Idaho Home Loans

Boise Home Loans

Eagle Home Loans

Meridian Home Loans

Company Info

Mortgage Resources

Featured Tools

Home Loan Articles

Loan Info

Other Services

Far too many homeowners looking to refinance simply choose the first lender they encounter. Most homeowners would benefit from shopping around to get the lowest rate possible.

If you're quoted a rate -- or closing costs -- that seem astronomical, you have the option to get a second opinion from other qualified Idaho mortgage lenders.

Compare the overall rates and closing costs between lenders to determine which would save you the most money over time. Paying a little more upfront might be worth it if your rate is such that you would easily make up the difference over the life of your Idaho mortgage loan, particularly if you plan to stay in your current residence for the forseeable future.

Under new laws, lenders now have to make costs very clear to borrowers, so it's less likely that you'll be swindled. For example, the new Good Faith Estimate that began on January 1, 2010, now requires lenders to spell out loan terms and costs in easy-to-understand terms. Obtaining a good faith estimate from multiple lenders offers borrowers the opportunity to readily compare two loan programs on a piece-by-piece basis.

Some fees, particularly those that are from third parties, are likely to remain the same across lenders and can usually be disregarded during comparison. These include title insurance, recording fees, and escrows.