It's easy to underestimate the importance of getting the right mortgage quote. After all, the difference between 6.25% and 6.4% doesn't seem very significant.
When you're dealing with the large amounts of money involved in a home purchase, however, those tiny percentage differences can have a significant impact on your finances.
For example: If you bought a $300,000 home and got a 30-year fixed mortgage at 6.4% (after making a 10% down-payment), your monthly payments would be $1,876.52. At the end of the mortgage term, you'd have paid $545,168.45 for your house.
If you got the same mortgage at 6.25%--with everything else being equal--your monthly payments would be $29 lower. You’d save $348 a year, and over $5,000 on the total cost of your home ($540,045.17).
We will help you find the best type of mortgage for your needs, at the best rates currently available.
