For example, do the rates like 5.75% at a big "chain" mortgage company usually end up cost you more than a 6.25% rate at a well respected locally owned bank?
2006-12-10 01:06:21 · 2 answers · asked by Nightflyer 5 in Business & Finance ➔ Other - Business & Finance
No. They don't at all. All mortgages are required to tell you what the APR on your loan is. This combines the interest rate and all costs into 1 rate. This is the rate you should pay the most attention to. Typically broker have higher costs but lower rates.
Always talk to 2 or 3 lenders to ensure your getting a good deal.
2006-12-10 01:20:16 · answer #1 · answered by MR MONEY 3 · 0⤊ 0⤋
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2016-10-14 09:40:27 · answer #2 · answered by ? 4 · 0⤊ 0⤋