Do Your Homework Before Getting a Mortgage

Why it pays to do your homework before you get a mortgage. Aside from being the biggest financial decision you’re likely to ever make, mortgages are extremely complicated. There are enough choices, terms, fees, documents, rates, down payment options, etc. to make your head spin. And if you happen to make the wrong decision about even a tiny part of your mortgage, it could end up costing you thousands of dollars! For instance, you might be tempted by a low rate that could actually cost you more down the road because it comes with restrictive pre-payment options and penalties. Similarly, you might qualify for today’s…