STATEN ISLAND, N.Y. — Comparison shopping for a home loan or mortgage will help you to get the best financing deal.
The Staten Island Board of Realtors (SIBOR) suggests consumers remember that a mortgage is a product.
From the perspective of The Federal Reserve Board, shopping for a mortgage — whether it’s a home purchase, a refinancing, or a home equity loan– is no different than buying a car, so the price and terms may be negotiable.
You’ll want to compare all the costs involved in obtaining a mortgage.
Shopping, comparing, and negotiating may save you thousands of dollars.
When shopping for a mortgage, the Federal Reserve recommends consumers do the following:
- Obtain information from several lenders
- Obtain all important cost information
- Obtain the best deal that you can
- Remember: Shop, compare, negotiate
For additional information on mortgage shopping, log onto http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm.
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,800 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-928-3220 and visited online at http://siborrealtors.com/.
Media Contact: Barton Horowitz
Relevant Public Relations, LLC