San Diego, CA (PRWEB) September 19, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. In order to help their readers better understand how to find the best mortgage interest rates LoanLove.com recently released an article that gives some tips on where to look and what to look for when trying to pin down a great loan rate.
The article says: "Looking for the best mortgage rates? You’re in good company. If you’ve been doing your research on how to find the best mortgage interest rates, you know that even a single percentage point in your mortgage rate can mean savings of tens of thousands of dollars over the life of your loan. More than a single percentage point and you could be talking about a savings of hundreds of thousands of dollars. But just because you understand how important it is to get the best rate possible doesn’t mean you know where to look for those rates. Here are the top three places to look-"
The first of these three places that the article mentions is the internet. The online world is full of valuable resources for those who are looking for the best home loan rates, and LoanLove.com, itself, has a lot of great tools that home loan borrowers can use, such as the live rate quote tool which enables visitors to the website to view and compare dozens of different loans that perfectly fit their loan requirements. Once home loan borrower finds a loan that they feel suits their needs, they should also be sure to thoroughly research the option (again, online) in order to make sure that there are no hidden fees that could make the loan option more costly than it appears.
Banks and credit unions might also provide good leads when it comes to finding great loan rates. The Loan Love article states: "If you have an established relationship with a local bank or a credit union, you may be on the insider track to some good deals. Local banks are often willing to provide discounts for customers with multiple accounts and credit unions frequently have special rates for members. Don’t belong to a credit union? Look around – online, through your job, through professional affiliations or alumni associations – and find out which ones you’re eligible to join. While credit unions used to be few and far between, today there are many to choose from, and chances are, you qualify for at least one."
Tapping personal networks is the third tip given by the article. Loan Love suggests that home loan borrowers not limit themselves to only asking family and friends about possible loan deals. The article says: "Don’t limit yourself to family and friends – your coworkers, mail carrier, bus driver, minister or rabbi – in short, anyone who knows you and with whom you can strike up a conversation can be a good candidate for information about good deals. Of course, just because you know and even trust a source doesn’t mean you should take their recommendation; consider these endorsements as new possibilities that need to be researched as thoroughly as you would research any other financial product."
These are just three of the tips that home loan borrowers can use when looking for the best loan rates. For more tips and information, please visit LoanLove.com.