QWith So Many Choices Of Lenders For A Refinance Loan In My Town And Online, Where Should I Look For The Best Mortgage Refinance Rates?
AGenerally, the online lenders will be able to beat out your local lenders at every turn when it comes to offering lower interest rates and fees. This is partially because the online lending environment is a bit more competitive and partly because online lenders don't have nearly as much overhead as your traditional brick-and-mortar lenders do. When searching for the best mortgage refinance rates, do your homework. Contact your local lenders and see what their rates are at and then log on to the Internet and see what the various online lenders are offering. Make sure to look at the total APR and not just the interest rates alone and try to be sure that you are making an apples to apples comparison whenever you're reviewing the rates of different lenders. Since as little as a fraction of a percent can equate to thousands of dollars in savings, you'll want to be absolutely sure that you check into all of your options prior to committing to a specific lender. With a financial decision as big as a mortgage refinance, you don't want to suffer any buyer's remorse.