Mortgage Shopping 101: Finding the Best Deal

What's Hot

Do This or Your iPhone Bill May SkyrocketSave

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

11 Places in the World Where You Can Afford to Retire in StyleMore

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

32 of the Highest-Paid American SpeakersMake

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

9 Tips to Ensure You’ll Have Enough to RetireFamily

5 DIY Ways to Make Your Car Smell GreatCars

30 Awesome Things to Do in RetirementCollege

5 Spots Where Retirees Can Live for Less Than $40,000Real Estate

10 Ways to Pull Together the Down Payment for a HomeCredit & Debt

10 Ways to Reduce Your Homeowner’s Insurance RatesFamily

50 Ways to Make a Fast $50 (or Lots More)Grow

Part 2 of a 4 part series on shopping for a mortgage focuses on finding the best deal on your mortgage.

Your mortgage loan is probably your biggest debt. But the good news is that with rates still low, you have an opportunity to save some serious cash.

“You’ve gotta be patient. And it tends to force you not to be patient because of the excitement and the anticipation. But it’s very overwhelming but if you follow the path, patiently you can get it done and there’s a lot of reward at the end.”
-Todd Link, Homeowner

Attorney Todd Link’s talking about home-buying process… specifically the process of finding mortgage money: something that should happen long before you see your first house. How do you shop for a loan?

Online is one place to start your search: there are lots of websites out there to help you compare rates and fees from various lenders.

But don’t stop there: check banks or credit unions you’re currently dealing with… especially one you’ve borrowed from before. Check with friends… and your Realtor.

Be sure to shop APR, or annual percentage rate, not just the rate. Because the APR includes some of the fees you’ll be paying. And as you talk to potential lenders, remember the numbers are the main thing… but not the only thing.

“If it’s not somebody you can work with… and I’m not just talking the hard-core numbers, I’m talking about the interpersonal relationship between you and your mortgage broker… I just don’t think it would work.”
-Todd Link, Homeowner

So long before you start your house-hunt, start your mortgage hunt. Get as many names as you can from as many sources as you can think of.

Now once you’ve made a list of the lowest APRs, it’s time for the next step: calling these lenders and pitting them against one another so you get the best possible deal. Stacy will show you how he personally did this just recently… in our next report.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: Taco Bell Is Handing Out Free Food for World Series Stolen Bases

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,674 more deals!