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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: TheStockFairy who wrote (71914)	2/11/2007 2:30:57 PM
From: orkrious	Read Replies (1) \| Respond to of 306849

Great piece by Kasriel financialsense.com

To: TheStockFairy who wrote (71914)	2/11/2007 3:18:15 PM
From: Broken_Clock	Respond to of 306849

get at least 3 lenders to provide you with a written Truth in lending statement right off the bat. Do that this week as you likely have a set time period to apply for financing. Compare apples to apple, i.e. compare a 15 year fixed rate with 1 point and one point loan origination. Make sure all loan fees are on the TIL. The lowest rate is therefore your best bet. make sure the lockin period is at least a week or two beyond your closing date. Check with local S & L's or credit unions. They will often beat the independent lenders with fixed rates like the above. Do not go adjustable. If rates crater in a year or two you can always refi then. Do anything you can to get a 15 year. It's nice to see the principal drop each month right out the gate.