San Diego, CA (PRWEB) August 14, 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 a newly released article, Loan Love continues to provide valuable information for those seeking the best home loans by giving tips on how to find the best mortgage interest rates.
The Loan Love 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:”
Loan Love then explains that one of the best places to look for low interest rates is online. Loan Love itself has a mortgage rate comparison tool that can help borrowers find the best rates in their areas, and there are many other tools and resources available on the worldwide web for those looking for a mortgage. Loan Love also cautions, however, that once the borrower finds what seems to be the best deal, their job is only half done. They will still need to do more research, such as reading customer reviews or studying the fine print to ensure that the loan is the best possible option and does not come with any hidden fees down the line.
Banks are another good place to find low mortgage rates. The article says: “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.”
Lastly, Loan Love suggests that borrowers tap their own networks. They also advise that borrowers should not limit themselves to asking only their family and friends. The article states: “…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.”
Using these three tips can help borrowers to find the best possible rates for their mortgage loans. For more information, please visit LoanLove.com to view the full article.