When shopping for a mortgage, we encourage you to compare mortgage quotes from different mortgage lenders.

Pay attention to these aspects while shopping for a mortgage:

Loan application
Rates
Pay attention to rate trends. You can see what current rates are at in your state and nationally here. Although you shouldn’t shop on the rate alone, a lower rate can save you a significant amount of money per month and thousands of dollars over the life of a loan.

Points
Do you want to pay points? Borrowers sometimes pay “discount points” to reduce the loan’s interest rate. It may make sense to buy points if you’re planning to stay in the same home and not refinance for a long period of time. You can use this calculator, to figure out whether paying points makes sense for you. You can also talk through your options with your lender.

Fees
Different lenders will charge different fees. Do you want to pay no fees and minimize your upfront expenses in exchange for a higher APR? Typical fees charged by lenders could include an origination fee, appraisal fee, credit report fee, tax-related service fee, underwriting fee, FHA upfront premiums, etc.

Reviews
It’s very important to pay attention to reviews of the lender you are considering working with and see what kind of service they have delivered to other clients. Zillow offers a lender’s review and has tens of thousands of lender reviews on their site.

Source: Zillow

Lenders

National Pacific Mortgage – 805-543-2727
Envoy Mortgage
Bank of America