Mortgage Secrets Experts Don't Want You To Know
The Power of Shopping Around
One of the best-kept secrets in the mortgage industry is the importance of shopping around for the best rates and terms. Many borrowers make the mistake of settling for the first offer they receive, often from their current bank. However, by taking the time to compare rates from multiple lenders, you can potentially save thousands over the life of your loan. According to a study by the Consumer Financial Protection Bureau, borrowers who compare just three lenders can save an average of $3,500 over the first five years of their mortgage1.