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Points and fees – A lot of the profits an institution earns from a loan comes in the form of points and fees added to the loan. A “point” is one percent of the loan amount,Burberry Swimwear, and these often amount to extra profit for the lender. Compare interest rates and points when shopping around. Lower is better. And watch out for fees. A common fee added to loans these days is an early payment penalty. Watch out for that one, or you could pay a lot of extra money should you decide to refinance later.
rates can vary - The interest rate charged by each lender will vary from day to day, but one lender may offer more competitive rates than another,tory burch shoes sale, so be sure to ask about rates.
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It’s worth remembering that fees and points are often negotiable,tory burch flip flops sale, so don’t be afraid to ask for a better deal. Let the lender know that you are shopping around; it may help them become more cooperative. The lending business is a competitive one, and most lenders are eager to get your business. The time you spend shopping for a loan may save you thousands of dollars over the life of your loan. It’s worth the effort.