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What Are the Best Sources of Free Mortgage Advice?

Article Details
  • Written By: B. Miller
  • Edited By: Andrew Jones
  • Last Modified Date: 21 October 2019
  • Copyright Protected:
    2003-2019
    Conjecture Corporation
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There are many different sources of free mortgage advice that can be helpful when trying to choose the best mortgage, or narrow down the numerous options. There are thousands of web sites available to be accessed for free online that provide a wealth of knowledge, but it is important to check the validity of any information found online. Consulting with a loan officer at a bank is another way to get accurate and free mortgage advice. Books borrowed from the library can be an excellent option for financial advice, but it is important as well to make sure the information is applicable and up to date.

The Internet can be a great resource when searching for free mortgage advice. Numerous banking web sites, lenders, newspapers, or even financial blogs offer practical tips for choosing the best mortgage and shopping around for rates. Advice on improving one's credit can also be found online. Any information found online should always be verified, however; the web can be a good starting point, but there is plenty of incorrect or biased information online as well, and it is important to check the source, and make sure the advice is credible. One of the benefits to finding this free mortgage advice online is that it can help potential borrowers to understand the mortgage process and to develop specific and intelligent questions to ask lenders.

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Of course, making an appointment to discuss options with a loan officer at a bank can be a great way to get free mortgage advice. It is important to keep in mind that the loan officer will likely be motivated to sell the bank's own mortgage options and services, but this does not mean that the information he or she provides is not valid. Meeting with a few different lending officers can make this even more productive, and they may eventually be able to help get borrowers pre-approved for a loan.

Plenty of advice is also to be found in books and periodicals as well. Visiting a library or bookstore for some general mortgage information and financial tips can be very helpful in getting a general overview of the process, and the way rates and interest charges are determined. These resources can also help to explain the various fees associated with a mortgage, such as closing costs, appraisals, or private mortgage insurance. Financial periodicals can be a source of up-to-date information as well. Developing knowledge about the subject from multiple sources will help to ensure that a mortgage process goes smoothly.

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