Most people, I believe, walk into their local bank, say they need a mortgage, and fill out the paperwork. They reason that they will get a better rate at the place they have their money. Sometimes that is true, but it is an iffy way to make an important financial decision.
Mortgage banker Mark Fitzpatrick shares some insights with us, and what he says makes a great deal of sense. He suggests not just shopping around, but doing so in a way calculated to ensure that all of the potential lenders are using the same assumptions. Only then can you be sure you are getting a good deal.
|Not really helpful to the process.|