California Home Loan Best APR
Thursday, November 2nd, 2006APR is all we every see or hear on television, radio and cable and unless you are in the home loan business or car business, you know the letters but not that it stands for ANNUAL PERCENTAGE RATE. Well the home loan mortgage business has an APR, an annual percentage rate, but it is going to be different from lender to lender and from borrower to borrower. Now that is really funny when you think about it because all money from guaranteed lending institutions is coming from the Federal Reserve and the strongest banks are borrowing it at the best rate of the day.
The only way that you get to borrow at that rate is if you are the bank and that isn’t going to happen so what is the next best thing to do for someone like you and me? We are going to shop our deal to as many lenders as it takes until we have the best rate available based on the selling price and buying price of the real estate we are buying, the libor rate, the best available rate, the federal reserve rate and the rate at which Grandmother and Grandfather are going to loan us money to make the downpayment.
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