San Diego, CA (PRWEB) October 21, 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. Now, with interest rates falling after the government’s debt deal, more home loan borrowers are going to be interested in finding and applying for new loans. But just because rates are lower does not mean that borrowers should just choose the first loan product that comes their way. Loan Love offers some helpful loan comparison advice to help home loan borrowers in a new rate comparison guide.
The first thing that home loan borrowers should do is have a good idea of what they can expect when it comes to mortgage interest rates. An article from Mortgage News Daily which was posted on October 17th, says: “Mortgage rates fell significantly today, returning in line with the lowest levels seen in recent weeks for some lenders. Not every lender experienced the improvement in the same way, however, with some still not back to last week's best offerings. Whatever the case, the average top-tier Conforming 30yr fixed rate is back to 4.25% (best-execution). Interestingly enough, the most comparable day for rate sheets is just before the start of the government shutdown.”
Since these rates are much lower than what has been seen in recent months, there are undoubtedly a lot of people who would like to take the opportunity to lock in a low rate for their home finance or refinance loans. Loan Love’s new guide gives some tips on what these people should look for when comparing the many mortgage products that are available. The article states: “With so many lenders offering mortgage products today, it can be difficult to know which loan is truly the best deal for you. Fortunately, there are a few relatively simple ways to compare mortgage interest rates, and taking the time to explore at least one of them could mean big savings for you over the life of the loan.”
The article then goes on to explain how borrowers can make use of mortgage calculators and also look carefully at each loan’s APR (annual percentage rate) and GFE (good faith estimate) in order to find the loan that offers the most savings over the amount of time they wish to keep the loan. The Loan Love guide concludes by saying: “Comparing the costs of multiple mortgages only sounds like a complicated and time-consuming task; the truth is, any of these simple comparison methods takes only a minimal investment of your time, but the results can yield huge savings for you over the lifetime of your mortgage.”
For more information on how loan borrowers can compare rates and benefit the most from the current low rates, pleas visit LoanLove.com for the full guide.