Can someone list the most important points to use to compare lenders for a mortgage?
I know I want a 30 year fixed with about 7-10% down on a $220,000 house. What other specific criteria do I need to look at to be sure I'm getting the best, or at least a good market deal? Please explain the major criteria. Thanks!
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
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It wants to combine two multipage forms (both required by law) into a single easy-to-read form that's shorter and more useful to home buyers trying to compare loans. The bureau could propose new rules for mortgage disclosures as early as this fall.