Exclusive Buyer

affordability. However, don’t forget to include your mortgage broker in this process, as he or she is the one who will be able to give you the best advice and options, as well as help determine the best loan for your needs after the calculations are complete. Now that you’ve identified the house that you want to buy, and you have a professional mortgage advisor, how do you get the best mortgage deal? COMPARE INTEREST RATES When shopping for home loans and looking for the best deal, the first step involves a comparison of the different interest rates. As mentioned, rates can (and do) change regularly, and sometimes quite quickly, so it’s important to stay on top of this. If you’ve hired a mortgage broker, you’ll already be at an advantage for finding a good deal based on their current, up-to-date knowledge of the housing market and changing interest rates. It’s fairly straightforward to get mortgage interest rate quotes frombanks andmortgage lenders, sincemost of these companies offer their services, including updated interest rates, online. Generally, you want to be looking for low interest rates, but your broker can advise you re: more of the specifics. However, it’s important for buyers and their brokers to compare not only the different interest rates, but also all the associated fees, along with the interest rates, including origination fees, points, and any other fees that the lender might include in the deal. For example, any loan that’s regarded as a “no-fee loan” means that all fees have been included in the rates. Even if you’ve hired a mortgage broker to help you sort all this out, and to help you compare interest rates and find the best home loan and mortgage deal for you, you still need to be involved in the process and do your own due diligence. This