Mortgage interest rates are important. But other terms of the loan can be even more important especially if you’re not planning on sticking with the mortgage loan forever. If you don’t have 20% down payment most probably in 2-3 years you’ll be refinancing and this will reset your mortgage rate anyway. And if you’re in California refinancing may be a good option sooner than you think! Personally I was able to refinance in less than a year as prices in Los Angeles skyrocketed this year.
So how to find a mortgage that’s best for you?