{"id":15823,"date":"2019-08-08T11:58:27","date_gmt":"2019-08-08T11:58:27","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15823"},"modified":"2019-08-08T11:58:29","modified_gmt":"2019-08-08T11:58:29","slug":"shop-around-for-a-mortgage-or-its-your-loss","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/shop-around-for-a-mortgage-or-its-your-loss\/","title":{"rendered":"Shop Around for a Mortgage or it’s your loss."},"content":{"rendered":"

Shop Around for a Mortgage or it’s your loss.<\/h2>\n

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\"Shop<\/a>

Shop Around for a Mortgage or it’s your loss.<\/p><\/div>\n

 <\/p>\n

More than a third of home buyers say they did not shop around before selecting their mortgage lender, according to new findings from Fannie Mae\u2019s National Housing Survey. That may mean they\u2019re missing out in thousands of dollars in savings.<\/p>\n

Real estate professionals, with family and friends, may be among the most influential sources of advice regarding lender selection, notes Doug Duncan, Fannie Mae\u2019s chief economist, in a new column at Fannie Mae. As such, they may have a key role to play in encouraging homeowners to seek multiple offers when mortgage shopping.<\/p>\n

Recent buyers surveyed say they received only one quote because they were more comfortable with the particular lender they chose. They also said they had less concern with competitive terms when selecting a lender and put more weight on other priorities like customer service responsiveness, and having an account with a lending institution.<\/p>\n

Comparison shopping for a mortgage can also be time-consuming and complicated. \u201cSimply evaluating the \u2018price\u2019 of a mortgage involves looking at several interrelated components\u2014including rates, fees, and points\u2014and making an assumption about how long a borrower will stay in that mortgage,\u201d Duncan notes. \u201cWhile it\u2019s easy to find \u2018teaser\u2019 rates advertised online, a true mortgage quote is based on a handful of variables that are unique to each buyer and evaluated differently by each lender.\u201d<\/p>\n

Credit history, down payment, and the ratio of monthly debt payments to income are usually given the most weight in determining a mortgage offer.<\/p>\n

But home shoppers may want to factor in the potential cost of failing to shop around. A separate study from LendingTree<\/a> released earlier this year found that home buyers stand to see a median lifetime savings of $40,959 in interest on a $300,000 loan by comparison shopping.<\/p>\n

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Source:<\/div>\n
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Fannie Mae<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Shop Around for a Mortgage or it’s your loss.     More than a third of home buyers say they did not shop around before selecting their mortgage lender, according to new findings from Fannie Mae\u2019s National Housing Survey. That may mean they\u2019re missing out in thousands of dollars in savings. Real estate professionals, with … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-15823","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nShop Around for a Mortgage or it's your loss. - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"Shop Around for a Mortgage or it's your loss.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/shop-around-for-a-mortgage-or-its-your-loss\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Shop Around for a Mortgage or it’s your loss.\",\"datePublished\":\"2019-08-08T11:58:27+00:00\",\"dateModified\":\"2019-08-08T11:58:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/\"},\"wordCount\":338,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/08082019.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/shop-around-for-a-mortgage-or-its-your-loss\\\/\",\"name\":\"Shop Around for a Mortgage or it's your loss. - 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