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A Few Tips For Comparing Interest Rates

Do not factor the prepaids or reserves when shopping rates. Do check to see if the mortgage originator is properly disclosing them. However, they are not an actual “closing cost”. The mortgage originator does not have control over how much your property taxes or home owners insurance is. If you’re doing a refinance and have […]

Is APR the best tool for shopping mortgage rates?

APR was created by our government to help consumers select a mortgage or other loan interest rate. It was intended to be a tool that would allow someone to simply compare various loan scenarios and shop lenders for the “best rate” at the lowest cost. Unfortunately, APR is probably not providing an accurate view of what […]