Not a billionaire’s daughter? Find the best mortgage rate to finance your home purchase
Source: Informa Research Services
(12/23/2011) This week, Ekaterina Rybolovleva, the 22 year old daughter of Russian billionaire Dmitry Rybolovlevak, purchased the apartment of former Citigroup chairman Sandy Weill for $88 million. Â Ms. Rybolovleva paid the $88 million in full, which set the record for the highest individual transaction in New York City history. Â For the rest of us who cannot afford to pay for a home in full, finding the best deal on a mortgage to finance a home purchase is key in maximizing the benefits of homeownership. Â Informa Research Services suggests consumers use online resources to efficiently perform this search and quickly locate the best rates offered by lenders who serve their area.
When looking at home loans, most people should look for a traditional 30 year fixed rate mortgage with the lowest possible rate currently being offered. Â A fixed rate mortgage will have the same monthly payments over the life of the loan. Â Hence, homeowners can have comfort in knowing there will be no unexpected changes or increases in what your monthly obligation is each month.
To find the lowest rates currently being offered in your area, look at sites like ERATE.com. Â The rate comparison tables found there take the hassle out of rate shopping!
