Financing

Getting the Best Rates for Your Mortgage

Naturally, you want to get the best deal for the least amount of money. This holds true for mortgage rates as well.

A lower interest rate means a lower monthly mortgage payment, which can save you money in the long run. Also, it is easier to qualify for a lower payment than a higher one.

With the advent of the Internet, much of this information is readily available online. One of the companies we have found with the lowest mortgage rates and the best closing cost is Key Mortgage Inc. Their website is www.keymortgageinc.com or you can contact them at 734-451-0100.

Rates change quickly. That great rate you find today might not be there tomorrow. Once you find the rate you are looking for, submit a loan application and lock in that rate. When comparing loans, make sure that you’re comparing loans of the same type.

Ask the lender for a statement detailing all fees associated with the loan. Factors such as “points” (loan fee), interest rate and “garbage fees” (extra fees which some lenders charge) can vary greatly from one lender to another.

Loan Payment Calculator
You can use the Loan Payment Calculator to find your monthly principle + interest, your monthly taxes, your monthly insurance, and your total payment.
Length of Loan in Years:
Interest Rate: %
Loan Amount:
Annual Property Tax:
Annual Insurance:
Monthly Principal + Interest:
Tax:
Monthly Insurance:
Total Payment:
DISCLAIMER:The information found in these calculators are to be used as a guide and is deemed reliable but not guaranteed. Please schedule an appointment today to find out more information about your loan.