Mortgage Interest Rates Comparison Tool On LoanLove.com Helps Borrowers Find The Best Rates For Their Home Loans
San Diego, CA (PRWEB) July 31, 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. Aside from informational articles, Loan Love also provides many tools and resources for those looking for the right loan. The new mortgage interest rates comparison tool is one such resource that can be instrumental in helping mortgage borrowers find the best current mortgage interest rates.
The rates comparison tool provided on LoanLove.com shows the rates offered by hundreds of Bankrate approved lenders that can be sorted by location, loan amount, desired down payment percentage, credit score, type of mortgage, lender name, estimated payment, APR, APR fees, points and posted rate. Using this tool, borrowers can easily sift through the countless options they have in order to find the lender and loan product that fits their specific needs the best. However, even with this great tool to help borrowers find the best deals, some new home buyers, or even experienced homeowners, are really not sure what to look for when comparing rates. The accompanying article on LoanLove.com helps give some answers.
The article, “Compare Mortgage Interest Rates And Save Big!” 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.” It then offers advice on the three things borrowers can compare or look for when they are trying to determine which loan option is the best. These things are the APR, the GFE and also loan calculators.
The APR is a simple thing to compare just by glancing at each loan option. This rate (the annual percentage rate) is usually higher than the posted rate, as it includes all the associated fees of the loan and thus is the actual rate the borrower will be paying. The GFE (Good Faith Estimate) is a document given to borrowers a few days after their loan application is approved. This gives an estimate of all fees that will be included in the closing of the loan, and some smaller items can on this list can possibly be negotiated. Using a mortgage calculator is a great way to try on different loan scenarios and see which one fits the borrower’s situation the best. They are great comparison tools and the borrower can check out as many scenarios as they want for free.
The Loan Love article ends 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, please visit LoanLove.com.
Kevin Blue, Loan Love, http://www.LoanLove.com, +1 (949) 292-8401, [email protected]
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