assets in that bank, making a deal with that bank may not be a very complicated process. Whereas a bank only has one set of mortgage options, not all buyers fit into them. Mortgage brokers and mortgage bankers are known to offer a wide variety of options making it easier for many buyers to get approved. Working independently and with several financial outlets, brokers and mortgage bankers can find the best loan for the buyer from different lenders. So how do you get the best mortgage? As mentioned above, the interest rate is only part of the cost. You will want to begin by making a comparison of lenders. It’s easy to get quotes from many lenders since most of these companies offer those services online. However you, as the buyer, should be careful to not just compare interest rates. The best option is to compare the interest rates, as well as all the fees, including origination fees, points, and any other fees that the lender might include in the deal. Check out their years of experience and reviews from other buyers. I always tell people to get their list put together and do what they do at the Olympics. Throw out the lows and highs and pick from the middle. Remember what I said before, bottom fishing snags weeds. There are zero point loans and zero-fee loans. Zero fee loans do not mean you will not have other costs such as mortgage insurance etc. and you need to find out if the "no-fees" loans also cover mortgage title costs or other fees you may be required to pay at closing. You have the responsibility of ensuring you understand every aspect of the mortgage deal. Therefore, it’s upon the buyer to interview the person handling the loan. As a new homeowner, it would be wise to remember that monthly mortgage payments aren’t the only expenses that you’ll
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