I am about to start looking for a home loan,mortgage offers.
When getting the quotes from different banks what are the main points I should be looking at the quotes, to make sure I am getting the best offer ?
APR,interest rate,closing costs,fees ?
If the seller or someone else is paying your "closing" costs, that’s a good deal! You can negotiate that and you should be working with a mortgage broker or wholesale person. Banks tend to charge you "retail" and you might not get the best deal. In this market, your 30 year fixed rate should be in the 5.25% range. Your APR will be higher than this amount, as the government requires that any finance costs over the term, be reflected in that APR rate over the term period of your loan. If you get a 5.25% fixed, your APR should still be well under 6%. Your best offer is always going to be your fixed interest rate, and least cash out of your pocket, my opinion.