Focusing Solely On Rate Could Cost You Later
Getting a good rate on your mortgage is important, no arguing with that. But it is also important to look at, and understand, the other terms of your mortgage, such as:
- What are the prepayment privileges?
- Can I break my mortgage early?
- How are the early payout penalties calculated?
- Can I transfer my mortgage to a new lender?
- Can I take my mortgage with me to a new property?
Ignoring these other terms could end up costing you over time, both in money and convenience.
Please click the following link to continue reading...Mortgages: Rate Is Important, But Don’t Skip the Fine Print
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John Freeland Smith
Posted by John Freeland Smith
on May 27, 2013