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Am I Getting a Good Deal?

Are you a consumer shopping around for mortgage rates and wondering how to choose the best offer?

It’s no secret that shopping around for a mortgage loan can be a bit confusing. Loan officers don’t intend to make loan quotes difficult, it’s just that there are so many options. The most basic choice might be to choose between an adjustable rate mortgage and a fixed rate loan. And even if someone decides to take an adjustable rate loan, there are still more decisions to make: Which hybrid is best? A 3/1? 5/1 or 7/1?

If someone goes the safer route and takes a fixed rate loan, what term is best? What is the ideal combination of lower payments and 
long-term interest? Should you pay points to get a lower rate or maybe you should choose a slightly higher rate and let the lender provide you with a lender credit toward your closing costs.

Once you’ve decided which type of loan is best for you, then it’s time to contact various lenders and get a quote from them. That’s where we come in.

After you’ve received a few quotes, contact us and we’ll help clear the air for you. For a small consultation fee, we can give you our opinion on the route you might consider more than others. With more than 20 years in mortgage banking as a loan officer and an underwriter, we can pull back the curtains. The advice we provide is completely objective. We don’t provide mortgage loans but we can provide you with solid feedback from someone who knows how mortgage loans are made.

How much, exactly, is peace of mind when considering three mortgage quotes for a loan term of 30 years? David.Reed@cdreed.com or 512-924-6076.