First-Time Homebuyers home buying

Comparing Mortgage Rates for First-Time Buyers

Shawn Yuby
For first-time home buyers, comparing mortgage rates and fees is crucial for affordability and timely property ownership. Use a template to request offers from multiple lenders on the same day for accurate comparison. Include details like interest rates, loan terms, and closing costs to make an informed decision. Good luck!

Make sure to shop around for the best rate and fees. For first-time home buyers, low cost mortgage and monthly payments can be the difference between able to own a property now vs. to wait another few more years.

Copy and paste this template and send it to multiple lenders in the morning. This is to compare the rates on the same day because the rates can change daily. Good luck!

Hello […],

I’m currently in the process of comparing first-time homebuyer loan programs/lenders with multiple lenders to find the best rate and fees. 

If any chance you could get back to me today with your best loan program offers (based on today’s rate), it would really help me to compare and to decide.  

My credit score is around x  and am looking to purchase a home price around $X to keep the monthly payment close to $X.   I’m looking for a 30 year fixed rate mortgage, but I’d be open to any other programs that might benefit my situation. 

Please include the following: 

Interest Rate

APR: Annual Percentage Rate

Loan Terms

Total estimated closing costs.

If you offer discount points, what’s the cost and benefit?

Lender Fees

Thanks,