Don't hesitate to negotiate when you are obtaining a home purchase loan. Here are some easy guidelines to follow that may save you hundreds or thousands of dollars.
* Ask the lender to put in writing all the costs and fees associated with your home purchase loan.
* See if your lender or broker will lower any of the fees, or even waive them.
* Find out if the lender or broker is willing to lower your interest rate or tack on fewer points.
* If you can reach an agreement, make sure that one fee is not being decreased as another one goes up.
* Finally, get a written lock-in from the lender or broker to guarantee the terms will not change and mortgage rates will stay the same. Lock-ins are good protection from rate increases. But if rates fall you are stuck with the rate you negotiated.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Ask a Question

Not finding the advice and tips you need on this Mortgages Tip Site? Request a Tip Now!

Guru Spotlight

Barbara Gibson

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!