Infographic: What 1% Will Save You on Your Mortgage

Posted by Bonnie Martin Designated Broker on Friday, March 7th, 2014 at 8:36am.

bank__olegdoroshin_450zillow.com - If you are shopping for a new home, it’s equally important to shop around for the best mortgage rate, too. Rates can vary greatly between lenders and even seemingly small differences can end up saving – or costing you — a lot of money over time. 

“Although the difference in monthly payment between a 4.5 percent interest rate and a 5.5 percent interest is not dramatic, your savings in interest paid over the life of the loan is significant,” said Erin Lantz, director of Zillow Mortgage Marketplace.

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Photo:  ©[Oleg Doroshin]/123RF.COM

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