The Fed's 5 Tips for Shopping for a Mortgage
On July 29, 2009, the Federal Reserve Board issued a new publication, "5 Tips for Shopping for a Mortgage," to help consumers find the mortgage that is best for them. The 5 tips, including advice and helpful links, are:
1. Know what you can afford.
2. Shop around—compare loans from lenders and brokers.
3. Understand loan prices and fees.
4. Know the risks and benefits of loan options.
5. Get advice from trusted sources.