Picking a lender? It’s not always about rate

Written by: Andrea Jolly

 

If you are buying your first home, chances are you are going online to check out mortgage rates. The big
question most people have is “should I choose fixed or a variable rate mortgage”? And while that is a big
decision, it isn’t the only one you should be thinking about.


Each lender has their own rules and restrictions when it comes to pre-payment and penalties. Knowing
the difference could save you thousands.


How are penalties calculated you ask? Here is a scenario comparing two lenders with the same rate.

Let TheRedPin Mortgage Team review all of your options before you make this important decision.

All Posts
×

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OKSubscriptions powered by Strikingly