Shop Your Mortgage Interest Rate With The Least Amount Of Closing Costs

DDA Mortgage • September 26, 2022

There are two ways to lower your mortgage financing costs: shop your mortgage rate and manage your closing costs.



Shopping Your Mortgage Rate


Your mortgage's interest rate is the most important factor in determining how much you pay on your home loan each month. It's also one of the biggest factors determining how much of a home you can afford.


When shopping for a mortgage, there are many different types of loans available to consumers. The most common type is a fixed-rate, fixed-term loan that allows you to lock in an interest rate for the term of the loan (usually 15 or 30 years). Other options include adjustable-rate mortgages (ARMs), which allow for a lower initial rate but don't lock in an interest rate for long periods of time (usually five years or less). There are also hybrid loans that combine aspects of both fixed-rate and adjustable-rate mortgages like a 2/1 buydown.


Because there are options, you need to talk to a mortgage specialist that can educate you about each option, the pros and cons, and why one option fits your circumstances better than another option.



Managing The Closing Costs Of Your Mortgage


Closing costs are fees associated with purchasing a home, including appraisal fees, insurance premiums, and potential origination points paid at closing by either buyer or seller. Closing costs vary based on where you live and what type of property you're buying. Your terms may also determine higher or lower closing costs depending on your mortgage broker and lender.



How You Can Strategize Your Financing For The Future


As the economy shifts, the Government typically increases or decreases interest rates. Right now, we are in a state of increase. Inevitably, this too will shift, and interest rates will drop. You can find terms favorable to your financing now, knowing that in the future, you will refinance at a lower rate.


If you can get a lower rate, your payment will be lower and you'll save more money over the life of the loan. If you have an adjustable-rate mortgage (ARM), refinancing can help protect against future increases in interest rates and result in fewer payments in the long run.



Next Steps


If you are shopping for a home, call us now (727) 784-5555. We will show you all your options, not just the traditional ones.


If you have questions about mortgages and home loans, please ask using the form below.


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By Didier Malagies • September 10, 2025
Excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations.  Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329

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We're excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations. Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. Didier Malagies nmls212566 DDA Mortgage nmls324329 

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