San Diego, CA (PRWEB) September 07, 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. With the current real estate market being as volatile as it is, and today’s mortgage interest rates harder than ever to predict because of this, most home loan borrowers are wondering how they should go about finding the best mortgage interest rates. Loan Love gives some tips on the matter in a new blog post entitled “How To Find The Best Mortgage Interest Rates (As Easy As 1-2-3)”
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 article explains that one of the first things that borrowers can and should do when looking for the best interest rates is to do an online search. The internet has no lack of helpful tools for home loan borrowers and one of the most helpful ones in this situation are the live rate comparison generators, one of which can be found right on LoanLove.com. Aside from this there are many other great tools, such as mortgage calculators that can help borrowers to discover the most beneficial and affordable mortgage terms for their situation. Loan Love does point out, however, that borrowers should always thoroughly research any loan options found online and make sure that they are not paying more for the “low rate” because of other hidden fees.
Another tip that Loan Love offers is especially helpful for those who have a good history of transactions with a local bank or credit union. The article explains: “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 another good tip given in this article. Basically anyone that the potential loan borrower knows might have some good leads on great home loan rates, so it really would not hurt to ask around. Lastly, the article advises that borrowers check their local newspaper listings to see if there are any low rates that they have not seen elsewhere. The article says: “It used to be a large regional paper was the only way to find a great mortgage rate; today, the Sunday finance section has been replaced by the 24/7 availability of the worldwide web. But because regional papers often feature time-sensitive deals only available locally, it can still be worth the $1 or $2 investment to see what’s being offered.”
For the full article on how to find the best loan rates, please visit LoanLove.com