Rate is not the # 1 consideration in a mortgage loan

Since I am in the process of selling my house and buying another one (that is a whole other blog – a long one at that – for another time).  I am always watching the mortgage rates and looking for the best one and watching the news for any current issues with the housing market.  There is a lot of good stuff out there.  I stumbled across this article on the Crown website – I know, I know I work there, but I can’t keep up with everything.  It really has some good points in it.  Check it out.  Here an excerpt below:

An Article from Crown Financial Ministries, by Dale Vermillion, called Rate is not the # 1 consideration in a mortgage loan.

 During the week of January 9th, mortgage rates hit the lowest level recorded since the Mortgage Bankers Association survey began in 1990 (4.98%). And although interest rates have increased about one-half percent since then, there are still great rates available on mortgage loans today (see www.bankrate.com for the latest rates). In these times of economic uncertainty, this is great news if you are a homeowner who is thinking of refinancing. However, let me tell you something that you may have never been told before – the interest rate is NOT the most important consideration on a mortgage loan!

Check out the rest of the article HERE.