Comments on: How to Choose the Best Home Mortgage for You

on 4/2/2008 Useful! See also http://hy-homemortgage.blogspot.com

on 1/23/2008 This is a really helpful article. Thanks. I had no idea what points were.

on 8/28/2007 I don't know about anyone else, but, trying to find the right loan, when you don't know anything about loan stuff gets exhausting and you always wonder if there is a better loan, rate or lender out there. I think finding the right loan product should be the first step. We are faced with a mortgage crisis right now because lenders put people in the wrong loans. When doing my mortgage research online I ran across an interesting site called correctlending.com. They do an analysis on your situation and tell you the exact loan to be in. After that you have the option to have lenders who specialize in that particular loan type compete for your loan so you then get the best price. I thought it was a great tool, so, I thought I'd share it knowing that others might feel the same way I did in the beginning.

on 11/22/2005 Brokers get paid two ways, you or the lender. If you can understand that you will pay the broker a fee, it's always better to pay it in up front "points" so that you get the lowest rate. Lenders usually pay the Broker to sell a higher rate!

on 11/22/2005 Brokers are always trying to get you to refinance. Look carefully at all the costs involved. We paid more points up front and got a fixed, 7-percent interest rate when we bought, and that's about as good as it gets for the long term.