Real Estate Info & FAQ

Cost of a mortgage

What is the true cost of getting a mortgage? I talk to many people and when the cost of getting the loan done comes up, usually one of the questions is about comparing two different offers. The trouble is that getting two offers structued the same so that you are comparing "apples to apples" is quite hard. There are so many variables that it is hard to set them both equal to each other. In addition, so many of the numbers that go into the deal are not "known" and are only estimates.

I found a great post on Outer Banks Real Estate. In this post, Mr Roach does a GREAT job of line by line comparing one of his loan offers to another offer. The other offer is not fully disclosing the FULL cost of the loan. This is the "apples to apples" problems that I mentioned before.

Thanks Mr. Roach.

Labels: Buyers, Interest Rates

posted by jkballentine @ 8:26 AM