Posted on May 26, 2011.
I know I want a 30 year fixed With about 7-10% down on a $ 220,000 house. Other Specific Criteria What do I need to look at to Be Sure I'm getting the best, or at least a good deal market? The Major Criteria please explain. Thanks!
Lurline Ivener says...
The two most important factors are the interest rate and prepayment penalties. The interest rate will determine how much you'll actually pay for the loan, and a prepayment penalty will take a chunk out of the equity if you decide to sell before the loan's paid off.
Another factor is closing costs, but is not that big of a deal since most lenders offer no closing costs now-a-days.
Posted on May 29, 2011
