San Diego, CA (PRWEB) August 15, 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. A newly released article on the website gives tips for borrowers on how to sift through today’s mortgage interest rates in order to find the best deal for their situation.
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.”
The first place that Loan Love suggest that borrowers look to find the best rates is the internet. The article says: “The absolute number one way to find the best rates today is by conducting a search online. LoanLove features an easy-to-use “compare rates” feature that allows you to, well, compare rates to help you find the lowest rates from lenders across the country. Just be aware that once you find a low rate, you still need to do some homework – researching (again online) customer reviews and learning about any “fine print” that may reveal certain fees or costs associated with the loan.”
Secondly, the article suggests that those who have an established relationship with a bank or credit union should check out those sources to find the best rates. Often local banks provide discounts to those with multiple accounts and credit unions will have special rate for members. If the borrower is not connected to a credit union the Loan Love article suggest looking for one either online, through the borrowers job, professional affiliates or alumni associations. The article states: “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 the article suggests that borrowers seek endorsements from their own networks of family, friends and basically anyone that they are acquainted with and with whom they can start a conversation with. The article does warn however, “…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.”
For more information on interest rate trends and how to find the best rates, please visit LoanLove.com.