3 Good Places to Hunt for a Mortgage
Getting a mortgage isn’t easy these days, particularly since many banks have tightened crediting, which is ultimately keeping some buyers out.
More borrowers are turning online to shop for a mortgage, in which they can shop anonymously and still get accurate rates.
According to a recent article on CNNMoney.com, here are three Web sites that will get mortgage-shoppers started (these sites act as a referral source and borrowers will still need to close with a bank or mortgage broker).
* Zillow.com: The best thing about this site is the ability to read reports of other people’s experiences with a lender.
* MortgageMarvel.com: This site updates mortgage rates in real time, so it’s a good place to find deals.
* LendingTree.com: This site matches a potential borrower with four lenders who will offer their best rates. The downside is that lenders will pull credit scores, which could hurt a borrower’s credit.
Regardless on what bank or mortgage broker borrowers use for their mortgage, they should expect to pay an average of $3,118 in fees, according to the article.
Source: CNNMoney.com, Beth Braverman (06/09/2009)
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