Frequently Asked Questions about Comparing Home Loans

Here are the answers to the most commonly asked questions about comparing home loans.

How can I compare home loans?

You can compare home loans by signing up with us. You will need to fill out our no-obligation online form first. Once you've done that, we will provide you with at least four quotes on home loans. We present the quotes in a side-by-side format that makes comparing loans quick and easy. All of our quotes are described in easy-to-understand terms, so you know you are making an apples-to-apples comparison. If you find a loan that appeals to you, you can apply for it on the lender's website or save your quotes and return to our site at your convenience.

Do your quotes cost anything?

No, you can compare home loans on our site for free. You are also under no obligation for receiving the quotes.

What happens if I can't make a 20% down payment on a home loan?

Our lenders work with borrowers who can't make a 20% down payment all the time. We can find a lender that is willing to work around this. However, if you make a down payment of less than 20%, you will have to pay for Private Mortgage Insurance (PMI), which will be an additional monthly cost. Once you have built 20% equity in your home, you can ask your lender to cancel the PMI.

What should I look for when I compare home loans?

The most important criterion to evaluate when comparing home loans is the APR. All lenders have to calculate APR the same way, so you know that it is a valid basis of comparison even with loans from different lenders. The APR will reflect the true total cost of borrowing. You should select the home loan with the lowest APR possible. You will also want to pay attention to whether your interest rate is fixed or adjustable.

If I have bad credit, can I still get a home loan?

If you have credit challenges, it couldn't hurt to at least compare home loans to see if you can get a competitive offer. Depending on how serious your credit challenges are, you might be able to find a lender that will work with you. If not, you might consider waiting six months to a year to get a home loan. You can get much more competitive interest rates if you first take some time to improve your credit and reduce your debt. Make sure you understand your rights before you sign anything.