How Can You Find The Lowest Mortgage Rates?
Posted: under Financing.
Tags: Allen Davis, Lowest Mortgage Rates, Realestatesearchdirect.com, Technorati
Interest rates are at a historic low, but you still want to make sure you get the best rate you can. So how can you find the lowest mortgage rates?
When Homer Buyer started looking to buy a house, he first figured out what he could afford for a monthly payment. Once that was accomplished he needed to know how much he could pay for a house and have an affordable monthly payment.
He searched online for different lenders and got several quotes, but he came across some unfamiliar and often confusing terms.
They had abbreviations LTV, APR, PMI, PITI, FICO, GFE, RESPA, FHA, HUD.
He didn’t understand why some lenders offered a lower interest rate and yet had a higher APR. Which one was the better deal?
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Mar 27 2009
