Home Loan Tips #6

Do your homework and look beyond the banks

There are literally hundreds of home loans avalibale these days and all have different rates, fees and features. In this current climate of lending the customer is spoilt for choice and this means that it will really pay to shop around. Your best first step would be to do your research and find out what lenders are offering (the real nitty gritty of the loan not the flashy stuff like a free TV) and how that compares to other sites.

A great way to research these days is on the Internet. A simple google search (I have a google search box at the top right hand side of this blog if you need it) for "home loans"or "comparing home loans" will yeild hundreds of results. Some of the pages you will find will literally compare every loan available to you and will tell you all about their features.
Lastly consider smaller lenders such as credit unions, building societies, mortgage originators, community banks and online or telephone banks may offer better interest rates or lower fees than the big banks because they want your business. However always be sure to check out unknown/small mortgage brokers thoroughly and always read the fine print!