Check APRs before taking online plunge
Online mortgage companies have finetuned the art of luring customers and sometimes, you could end up in big trouble if you are not careful when dealing with these firms. When you consider closing costs and other finance charges, mortgages from online companies may not be the bargain that you as a home buyer is expecting. Zwire.com reports:
"Yes, you do get your fixed rate at the 6.5, or whatever it is, but how much the fees-the prepaid finance charges-are shows you what you’re really paying right up front. And that’s what people are to compare with other lenders," said Jeanie Reiswig, loan officer at Central National Bank, Hillsboro branch.
Read more: Compare APR when shopping for a home mortgage
If you enjoyed this article, please bookmark it at del.icio.us »