You know what you are currently spending for housing (whether rent or a house payment). As you plan for your new home, a Mortgage Calculator can give you an idea of the new amount you’ll need to plug into your monthly budget.
Why compare mortgage rates when you aren’t getting all the facts?
- Mortgages aren’t free
- Every lender, bank and broker are in it for money
- Big banks have higher costs and higher interest rates
- The rate you see isn’t necessarily the rate you get. Read the fine print.
- Advertised rates online will be putting on their best face – hiding discount points that might just end up costing you more.
Getting a low mortgage rate is important, but it’s most important to calculate the end result of that rate, incorporating associated costs and length of the loan. Working with an experienced mortgage banker is the only way to assure that you’re getting the best deal for your financial future.