if you’re in the market for a new home or refinance you’re probably hearing a lot about mortgage interest rates and you probably think the lower the rate the lower my monthly payment but the truth is the lowest interest rate doesn’t always mean the lowest payment for starters there are closing costs so a lender may offer a low interest rate but make up for it with additional fees that can really add up then there’s mortgage insurance or mi if you’re planning on putting less than 20 down on a home mi will likely be required an mi has an interest rate of its own but here’s the good news by getting a lower mi rate even with a higher interest rate on your mortgage you can actually end up with a lower monthly payment and in the end it’s the amount coming out of your bank account each month that matters most so when you’re shopping for a mortgage don’t just look at interest rates find out how much we can save you let’s talk today. Call our Marietta Georgia mortgage office at 678-920-2747
