Rate is only One Part of Your Mortgage Loan
There is a world of difference between shopping for a great mortgage rate and shopping for a great mortgage loan. Your interest rate plays a part in the cost of financing your home, but there are other fees and charges that add to the overall cost.

Choose a Loan that Complements your Long-Term Plan
Knowing how to correctly analyze mortgage loan costs is an important part of selecting the loan that meets your long-term goals. Be sure to analyze (a) what the mortgage loan will cost you upfront; and (b) the amount of your monthly payments.

Compare Apples to Apples
Upfront fees quoted by lenders vary greatly. A lender may agree to waive one fee, but add another. Another lender may quote one interest rate, and then add or subtract discount points that change the overall cost of the mortgage loan.

Lenders are required to provide information on standard closing costs upfront for each loan program quoted. Always request a written fees estimate when comparing lenders and programs, and make sure the interest rates are consistent so that you are comparing apples to apples. If a lender refuses to give you a written fee estimate, or wants to charge you for the written fee estimate, immediately select another lender. Obtaining a written fees worksheet from a lender does not commit you to taking a loan from the lender, but will allow you to objectively review the charges involved with the mortgage loan.

Be selective in choosing an experienced mortgage loan professional to help analyze how your mortgage loan can help accomplish your long-term goals, and you'll be surprised how your loan can actually provide added security and lasting stability.

Compare Cost of Common Lender Fees

- Loan Origination
- Discount Points
- Application
- Appraisal
- Inspection
- Processing
- Underwriting
- Document Prep
- Credit Report
- Tax Service
- Title Search
- Recording
- Courier
- Notary

If you have questions, call us! We are ready to help! - 720-200-6868