Loans

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Finding The Cheapest Home Loan

Written By: admin - Feb• 13•13

Need Help Finding The Cheapest Home Loan?

Finding the cheapest home loan may seem like a pretty daunting task. However, if you do a little research, you can potentially save yourself tens of thousands of dollars on the purchase of your home.

Check specialized programs first

If I were looking for a home loan, I would first check to see if I could qualify for any type of government program like VA, FHA, etc. These programs usually can offer even lower rates than most banks can. If you can’t qualify for such specialized programs, then I would first start searching local credit unions. Credit unions typically have lower loan rates than commercial banks do. The easiest way to start would be to check online first. If you don’t have any luck getting quotes online, you could simply call some of your local credit unions to try to get pricing.

If you’re unable to find a decent rate a credit union, start searching out low-rate banks. Again, this is probably most easily done online. Once you find the bank that can give you the desired rate on the right terms, see about following up on the closing process at a branch near you. If there isn’t a branch near you, you can most certainly start the application process online for most national banking institutions.

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