First Time Home Buyer – How to Research Mortgage Rates

Rates can be really deceptive If I pick up the phone and call five financial institutions, I might get five different rates

So the rate is just part of the equation When you apply for a mortgage, there's a rate and then there are fees that you pay on top of the rates and those fees vary by institution Today the rate is something, tomorrow it might be something else The rate itself is not as important as making sure you're in the right program That the fees that you're paying are reasonable

With credit unions, not just Universal 1, but all credit unions, mortgage insurance is less, so you need to become an informed consumer If you're a member of the credit union you can rate shop, come to us first, find out how it works, find out what fees you're looking for and then if you feel like you need to, you can compare, but bring it back to us so that we can look at it If it's a better a deal, we'll tell you, normally it's not because you're a member, we're working for you