NLC’s Personal Mortgage Advisors know that the idea of shopping around for a mortgage can be daunting. The fact is, however, that if you don’t shop around intelligently for your mortgage, you’re doing yourself a huge disservice. And we believe that you’ll pick NLC!

If you’ve started thinking about getting a mortgage, you’ve probably been bombarded with conflicting messages about interest rates. On the one hand, you’ve probably heard that interest rates are rising. On the other, you may have also heard that rates are still at historic lows. Both those statements are true, but if it seems like the news of mortgage interest rates is constantly changing, that’s because it is. When you buy, your aim should be to borrow at the lowest possible interest rate from a reputable firm that you trust. Doing so will save you money over the life of your loan. Shopping around for a mortgage can give you an opportunity to keep an eye out for the best rates as they fluctuate from day to day from a lender like NLC that will give you fantastic service.

Our NLC Advisors know that though mortgage interest rates fluctuate, they rarely go up or down by more than a fraction of a percentage point. But a difference of half a point (or even less) can add up to thousands of extra dollars spent over the term of the loan. NLC offers very competitive rates every day, couple with a “We’ll get your loan done” attitude.

Many times, buyers are hesitant to shop around for a mortgage rate because they worry that doing so will negatively impact their credit. These days, the major credit bureaus have agreed to treat all mortgage inquiries as one, if all the inquiries occur within the same period which translates to between 30-45 days, depending on the credit bureau.

Another factor to consider is the fees associated with your mortgage. Most loans come with origination fees and points. Origination fees are used to cover the costs associated with closing the loan, including compensating the loan officer. Points, on the other hand, are an additional fee that you can pay to the mortgage company in exchange for a lower interest rate. As with any other industry, each lender will have their own fee structure.

Most importantly, it is critical that you use a lender that will be with you every step of the way and who can close the loan! NLC prides itself in this. Borrowers aren’t helped by lenders who offer lower-than-market rates but can’t close your loan. We’re with you every step of the way.