8.2. Get the Best Mortgage

Nobody wants to pay more for a loan than they have to. But with so many loan products available (see Chapter 7), it can be hard to know whether you're getting the best possible deal. Should you find the cash to pay up-front discount points and lower your interest rate? Is a shorter term (and the resulting higher monthly payments) worth the lower interest rate and faster repayment? Whether you're looking at a fixed-rate loan or an ARM, this section helps you find the best all-around mortgage loan.

8.2.1. Researching Rates

When you shop for a mortgage, your goal is clear: You want to find the least expensive loan possible. But that doesn't always mean the loan with the lowest interest rate.