When shopping for a mortgage, comparing quotes from multiple lenders can save you thousands in interest and get you better loan terms. The speaker walks through why getting a second opinion on your financing matters.
The experts advise getting at least two to three different home loan quotes before preparing for your financing. I mean, you look at different houses, you should also look at different home loans. Same kind of idea. It's a big ticket item. And we did a study last year that showed, on average, compared to the big banks and lenders, we saved the average client $9,600 over the course of their home loan. That's a combo of a couple grand less in upfront fees and lower rates, which means lower payments. And that adds up the combination, almost $10,000 in savings. So there is a big importance in comparing your numbers. And second to that, we've also seen many times where another lender's already reviewed a file and they're calculating the debts or the income one way. And we can tweak and maneuver those numbers a little bit more because we have 200 different lenders that we get to look through, and they all have different guidelines on it a little bit. That could open you up to a whole different price range of house. That could be the make or break on getting the payment affordable and getting the right price range. But it all starts with a comparison, and there's no downside to these. Doesn't cost anything, doesn't ding your credit. We can do a soft credit pull. So no downside, a huge upside. That's what we advise comparing.
