Best Mortgage Rates 2013 Has to Offer Can be Found with the Help of

Share Article recently released a guide to help borrowers find the best mortgage rates in 2013. is a trusted destination for current news and expert loan advice and seeks to empower homeowners with first-class knowledge, valuable resources, and connections to top-rated industry professionals. has a mission to help consumers and borrowers alike in obtaining the latest information on mortgage lending trends, the real-estate market and the U.S. financial landscape for the purpose of helping them obtain a home loan they will love. With this goal in mind, the team at recently posted a guide that will help home owners and home buyers to find the best mortgage rates 2013 has in store.

The Loan Love article gives tips on three simple things that borrowers can look at when they compare mortgage rates. As the article puts it: “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.”

The first thing that the Loan Love article suggests that potential borrowers look at is the APR (or annual percentage rate). The APR is the rate you want to compare to see which loan actually offers the best rate over time, since it is closer to the actual rate the borrower will pay when all the associated costs are considered. Usually loans list the posted rate and the APR and because different lenders may have different fees associated with their loan products, the APR could make a big difference even with two loans with the same posted rate. also suggests that those looking for the best rates take advantage of mortgage calculators. These handy mortgage calculators take basic information – usually the loan amount, the associated interest rate and the term – to quickly determine the monthly payment the borrower would expect and provide them with an amortization table that shows how their loan balance will change during the life of the loan. Different calculators have options to add property taxes, home insurance and other costs in the cost estimates so that home owners will have a good idea of their financial obligation that goes beyond basic interest rates comparison.

The last thing that the article advises the borrower to look at is the GFE or “good faith estimate” given after the borrower has been approved for the loan. This is a document that lenders are obligated to provide to the lender within three days of the loan being approved. A GFE contains an itemized rundown of all the fees and costs the borrower can expect to incur if they accept the loan agreement. It is important to note that while a GFE is not written in stone – some items may be a little more or less costly when it comes time to close – lenders are bound by federal law to ensure the items and costs they quote are given in “good faith” – that is, this is a best estimate of related costs.

These three simple things can help borrowers to find the best home loan for their situation. The Loan Love article says: “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.”

For more information on comparing mortgage rates, visit for the full article.

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