· Most buyers don’t shop around for a mortgage
· Choosing the first mortgage option offered can be a costly mistake
· Keep this list in mind when mortgage shopping
Did you know that if you don’t comparison-shop for mortgages, you could be leaving money on the table? A recent survey completed by PenFed, a credit union, showed that two-thirds of mortgage applicants did not shop around. This can prove to be a costly mistake. In fact, a Freddie Mac study indicated that buyers can potentially save $1500 over the life of a traditional loan by simply getting one additional rate quote when mortgage shopping.
If you’re in the process of buying a house, or plan to do so in the near future,...
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