How to Find the Best Mortgage

Dream Home

How to Find the Best Mortgage

Just throwing yourself into the real estate market, you have no idea what’s considered a good mortgage offer and what’s considered a bad mortgage offer.

For any other product, yоu саn easily search different рrісеѕ and look up buyer rеvіеwѕ. Unfortunately, with mortgages, every person is different; individuals with higher credit scores will qualify for lower rates while individuals with lower credit scores will qualify for higher rates.

What fits best with your lifestyle and budget will also vary from person to person. For instance, would you rather pay it all off at once, or take your time paying back your loan?

Because everyone is different, the best way to see what’s a good mortgage for you is through good, old-fashioned competition. While you can go in person from lender to lender, fill out each of their applications, and wait to see what you qualify for, an easier way to find a good mortgage is simply to shop for one online.

Through our mobile app (Android or Apple iOS), you can shop over 25 different lenders just by filling out one application. Instead of going out into the mortgage market, we bring the market to you!

Understanding Online Mortgage Rate Quotes

Interest rates are determined by mortgage product, loan-to-value, amortization period, credit score and more. However, the goal of the game should not be to find the lowest rate possible. Many of the lowest rate products advertised won’t work for everyone, nor will everyone qualify. Sometimes, to get a lower rate, you may have to face sales clauses, higher penalties, and unfavorable prepayment terms. In fact, shopping for a mortgage solely based on mortgage rates could actually cost you more in the long run. It’s like buying a car based on the lowest price, except the car doesn’t offer the features you want, it only has 2 seats, and it needs gas every 20 seconds. In short, to get the best mortgage, it may be worth taking a slightly higher interest rate in order to get better, more flexible terms.

Get the Most Accurate Quote

Getting an accurate quote that truly аррlіеѕ tо уоu requires filling out аn аррlісаtіоn. In order to recommend the best mortgage product and interest rates, mortgage agents will need the following information from you:

  • Your income
  • Your credit score and history
  • The amount of the loan you’re seeking
  • The value of the home and property being financed

Get Additional Help

If you’re looking to obtain a pre-approval before you start looking at houses,  you may not know the amount of the loan or value of the property you want to buy. If that’s the case, our agents can help determine how much you qualify for before giving you a quote on a specific mortgage product.

For any help at all with the mortgaging process, our support team is always on standby to answer your questions and give you advice.

Start your application and get your rate today!