How can I tell if I am getting a fair deal for my mortgage loan?

Is interest rate everything in a loan? are u suppose to negotiate with lender? tips?How can I tell if I am getting a fair deal for my mortgage loan?
You can always negotiate mortgage terms. Origination and interest rate are negotiable. Remeber that the loan broker has a family and a job as well. On that note if they wish to continue to do buisness it is in their best interest to take care of you. Origination points are not the only area of concern. Title companies overcharge at times as well and less shopping is done for them. There are sometimes junk fees on the loan as well. If you want me to look at it (licensed mortgage broker) I will. I have nothing to lose if you are not in a state I do buisness and if I am I will walk through the shopping process. Smart customers always shop but you need to know what to look for. Let me know.How can I tell if I am getting a fair deal for my mortgage loan?
get a second opinion!!!


always get second opinions
You should have all the paperwork looked at by your attorney who deals with real estate law. Your local paper has a section that lists the average rates for your area.


Make sure to do a title search on the property for liens etc...


The lender makes you an offer.You can shop around by taking that offer to another and see if they will beat it but beware of any type of a balloon loan that starts out low and jumps the next year etc...
Get quotes of rates and fees from several banks or brokers. You will see who is trying to get you with the inflated origination fees.
Consult a third party. Compare the numbers.
The interest rate seems to be the most important thing to the owner, but it's not everything. If you're buying a home, getting in the house is the most important thing. Make sure you get a whole house imspection at the least if you're buying. If you already own the home, weigh your pros and cons. What are you refinancing for? Do you need cash from your home for something important? If consolidating your credit cards or loans will save you money monthly, even though you might refinance into a higher interest rate, then it might be beneficial to you. If you're refinancing to get money to take a vacation, then it may not be wise.. especially if you have a fixed rate below 6% now.





You can always try to negotiate, some lenders will come down, and depending on the difficulty of your loan, some may stay put. Remember though, this is their job.. They don't make all the money they charge to do a loan.. only a percentage of their fee, so as long as the fees are reasonable you're probably getting close to the rate you qualify for.
the short answer is to get a real estate attorney