Looking for the best deal
When my friend still owned a condominium, her mom always asked her to help seek for the best deal for home mortgages. Her mom intended of selling the condominium and in exchange of buying a new house and lot using a new mortgage plan. Her financial status changes every six weeks, her mom reminded her to always compare mortgages to confirm that the choice will be the good one, that is, the choice that will suit their needs — budget and situation.
Her mom always tell her that taking mortgage is a tremendous responsibility because it is a financial and may be lifelong commitment. I remember she spent 2 months just to research and find the best mortgage. She is already on her 5th month with her current mortgage company. She never experience any trouble, whatsoever.
It was a very good learning experience for me as well. During the time of her research, she would let me do the computer researching for cheap mortgages(thanks to Google and other search engines). I ended up understanding the difference of fixed rate mortgages, variable rate mortgages and even the discount rate mortgage. Overall, my friend had no problem with the credit history. So she did not find hard time talking to mortgage companies.
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