You don't necessarily need to visit your friendly banker to finance that new home. Don't forget your alternatives like ING Direct, PC Financial, and your local credit union.
A few comments on ING and PC. Both lenders tend to price their loans and mortgages at very competitive rates. From what I have gathered, they price their mortgages at roughly the posted bank rate minus 1.00%. The only bank customers to receive a greater discount than 1%, are those with large "relationships". What this means is these relationship customers must maintain large investment or deposit accounts with the bank to compensate for the lower mortgage rate. Considering the best mortgage rates are typically priced at posted rates minus 1.50% for the best relationship customers, the deals offered by ING are excellent.
Check out the best deals in basic banking services. Do all the banks offer the same deals? No way. A review in December clearly found a winner. Full story...
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