Be watchful of your home loan lender
Tuesday September 30, 2008
Not every home loan lender is looking out for your best interests, so it is a good idea to be watchful of your home loan lender when it looks as if rates are likely to drop. One tactic that a home loan lender may use is to lower rates more than other mortgage companies after one rate decrease, only to lower them less on the next rate decrease. When offered in tandem with an introductory rate home loan that requires a certain level of commitment, this tactic can bring in new customers who will find it difficult to refinance elsewhere for the foreseeable future.
If your home loan lender acts in this manner, it could be a good idea to use comparison pages and home loan calculators to work out whether you would be better off refinancing with other mortgage companies. Reading up on a home loan lender by using home loan lender profiles or similar resources can be helpful in avoiding similarly dodgy home loan lenders in the future.
Please visit our comparison page to compare home loans or browse our site if you would like to read about a specific home loan lender.
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