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Ben Balsbaugh's Blog

By Ben Balsbaugh | Agent in Modesto, CA

Overly Attractive Rates and Shopping

I recently read that 40% of buyers do not shop their lender when applying for a home loan,
according to CAR. That surprised me a bit. When you shop for a new car, do you buy the first one you fall in love with, or do you look for the same car at different dealership? Just to be sure. You may even drive your spouse a bit nuts, trying to find the best deal.

I believe it is important to at least get a couple different opinions and quotes. Getting the best rate possible is vitally important, but it is not the only factor.

Be careful if the rate is overly attractive; quickly ask what fees they charge. Most fees are “standard”, so they should be able to give you a real sense of what you should expect up front. If you do find them to be vague, or dance around the topic, it would probably be wise to walk away.

If you are in the market and need a lender referral, let me know, I would be happy to point you to a couple of great options.

Ben Balsbaugh
PMZ Real Estate
tw: @benbalsbaugh
fb: www.facebook.com/benb360


By Allan Erps,  Sat Feb 26 2011, 12:59
Interesting Post, thanks for sharing!

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