These are the tips by Gerri Willis who is going to update you with the latest trends in the mortgage business.



1. In the current date getting a mortgage can be an expensive deal as the lender might pitch a loan that is more than you need.

2. Go for a traditional fixed rate of 30 tears, instead of a adjustable-rate-mortgage as the ARM might be risky, you can go for a two-step mortgage by paying a fixed rate for the first two or three years and then go for a bounce.

3. APR is the annual percentage rate and is supposed to show you the true cost of your loan including the fees and the points. But the APR can be different for different loan products offered but two different banks. So it is always better to compare the two products to know the true cost of the loan

4. It is very important to shop around to get the right kind of lender by the comparison of varying lending rates.

5. The best deal can be in your hand if you have the best quotes and you impress the new lender by your credit-worthiness.



All these tips are good enough until, but what is more important is to have a good knowledge of the lending market and understand the lending strategies to steer clear when you are just about to strike a bad deal. A free quote from a mortgage adviser might just help you in time of need.