. Fortunately, mortgage rates and fees are usually published in the real estate sections of metropolitan newspapers, and are increasingly available on online mortgage websites. You can also work with a loan broker, someone who specializes in matching house buyers and appro
