When it comes to buying their first Santa Cruz home, many people are unaware of the basic facts of how their mortgage works. A survey by Zillow indicated that more than one third of potential first time homebuyers don’t understand the most fundamental details about their mortgages. This lack of understanding could cost you thousands of dollars, so make sure that you understand your mortgage before you make a serious financial commitment.
Here are a few of the important things that many people don’t know about mortgages and how they work:
Mortgage Rates Can Vary Depending on the Day
Did you know that mortgage rates can change daily? Simply by monitoring the changes in these rates, you could enjoy the benefit of saving a lot of money. Even a small…