Choosing the Right Mortgage

A small difference in the mortgage rate eventually adds up to a whole lot of money.  

What do you commonly observe among the following two situations?

·         Hunt for the “dream” home and then go to a mortgage lender (OR)

·         Hunt for the lender and then find the home.

Which of the two do you think is advisable? 

The best option

Often, home buyers hunt for the home before shopping for the right mortgage. Moreover, once they set out to look for the mortgage, they fail to fully evaluate all options. 

It is recommended to do your research and evaluate all of your options before deciding on a mortgage and setting out in search for your “dream” home. Moreover, even a small difference in Massachusetts mortgage rates eventually totals up to a significant amount. 

So, shop for the right mortgage for you rather than settling for the first you encounter.

However, getting the best mortgage deal is equally tricky and challenging. Mortgage rates and fees change daily; sometimes more than once in a day. You may not be able to make the best decision. It is therefore advisable to choose the right mortgage lender that can help you make the right decision. 

You should conduct your own research and know a bit about what’s going on in the market while also working with a trusted lender. The lender can help you evaluate your mortgage options based on your credit score, down payment and other financial factors and give you options to decide from. You want to make sure you are not over extending yourself financially and that you are able to make the monthly payments as to avoid foreclosure.

If you are looking for an experienced mortgage lender, check out Dedham Savings at www.dedhamsavings.com.