Current home-owner or a future one, we at the Claus Team want to make sure you get the best deal possible on your mortgage, so this information is for everyone! Whether you already made the mistake and over-paid for your mortgage (you’re not alone!), or are thinking of buying a house and need this wonderful advice, listen up.
Millions of Americans have paid way too much for their mortgages according to a Consumer Financial Protection Bureau report released Jan. 15th. The findings show that 47% of Americans make the mistake of not mortgage-shopping before they buy their home.
We know that shopping for mortgages can be stressful, coupled with the fact that you are (or were) incredibly excited to get the ball rolling on the home-buying process. We completely understand. In fact, almost half of us do that! But the experts say there is a much less costly way to go about it. Consumer Financial Protection Bureau spokesperson Sam Gilford explains how this is preventing people from saving money. “Interest rates can span more than half a percent for a conventional mortgage for borrowers with a good credit rating and a 20% down payment,” he says.
For the typical home-buyer, that half a percent translates to $25,000 out of their pocket. Those numbers come from data from the 2014 Census Bureau (November), reporting the average home sold in the United States was around $321,800. Yikes.
Given those statistics, it appears to be beneficial to shop around before you buy. After all, a teensy portion of a percentage can mean thousands of dollars! Before you go on the search for different mortgage rates, gather up some copies of your credit report and decide which type of loan might work best for you so you have a good idea of what you're looking for before you begin to look. From there, calculate what you think you can afford based on your debt and income. Then, apply for the loan through the credit union, banks, and several lenders to get a solid spectrum of rates. There are online sites that can help you compare rates as well, such as Bankrate.com.
After all of that, choose the one that gives you the best rate! It's that easy. 
And of course, then one of our agents at the Claus Team will be here waiting to show you homes and guide you through the buying process each and every step of the way until you land in the PERFECT one! Just please, promise us you'll shop around for mortgages before you settle.
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We use WordPress. We like it so far, especially the streamlined look of it. Thanks for commenting; we appreciate any and all! Have a great weekend. -The Claus Team
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Thank you so much!
-The Claus Team