SAN DIEGO, Aug. 18, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. In a newly released article, Loan Love continues to provide valuable information for those seeking the best home loans by giving tips on how to find the best mortgage interest rates.
The article explains three of the best places to look for low mortgage rates. It says: "Looking for the best mortgage rates? You're in good company. If you've been doing your research on how to find the best mortgage interest rates, you know that even a single percentage point in your mortgage rate can mean savings of tens of thousands of dollars over the life of your loan. More than a single percentage point and you could be talking about a savings of hundreds of thousands of dollars. But just because you understand how important it is to get the best rate possible doesn't mean you know where to look for those rates. Here are the top three places to look"
Loan Love explains that the three best places to look for rates are: online, through banks and credit unions, and through the borrower's personal network of friends and acquaintances. Searching online is obviously the first and usually best place to look for mortgage rates. The access to so many different loan products and rates makes this option one of the first that borrowers should look into when searching for the best home loans. The task of searching online for the best rates is made even easier with mortgage comparison tools (such as the one found on LoanLove.com) which allow borrowers to look at all the live interest rates for loans that fit their specific needs.
The Loan Love article says of banks and credit unions: "If you have an established relationship with a local bank or a credit union, you may be on the insider track to some good deals. Local banks are often willing to provide discounts for customers with multiple accounts and credit unions frequently have special rates for members. Don't belong to a credit union? Look around – online, through your job, through professional affiliations or alumni associations – and find out which ones you're eligible to join. While credit unions used to be few and far between, today there are many to choose from, and chances are, you qualify for at least one."
The last tip is to tap personal networks for endorsements on loan products or services. The article advises borrowers not to limit themselves to just asking their close family and friends. Virtually any person that a borrower knows and can strike up a conversation with - be it a co-worker, a minister or rabbi, or even the mail carrier or bus driver they see on a regular basis - could be the key to finding the best home loan rates. Of course, the article reminds borrowers to research any endorsements that sound promising, just as they would with any other financial product.
The full advice and a few more bonus tips can be found by reading the complete article on LoanLove.com.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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