With the plethora of mortgage lenders at an all-time high, and still expanding at an exponential rate, the borrower in search of a quote can easily obtain estimates with little effort. There are dangers to this reality that consumers must understand to avoid finding themselves stuck with a loan that is not exactly what they anticipated.
Basic Breakdown
In order to ensure accurate comparison from one quote to another, it is essential that the borrower have a basic understanding of the different aspects of a mortgage quote. This knowledge will allow him to filter out those quotes that are not in his best interest, and focus only on those contracts that meet his specific needs.
There are three main pieces to a mortgage quote that a potential borrower should use to evaluate a loan’s potential: monthly payment amount, interest rate, and loan type.
Monthly Payment
For most consumers, the ultimate factor in determining whether or not a loan has potential is the monthly payment. If the payment is within the confines of the allocate budget, then it should be placed aside for further evaluation. If the contract would require a monthly payment that is above what the borrower can handle, then there is no reason to waste time analyzing the other features of the loan.
Interest Rate
A loan’s interest rate should not be the main focus for the borrower’s decision. The interest rate is merely a numerical description of the lender’s profit with that particular contract. In essence, the interest rate is the lender’s fee for loaning such a large amount of money over a period of time.
Loan Type
The loan type is another extremely important factor to consider when comparing mortgage quotes. Since there are countless types of loans available, understanding exactly what he could expect will permit the borrower to make a more informed decision. Fixed mortgage loans are the easiest to understand because the provisions of the contract do not change. The borrower would pay the same amount every month for the entire duration of the contract, usually 15 or 30 years. Adjustable loans, called ARM’s, offer the borrower a fixed payment for a certain number of years, usually between 2 and 7. At the end of that period, the interest rate may adjust at regular intervals, thereby altering the monthly payments.
Reputable Online Mortgage Lenders - We maintain a list of low rate mortgage lenders and update
the list frequently. Try applying with one of our recommended lenders
first.
Bad Credit Mortgage Tips-
Read this article to learn some tips on getting approved for a mortgage loan with bad credit.
วันพุธที่ 30 กันยายน พ.ศ. 2552
วันอังคารที่ 29 กันยายน พ.ศ. 2552
10 Things To Know Before You Accept A Mortgage Quote
Basic Information About Your Quote
Mortgages are binding documents that will be with you for the term of the loan, so you want to make sure you select the best quote for you. If you break your mortgage or don’t pay your monthly payments, your lender will repossess your property.
Bait-and-Switch Tricks
Be cautious of lenders who lure you in with the idea of crazily low interest rates or no-fee loans. These are often tactics used to get you in the door. These good deals might be available to some people who have really good credit. But if you have average to low credit and a lower down payment amount, you might not qualify for these deals and would be stuck with a higher offer. You don’t have to take such offers.
Don’t Feel Pressured
Be cautious of any realtor, broker, or lender who tries to push you into agreeing to your loan. Make the decision on your own terms and your own time. If someone pressures you into signing, it may not be the best deal for you.
Fees From Your Lender
Know what the fees will be from your lender before you agree to any mortgage quote. You’ll likely see lender fees like appraisal fees, application fees, and credit report fees. Understand up front what these fees will be and how much you should expect to pay.
Closing Costs
Know what the closing costs will be as early in the process as possible, so you can compare your offers. Closing fees will include any attorney fees, property taxes, title insurance, notary expenses, and homeowner’s insurance. Ask for these fees laid out in writing along with your quotes, so you can make an educated decision.
Tax Implications
Any interest payments you make on interest of your mortgage loan are tax deductible. An accountant would be able to help you with all the deductions that would be available to you, because you are making payments on your property. You likely won’t see any tax breaks when you purchase your property, but deductions on the interest will help you out on tax day.
Can I Change My Mind?
Yes. If you decide within the first three days of signing a mortgage agreement that you made a bad choice, you can withdraw the agreement. But it must be done within those three days. If you change your mind, put your withdrawal statement in writing and make sure your lender or broker receives that document within those 72 hours.
Fixed Rate Vs. Variable Rate Interest
There are two basic types of interest payments available to you with a mortgage. The first is a fixed-rate mortgage. With a fixed-rate mortgage, your interest rate stays the same throughout the entire time you have the loan. With the other type, a variable-rate mortgage, your interest rate will fluctuate based on current interest rates. A good rule of thumb is that if interest rates are low when you’re agreeing to your mortgage, sign with the fixed-rate mortgage. If interest rates are high, go with the variable rate.
How Do I Know If It’s The Best Deal?
Compare several different mortgage quotes at once. Line them all up on a table and look at all the offers’ good points and bad. Consider the interest rates, the terms of the loan, the monthly payments, and fees. Make an educated decision as to which deal is the best one for you before you sign on the dotted line.
How Can I Tell If I’m Overcharged?
When you look at your different mortgage quotes, you’ll get a good idea as to whether one mortgage appears to offer higher charges than the other. Also, talk with your trusted realtor or broker about high charges and see what these advisors think.
See a List of Recommended Mortgage Companies - We maintain a list of recommended mortgage companies online and update the list regularly.
Poor Credit? See a List of 50 Things You Can Do To Improve Your Credit
Mortgages are binding documents that will be with you for the term of the loan, so you want to make sure you select the best quote for you. If you break your mortgage or don’t pay your monthly payments, your lender will repossess your property.
Bait-and-Switch Tricks
Be cautious of lenders who lure you in with the idea of crazily low interest rates or no-fee loans. These are often tactics used to get you in the door. These good deals might be available to some people who have really good credit. But if you have average to low credit and a lower down payment amount, you might not qualify for these deals and would be stuck with a higher offer. You don’t have to take such offers.
Don’t Feel Pressured
Be cautious of any realtor, broker, or lender who tries to push you into agreeing to your loan. Make the decision on your own terms and your own time. If someone pressures you into signing, it may not be the best deal for you.
Fees From Your Lender
Know what the fees will be from your lender before you agree to any mortgage quote. You’ll likely see lender fees like appraisal fees, application fees, and credit report fees. Understand up front what these fees will be and how much you should expect to pay.
Closing Costs
Know what the closing costs will be as early in the process as possible, so you can compare your offers. Closing fees will include any attorney fees, property taxes, title insurance, notary expenses, and homeowner’s insurance. Ask for these fees laid out in writing along with your quotes, so you can make an educated decision.
Tax Implications
Any interest payments you make on interest of your mortgage loan are tax deductible. An accountant would be able to help you with all the deductions that would be available to you, because you are making payments on your property. You likely won’t see any tax breaks when you purchase your property, but deductions on the interest will help you out on tax day.
Can I Change My Mind?
Yes. If you decide within the first three days of signing a mortgage agreement that you made a bad choice, you can withdraw the agreement. But it must be done within those three days. If you change your mind, put your withdrawal statement in writing and make sure your lender or broker receives that document within those 72 hours.
Fixed Rate Vs. Variable Rate Interest
There are two basic types of interest payments available to you with a mortgage. The first is a fixed-rate mortgage. With a fixed-rate mortgage, your interest rate stays the same throughout the entire time you have the loan. With the other type, a variable-rate mortgage, your interest rate will fluctuate based on current interest rates. A good rule of thumb is that if interest rates are low when you’re agreeing to your mortgage, sign with the fixed-rate mortgage. If interest rates are high, go with the variable rate.
How Do I Know If It’s The Best Deal?
Compare several different mortgage quotes at once. Line them all up on a table and look at all the offers’ good points and bad. Consider the interest rates, the terms of the loan, the monthly payments, and fees. Make an educated decision as to which deal is the best one for you before you sign on the dotted line.
How Can I Tell If I’m Overcharged?
When you look at your different mortgage quotes, you’ll get a good idea as to whether one mortgage appears to offer higher charges than the other. Also, talk with your trusted realtor or broker about high charges and see what these advisors think.
See a List of Recommended Mortgage Companies - We maintain a list of recommended mortgage companies online and update the list regularly.
Poor Credit? See a List of 50 Things You Can Do To Improve Your Credit
วันจันทร์ที่ 28 กันยายน พ.ศ. 2552
5 Things to Look For in a Mortgage Quote
When shopping for a mortgage lender, it is absolutely imperative that you obtain more than one quote. You should also ensure that every lender provides you with a Good Faith Estimate (GFE) to substantiate each offer. When reviewing these quotes, here are five important factors to think about:
1. Fixed or Adjustable
If a rate seems very low compared to other offers, make sure that you are not getting an adjustable rate when you requested a fixed mortgage. Brokers will often try to bait you with a low, adjustable rate.
2. Cash to Close
Look closely at how much cash each lender is requiring you to bring to the closing table. Sometimes a slightly higher rate is fine if it means that you need les money to close.
3. Escrow
Look carefully to see if the quoted loan requires you to escrow your taxes and insurance. If so, make sure your lender estimated the reserves that you will need to pay in order to set up the escrow account.
4. Origination Fees
Generally, the top line on a GFE will show how many origination points you are paying the lender for obtaining the loan on your behalf. It will always be to your advantage to negotiate this amount. Remember, most loan officers are paid on commission so they would rather make a little less than nothing at all.
5. Complete GFE
Make sure all fees are disclosed that you will be required to pay, i.e. origination fees, lender fees, processing fees, taxes, title insurance, transfer tax, etc. Some brokers/lenders will attempt to leave off non-fixed costs like taxes in an attempt to make their loan look more attractive.
These thoughts should prepare you quite well when seeking out a fair and affordable mortgage loan.
Suggested Mortgage Lenders Online
- We maintain a list of recommended mortgage companies online and update the list regularly.
List of Suggested Lenders for People With Bad Credit- We also have a list of recommended mortgage lenders for those with low credit scores.
1. Fixed or Adjustable
If a rate seems very low compared to other offers, make sure that you are not getting an adjustable rate when you requested a fixed mortgage. Brokers will often try to bait you with a low, adjustable rate.
2. Cash to Close
Look closely at how much cash each lender is requiring you to bring to the closing table. Sometimes a slightly higher rate is fine if it means that you need les money to close.
3. Escrow
Look carefully to see if the quoted loan requires you to escrow your taxes and insurance. If so, make sure your lender estimated the reserves that you will need to pay in order to set up the escrow account.
4. Origination Fees
Generally, the top line on a GFE will show how many origination points you are paying the lender for obtaining the loan on your behalf. It will always be to your advantage to negotiate this amount. Remember, most loan officers are paid on commission so they would rather make a little less than nothing at all.
5. Complete GFE
Make sure all fees are disclosed that you will be required to pay, i.e. origination fees, lender fees, processing fees, taxes, title insurance, transfer tax, etc. Some brokers/lenders will attempt to leave off non-fixed costs like taxes in an attempt to make their loan look more attractive.
These thoughts should prepare you quite well when seeking out a fair and affordable mortgage loan.
Suggested Mortgage Lenders Online
- We maintain a list of recommended mortgage companies online and update the list regularly.
List of Suggested Lenders for People With Bad Credit- We also have a list of recommended mortgage lenders for those with low credit scores.
วันอาทิตย์ที่ 27 กันยายน พ.ศ. 2552
California Mortgage Quote: Get the Rate You Deserve Without Yield Spread Premium
If you are refinancing your California home loan it is extremely easy to overpay for the new mortgage. The mortgage rate you think you’re getting is not the interest rate you qualified for when your application was approved. Your mortgage rate includes hidden markup to boost your loan representative’s commission; here are steps you can take to avoid paying too much when refinancing your California mortgage loan.
The high cost of California real estate makes it difficult for many homeowners when refinancing. Because of the large amount you have to borrow to refinance your California home, any markup of your mortgage interest rate is greatly magnified and will cost you thousands of dollars every year.
What is this hidden markup of your mortgage interest rate? When your application for a new California mortgage loan is approved you qualify for a specific mortgage rate. Your mortgage company marks this rate up because the lender pays them a bonus for overcharging you. The difference between the mortgage rate you qualified and the mortgage rate you close is Yield Spread Premium.
Here’s an example to illustrate Yield Spread Premium in action. Suppose you refinance your California mortgage with a broker who quotes you a mortgage rate of 6.75%. You agree to pay 1% of your $750,000 mortgage amount for origination fees. This is a reasonable fee for the broker’s services ($7,500). What your mortgage broker isn’t telling you is that you qualified for a 6% mortgage rate and the broker marked it up to 6.75% to receive a bonus from the wholesale lender. For every additional .25 percent you agree to overpay the broker receives another 1% of your loan amount.
In the previous example the broker pockets your origination fee of $7,500 plus an additional $22,500 from the wholesale lender for overcharging you! You get stuck paying thousands of dollars in unnecessary mortgage interest every year and the mortgage broker pockets $30,000 at your expense. How can you avoid this ridiculous but perfectly legal markup of your California mortgage interest rate? You can learn this and other costly mortgage mistakes to avoid with a free mortgage tutorial.
To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.
Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: "Mortgage Refinancing - What You Need to Know," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.
Claim your free mortgage refinancing tutorial today at: http://www.refiadvisor.com
California Mortgage Quote
The high cost of California real estate makes it difficult for many homeowners when refinancing. Because of the large amount you have to borrow to refinance your California home, any markup of your mortgage interest rate is greatly magnified and will cost you thousands of dollars every year.
What is this hidden markup of your mortgage interest rate? When your application for a new California mortgage loan is approved you qualify for a specific mortgage rate. Your mortgage company marks this rate up because the lender pays them a bonus for overcharging you. The difference between the mortgage rate you qualified and the mortgage rate you close is Yield Spread Premium.
Here’s an example to illustrate Yield Spread Premium in action. Suppose you refinance your California mortgage with a broker who quotes you a mortgage rate of 6.75%. You agree to pay 1% of your $750,000 mortgage amount for origination fees. This is a reasonable fee for the broker’s services ($7,500). What your mortgage broker isn’t telling you is that you qualified for a 6% mortgage rate and the broker marked it up to 6.75% to receive a bonus from the wholesale lender. For every additional .25 percent you agree to overpay the broker receives another 1% of your loan amount.
In the previous example the broker pockets your origination fee of $7,500 plus an additional $22,500 from the wholesale lender for overcharging you! You get stuck paying thousands of dollars in unnecessary mortgage interest every year and the mortgage broker pockets $30,000 at your expense. How can you avoid this ridiculous but perfectly legal markup of your California mortgage interest rate? You can learn this and other costly mortgage mistakes to avoid with a free mortgage tutorial.
To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.
Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: "Mortgage Refinancing - What You Need to Know," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.
Claim your free mortgage refinancing tutorial today at: http://www.refiadvisor.com
California Mortgage Quote
วันเสาร์ที่ 26 กันยายน พ.ศ. 2552
Advantages of an Online Mortgage Quote
There are several advantages when getting an online mortgage quote. First fast, easy, and quick response. Second you have ability to shop around with more than 1 mortgage prospect, and some services shop around for you! Unlike traditional mortgage quote you will not get bombarded with phone calls from 30 different lenders, only the 1 you choose to contact you.
There are several things to look for when shopping online for a mortgage quote.
The mortgage field is cut throat competition. Mortgage companies are falling over each other to give consumers the lowest quote to get the deal. They only get paid if you go with them, so their best interest it to get you the lowest rate possible, and that means they have to shop around for lenders that you're deal is suited for. Behind the scenes if they are not a direct lender they bargain with direct lenders to see what rate they can get, and then turn around and sell you.
The downside of this is that you are dealing with a middle man approach. There are websites like A2zLoanQuotes.com for example, that are the direct lenders. There is no middle man with their service, and that means less middleman fees, and not only do you get the best rate available, you pay overall less than the person who is shopping with a middleman company.
A friendly service is always the greatest asset a company can have. Once you decided to go with a specific company, their initial response to your needs should be a great factor when you want to close the deal. If they are kind, and give you detailed explanations of the whole process you know you've got yourself a winner. The best way to help the mortgage process move faster is by always having the paper work to the broker onto usually the same day if not with 24 hours of the mortgage company asking for it. This is the best way to get the fast and quick service you want. Most companies can close with 2 weeks. Some rare companies such as A2Zloanquotes can close within 1 week if all documents are made available. It is up to you on how fast you want the mortgage process to go.
Another things to look for and is one of the most important is a great rating with a 3rd party. The Better Business Bureau is the choice for most. If a company has a B+ or better, this is signs of a reputable company. The less complaints the better. A company for example like A2ZLoanquotes, which has an A rating, and Zero complaints, is probably worth looking at. Check out the background of the company, make sure you know who you are dealing with, and have a brick and mortar location. This is a sure sign of a great standing company.
Once you fill out a mini-form on the mortgage quote company's website, you should get an immediate response, usually between 5 minutes to 24 hours. This lets you know that you are being taken seriously. If you feel out information and a company gets back to you in over 48 hours that usually means it is not organized.
The best part about shopping online is being able to shop around without obligation. You can get several quotes from different companies and choose the best one that fits your needs. You even have the possibility of staying anonymous.
Go with a trusted online home loan quote specialists like http://www.A2ZLoanquotes.com
They have a proven track record. Zero complaints with the BBB. A rating with the BBB. Backed by a Direct Lender, so there are no middleman fees, and much more.
There are several things to look for when shopping online for a mortgage quote.
The mortgage field is cut throat competition. Mortgage companies are falling over each other to give consumers the lowest quote to get the deal. They only get paid if you go with them, so their best interest it to get you the lowest rate possible, and that means they have to shop around for lenders that you're deal is suited for. Behind the scenes if they are not a direct lender they bargain with direct lenders to see what rate they can get, and then turn around and sell you.
The downside of this is that you are dealing with a middle man approach. There are websites like A2zLoanQuotes.com for example, that are the direct lenders. There is no middle man with their service, and that means less middleman fees, and not only do you get the best rate available, you pay overall less than the person who is shopping with a middleman company.
A friendly service is always the greatest asset a company can have. Once you decided to go with a specific company, their initial response to your needs should be a great factor when you want to close the deal. If they are kind, and give you detailed explanations of the whole process you know you've got yourself a winner. The best way to help the mortgage process move faster is by always having the paper work to the broker onto usually the same day if not with 24 hours of the mortgage company asking for it. This is the best way to get the fast and quick service you want. Most companies can close with 2 weeks. Some rare companies such as A2Zloanquotes can close within 1 week if all documents are made available. It is up to you on how fast you want the mortgage process to go.
Another things to look for and is one of the most important is a great rating with a 3rd party. The Better Business Bureau is the choice for most. If a company has a B+ or better, this is signs of a reputable company. The less complaints the better. A company for example like A2ZLoanquotes, which has an A rating, and Zero complaints, is probably worth looking at. Check out the background of the company, make sure you know who you are dealing with, and have a brick and mortar location. This is a sure sign of a great standing company.
Once you fill out a mini-form on the mortgage quote company's website, you should get an immediate response, usually between 5 minutes to 24 hours. This lets you know that you are being taken seriously. If you feel out information and a company gets back to you in over 48 hours that usually means it is not organized.
The best part about shopping online is being able to shop around without obligation. You can get several quotes from different companies and choose the best one that fits your needs. You even have the possibility of staying anonymous.
Go with a trusted online home loan quote specialists like http://www.A2ZLoanquotes.com
They have a proven track record. Zero complaints with the BBB. A rating with the BBB. Backed by a Direct Lender, so there are no middleman fees, and much more.
วันศุกร์ที่ 25 กันยายน พ.ศ. 2552
Charlotte Mortgage Quote
Known as the “Queen City,” Charlotte is the largest city in North Carolina. Home to more than 600,000 residents the entire metropolitan area continues to grow as people flock in to experience the city’s many businesses, good schools, and enjoyable way of life. If you are buying a home in Charlotte, you have made a wise decision. Please keep reading for more information.
Buying a home requires some diligent research on your part. Working closely with your realtor and locating an attorney skilled in real estate sales is essential in your mission to completing the deal. Of utmost importance is finding a quality lender; getting a Charlotte mortgage quote will go a long way in helping you accomplish your goals.
With a Charlotte mortgage quote there are several things you need to find out:
1. What is the interest rate?
2. Is the interest rate fixed or is it variable? If variable, is it also capped?
3. How much will be loaned?
4. How long is the mortgage term?
5. Can you refinance the loan at any time?
6. Are there penalties for paying off the loan early?
7. Will you be able to secure a loan greater than the value of the house in order to finish needed repairs?
At the very least your Charlotte mortgage quote will give to you your interest rate, principle to be financed, and your loan term. As you select a mortgage lender you will learn the answers to the remaining questions.
So, just how can you obtain a Charlotte mortgage quote? There are several ways, including the following:
1. Search online. Enter, “Charlotte mortgage quote” in the search parameters and your search engine will serve you the results.
2. Contact mortgage lenders directly. Call local lenders and ask for a quote over the phone. You may have to supply some detailed information, but a rough estimate should be given to you within moments.
3. Contact your bank. If you have a friendly and good relationship with a particular bank, contact them directly and see if they will give you a quote. If not, there are plenty of other Charlotte mortgage quote providers: your bank’s competition. Make sure your existing financial institution knows you are willing to visit their competitors to get what you need.
Once you have received all of your quotes narrow the search down by asking more detailed questions as mentioned earlier. Do not be pressured into making a quick decision or one you may regret later. Plenty of companies are willing to offer to you a Charlotte mortgage quote, so take your business elsewhere until you meet someone who suits your needs.
Copyright 2006 – For additional information regarding Matt Keegan, The Article Writer, please visit his blog for wit, quips, and freelance writing tips.
Buying a home requires some diligent research on your part. Working closely with your realtor and locating an attorney skilled in real estate sales is essential in your mission to completing the deal. Of utmost importance is finding a quality lender; getting a Charlotte mortgage quote will go a long way in helping you accomplish your goals.
With a Charlotte mortgage quote there are several things you need to find out:
1. What is the interest rate?
2. Is the interest rate fixed or is it variable? If variable, is it also capped?
3. How much will be loaned?
4. How long is the mortgage term?
5. Can you refinance the loan at any time?
6. Are there penalties for paying off the loan early?
7. Will you be able to secure a loan greater than the value of the house in order to finish needed repairs?
At the very least your Charlotte mortgage quote will give to you your interest rate, principle to be financed, and your loan term. As you select a mortgage lender you will learn the answers to the remaining questions.
So, just how can you obtain a Charlotte mortgage quote? There are several ways, including the following:
1. Search online. Enter, “Charlotte mortgage quote” in the search parameters and your search engine will serve you the results.
2. Contact mortgage lenders directly. Call local lenders and ask for a quote over the phone. You may have to supply some detailed information, but a rough estimate should be given to you within moments.
3. Contact your bank. If you have a friendly and good relationship with a particular bank, contact them directly and see if they will give you a quote. If not, there are plenty of other Charlotte mortgage quote providers: your bank’s competition. Make sure your existing financial institution knows you are willing to visit their competitors to get what you need.
Once you have received all of your quotes narrow the search down by asking more detailed questions as mentioned earlier. Do not be pressured into making a quick decision or one you may regret later. Plenty of companies are willing to offer to you a Charlotte mortgage quote, so take your business elsewhere until you meet someone who suits your needs.
Copyright 2006 – For additional information regarding Matt Keegan, The Article Writer, please visit his blog for wit, quips, and freelance writing tips.
วันพฤหัสบดีที่ 24 กันยายน พ.ศ. 2552
3 Things To Know When You Apply For A Mortgage Quote Online
Applying for a mortgage quote online is fast and convenient. Many prospective homeowners prefer applying online because they can submit applications from their own home when it is convenient for them instead of having to go to a lender during regular business hours. Additionally, they can get quotes from several different lenders at once. However, there are a few things to consider when applying for a mortgage quote online.
Know Your Credit Score
Prospective homeowners should know their credit scores before applying for a mortgage quote online. This is important because this information will likely be required during the application process. If you do not know your credit score you are eligible to receive one free report each year from each of the three major credit bureaus. Requesting this information ahead of time will be useful when you are applying for a mortgage quote
Know the Current Interest Rates
Prospective homeowners should also familiarize themselves with the current interest rates being offered by local lenders. This information will be useful in comparing the mortgage quotes you receive online and determining which lenders are offering the most favorable rates. Obtaining this information is often as simple as calling a few lenders or reading your local newspaper.
Know if the Website is Secure
Finally, prospective homeowners should ensure they are applying for a mortgage quote from a reputable lender offering a secure website. The security of the website can be checked easily by looking at the web address. If the web address starts with https:// instead of http:// it means the website is secure. This is critical because you will likely be required to submit sensitive materials with your online mortgage quote application so you want to be sure this information is safe. Additionally, you want to be sure the lender is reputable. You should either stick with well known lenders or verify the reputation of lesser known lenders through the Better Business Bureau.
View a List of Recommended Online Mortgage Lenders - We maintain a list of recommended mortgage companies online and update the list regularly.
List of Online Mortgage Lenders For People With Credit Problems- Check out our list of online mortgage lenders specializing in borrowers with poor credit.
Know Your Credit Score
Prospective homeowners should know their credit scores before applying for a mortgage quote online. This is important because this information will likely be required during the application process. If you do not know your credit score you are eligible to receive one free report each year from each of the three major credit bureaus. Requesting this information ahead of time will be useful when you are applying for a mortgage quote
Know the Current Interest Rates
Prospective homeowners should also familiarize themselves with the current interest rates being offered by local lenders. This information will be useful in comparing the mortgage quotes you receive online and determining which lenders are offering the most favorable rates. Obtaining this information is often as simple as calling a few lenders or reading your local newspaper.
Know if the Website is Secure
Finally, prospective homeowners should ensure they are applying for a mortgage quote from a reputable lender offering a secure website. The security of the website can be checked easily by looking at the web address. If the web address starts with https:// instead of http:// it means the website is secure. This is critical because you will likely be required to submit sensitive materials with your online mortgage quote application so you want to be sure this information is safe. Additionally, you want to be sure the lender is reputable. You should either stick with well known lenders or verify the reputation of lesser known lenders through the Better Business Bureau.
View a List of Recommended Online Mortgage Lenders - We maintain a list of recommended mortgage companies online and update the list regularly.
List of Online Mortgage Lenders For People With Credit Problems- Check out our list of online mortgage lenders specializing in borrowers with poor credit.
วันพุธที่ 23 กันยายน พ.ศ. 2552
The Best Place to Get a Mortgage Quote
There are many places you can go to get a mortgage quote. The internet has made it even easier to get help finding the right mortgage. There are many sources you can go to get a quote. You can go direct to the lender although you will only get information from that lenders limited range or you could go through an intermediary like a mortgage broker. In my opinion the best way to is to go through a mortgage broker.
A mortgage broker takes the pain out of searching for a mortgage. You will complete an application form including details of the property you are interested in, how much you are looking to borrow, deposit you can put up against the mortgage as well as the length you want for your loan.
Many mortgage brokers will search the whole market to find the best deal for you, saving you time and effort. It is also possible to find a broker who won't charge a fee for their services. You can make use of their services without the obligation of going ahead with an application.
Using a mortgage broker will also give you the benefit of expert advice. They can save you many wasted hours in the searching process. They can advise you on the type of mortgage that will suit your circumstances and help you at each stage of your application.
With the changing market conditions, it is more difficult to acquire a mortgage when compared to eighteen months ago. Mortgage brokers are therefore of more benefit nowadays, helping you meet the new market conditions.
Whether you are serious about getting a mortgage now or want to investigate for the future. A mortgage broker can get the mortgage quotes for you and without cost.
Search for a mortgage broker on-line now, many are available and looking for your business. It is a competitive market so they will all be after your business and in more need than ever. Remember to use a whole of market, fee free mortgage broker. Giving you expert mortgage advice without the obligation or cost incurred.
Chris Borthwick writes articles for the finance industry, mortgage brokers and general alike. Recent articles were on using the services of a broker to get a fee free mortgage
A mortgage broker takes the pain out of searching for a mortgage. You will complete an application form including details of the property you are interested in, how much you are looking to borrow, deposit you can put up against the mortgage as well as the length you want for your loan.
Many mortgage brokers will search the whole market to find the best deal for you, saving you time and effort. It is also possible to find a broker who won't charge a fee for their services. You can make use of their services without the obligation of going ahead with an application.
Using a mortgage broker will also give you the benefit of expert advice. They can save you many wasted hours in the searching process. They can advise you on the type of mortgage that will suit your circumstances and help you at each stage of your application.
With the changing market conditions, it is more difficult to acquire a mortgage when compared to eighteen months ago. Mortgage brokers are therefore of more benefit nowadays, helping you meet the new market conditions.
Whether you are serious about getting a mortgage now or want to investigate for the future. A mortgage broker can get the mortgage quotes for you and without cost.
Search for a mortgage broker on-line now, many are available and looking for your business. It is a competitive market so they will all be after your business and in more need than ever. Remember to use a whole of market, fee free mortgage broker. Giving you expert mortgage advice without the obligation or cost incurred.
Chris Borthwick writes articles for the finance industry, mortgage brokers and general alike. Recent articles were on using the services of a broker to get a fee free mortgage
วันอังคารที่ 22 กันยายน พ.ศ. 2552
Advice on Getting a Mortgage Quote Online
Online mortgage quotes are quick and easy. The process can be done within 5 minutes at home or in your leisure time. Getting a mortgage loan quote from an online loan quote specialist has many advantages and benefits. to name a couple:
1. Getting a reply from an online loan quote services is much quicker and takes less of your time than going the conventional bank route. A loan officer will contact you immediately usually with 1 - 48 hours. Some times they call you within the hour and are able to get the loan process started then and there.
2. Online consumers are able to receive several quotes and compare the rates of several lenders instantly. They will be able to receive estimates on closing costs as soon as they apply for the loan rates.
3. When traditionally applying for a loan in person, a lender is not required to provide a "good faith estimate" until 72 hours after receiving the application. With an internet mortgage quote specialist they want your business and can provide you with a good faith estimate faster, which saves you time.
4. You will save money by applying online since the process of complete an application costs less for the lender, which in return will save you some closing cost fees. When a loan inquiry is filed online, the consumer does not need to visit the bank's office and meet with an agent, everything can be done online. Often lenders will give discounts on internet rates, closing costs, and loan origination feeds.
5. There is an enormous amount competition among online mortgage quote lenders, and in order for them to survive they must provide you with the best possible
rate available or they simply won't get your business.
In conclusion, applying at a respectable online quote provide allows you, the consumer to save time, money (very important factor), and get to the closing table faster.
Get an free, fast online refinance quote today at http://www.A2ZLoanQuotes.com
C. Cartre has more than 10 years in the mortgage industry. He works at A2ZLoanQuotes.com which provides consumers free online mortgage quotes.
1. Getting a reply from an online loan quote services is much quicker and takes less of your time than going the conventional bank route. A loan officer will contact you immediately usually with 1 - 48 hours. Some times they call you within the hour and are able to get the loan process started then and there.
2. Online consumers are able to receive several quotes and compare the rates of several lenders instantly. They will be able to receive estimates on closing costs as soon as they apply for the loan rates.
3. When traditionally applying for a loan in person, a lender is not required to provide a "good faith estimate" until 72 hours after receiving the application. With an internet mortgage quote specialist they want your business and can provide you with a good faith estimate faster, which saves you time.
4. You will save money by applying online since the process of complete an application costs less for the lender, which in return will save you some closing cost fees. When a loan inquiry is filed online, the consumer does not need to visit the bank's office and meet with an agent, everything can be done online. Often lenders will give discounts on internet rates, closing costs, and loan origination feeds.
5. There is an enormous amount competition among online mortgage quote lenders, and in order for them to survive they must provide you with the best possible
rate available or they simply won't get your business.
In conclusion, applying at a respectable online quote provide allows you, the consumer to save time, money (very important factor), and get to the closing table faster.
Get an free, fast online refinance quote today at http://www.A2ZLoanQuotes.com
C. Cartre has more than 10 years in the mortgage industry. He works at A2ZLoanQuotes.com which provides consumers free online mortgage quotes.
วันจันทร์ที่ 21 กันยายน พ.ศ. 2552
Buy to Let Mortgage Quote
Landlords who buy properties to let will shop around for the properties they know will result in the best deals. They purchase a property with a low cost that is in high demand and will let for at least 25% over the monthly mortgage repayment. The same diligent care should be taken when looking for the best buy to let mortgage quote.
Online real estate sites are often the best places to find the best mortgage quotes. In this way you will be able to shop around and take various quotes from various sites to determine the best buy to let mortgage quote for your personal situation. Be prepared; however, some sites limit the number of quotes they will offer.
Some mortgages come with perks including flexible repayments and cash back upon closing. One flexible repayment option is to pay a smaller monthly payment one month and then make a larger payment another month when you are more able to make it. This can be an important factor if the need for car or home repairs occurs and you don't have the extra funds. Additionally this can help when finances are tight due to illness or lack of work. Cash back upon closing simply gives you a certain refund of cash when you close on your mortgage. This can be applied to your payments or used for whatever you like.
Don't randomly choose the first buy to let mortgage quote; choose a mortgage with the care in which you choose a property.
Richard Coppin - Buy to let mortgage quote and All Types of Loans
Online real estate sites are often the best places to find the best mortgage quotes. In this way you will be able to shop around and take various quotes from various sites to determine the best buy to let mortgage quote for your personal situation. Be prepared; however, some sites limit the number of quotes they will offer.
Some mortgages come with perks including flexible repayments and cash back upon closing. One flexible repayment option is to pay a smaller monthly payment one month and then make a larger payment another month when you are more able to make it. This can be an important factor if the need for car or home repairs occurs and you don't have the extra funds. Additionally this can help when finances are tight due to illness or lack of work. Cash back upon closing simply gives you a certain refund of cash when you close on your mortgage. This can be applied to your payments or used for whatever you like.
Don't randomly choose the first buy to let mortgage quote; choose a mortgage with the care in which you choose a property.
Richard Coppin - Buy to let mortgage quote and All Types of Loans
วันอาทิตย์ที่ 20 กันยายน พ.ศ. 2552
Mortgage Quote Secrets - 3 Ways to Get the Best Mortgage Quotes
If you're in the process of buying a new home and are in need of a mortgage quote, read on. Today, the cost of owning real estate has come down along with interest rates, making this an excellent time to purchase a home. In this short article, we'll be discussing 3 tips for finding the best mortgage rates. Hopefully by the time you're finished reading this, you'll be better prepared to sign on the dotted line.
The first way to get a mortgage quote is through your bank. At the bank, you'll be assigned to an individual who will walk you through the application process. Also, be sure to look carefully at any and all fees on your home loan.
The second way to get a mortgage is through a credit union. Many people dread having to deal with banks, so a credit union offers a nice alternative. Once again, you'll be assigned to a mortgage broker who will walk you through the application process. Credit unions often offer better mortgage rates and terms, so this might be worth a look.
Last but not least, you can look online for a mortgage quote. There are many websites on the Internet that will provide you with free quotes, but you need to be careful who you provide your personal information to.
Hopefully this short article has provided some helpful tips on how to get the best mortgage quotes. Purchasing a new home is a big decision, but choosing a lender can be equally important. Take your time to shop around and compare lenders, your wallet will thank you for it.
Find the best deal on a San Diego home mortgage at http://www.SanDiegoMortgageRate.com today.
The first way to get a mortgage quote is through your bank. At the bank, you'll be assigned to an individual who will walk you through the application process. Also, be sure to look carefully at any and all fees on your home loan.
The second way to get a mortgage is through a credit union. Many people dread having to deal with banks, so a credit union offers a nice alternative. Once again, you'll be assigned to a mortgage broker who will walk you through the application process. Credit unions often offer better mortgage rates and terms, so this might be worth a look.
Last but not least, you can look online for a mortgage quote. There are many websites on the Internet that will provide you with free quotes, but you need to be careful who you provide your personal information to.
Hopefully this short article has provided some helpful tips on how to get the best mortgage quotes. Purchasing a new home is a big decision, but choosing a lender can be equally important. Take your time to shop around and compare lenders, your wallet will thank you for it.
Find the best deal on a San Diego home mortgage at http://www.SanDiegoMortgageRate.com today.
วันเสาร์ที่ 19 กันยายน พ.ศ. 2552
Getting a Mortgage Quote Online
If you are interested in buying a home then you are certainly shopping for a mortgage quote from a variety of different lenders. This is important because when you have more than one mortgage quote you can compare the different lenders and find the one that is best for you. Frequently, the average mortgage quote online will be lower than the average mortgage quote from your neighborhood bank. Since every penny counts and you want to save as much money as possible, get a mortgage quote online as well as from your neighborhood lenders to find the best deal for you. The following suggestions will help you find a mortgage quote online as well.
Mortgage Quote Tip #1 Bid for Quotes
The best way to get a mortgage quote online is to visit the sites that ask for some general personal financial information and then submits it to various lenders. Then, all of the lenders respond with a mortgage quote for your personal financial situation. Once you receive the mortgage quote it is up to you to forget it or contact the lender that provided you with that particular mortgage quote.
Mortgage Quote Tip #2 Professionals
You want a professional and real mortgage quote, so make sure you are dealing with a professional company that will provide you with a legitimate mortgage quote online. If not, you will be wasting your time and risking your investment by dealing with a sketchy company.
Mortgage Quote Tip #3 Realistic
While you want the lowest mortgage quote possible, you need to make sure the mortgage quote is realistic within the scheme of things. If you receive a mortgage quote that is several percentage points lower than the lowest mortgage quote you have seen, you might want to question it. While there are many reputable online mortgage quote companies, there are those out there that are not professional.
Jay Moncliff is the founder of http://www.mybestmortgage.info a website specialized on Mortgage, resources and articles. This site provides updated information on Mortgage. For more info visit his site: Mortgage
Mortgage Quote Tip #1 Bid for Quotes
The best way to get a mortgage quote online is to visit the sites that ask for some general personal financial information and then submits it to various lenders. Then, all of the lenders respond with a mortgage quote for your personal financial situation. Once you receive the mortgage quote it is up to you to forget it or contact the lender that provided you with that particular mortgage quote.
Mortgage Quote Tip #2 Professionals
You want a professional and real mortgage quote, so make sure you are dealing with a professional company that will provide you with a legitimate mortgage quote online. If not, you will be wasting your time and risking your investment by dealing with a sketchy company.
Mortgage Quote Tip #3 Realistic
While you want the lowest mortgage quote possible, you need to make sure the mortgage quote is realistic within the scheme of things. If you receive a mortgage quote that is several percentage points lower than the lowest mortgage quote you have seen, you might want to question it. While there are many reputable online mortgage quote companies, there are those out there that are not professional.
Jay Moncliff is the founder of http://www.mybestmortgage.info a website specialized on Mortgage, resources and articles. This site provides updated information on Mortgage. For more info visit his site: Mortgage
วันศุกร์ที่ 18 กันยายน พ.ศ. 2552
Obtaining a Mortgage Quote Online - What to Look For in a Quote?
Requesting an online mortgage price quote is one of the simplest ways to compare different loan programs. However, before you submit a request with a mortgage broker or lender, it's crucial that you know what information to look for on a price quote.
1. Mortgage Interest Rate
The interest is the rate charged to the borrower. Mortgage lenders and brokers offer a variety of products with different types of interest rates. For example, the price quote may include a quote for an adjustable rate mortgage, in which the rate changes periodically, or a quote for a fixed rate mortgage. If the rate is adjustable, the price quote may also include information such as the initial rate period and frequency of the adjustment period.
2. Mortgage Term
The term is the time used to determine the monthly mortgage payment. The average home loan term is 30 years. However, home buyers can select other alternatives such as a 15-year mortgage, 40-year mortgage, or a balloon mortgage. Unless a shorter term is requested by the borrower, lenders always calculate mortgage payments based on the standard 30-year term.
3. Pre-Payment Penalty
The majority of bad credit home loans include a pre-payment penalty, in which the borrower is charged a fine for paying off the mortgage early. The charge is typically 3% of the loan balance. After 3 - 5 years, mortgage lenders get rid of the pre-pay penalty, which allows the homeowner to sell or refinance the property without paying a fee.
4. Origination Fee
The origination fee is an upfront fee that lenders charge borrowers. Standard origination fees are 1% of the loan amount. For example, if the home price is $165,000, the mortgage lender should charge approximately $1,650 for the loan origination. If the lender or broker charges a higher percentage, confront the loan officer.
List of Preferred Mortgage Lenders Online - We maintain a list of recommended mortgage companies online and update the list regularly.
Credit Difficulties? See a List of Poor Credit Mortgage Companies Online
1. Mortgage Interest Rate
The interest is the rate charged to the borrower. Mortgage lenders and brokers offer a variety of products with different types of interest rates. For example, the price quote may include a quote for an adjustable rate mortgage, in which the rate changes periodically, or a quote for a fixed rate mortgage. If the rate is adjustable, the price quote may also include information such as the initial rate period and frequency of the adjustment period.
2. Mortgage Term
The term is the time used to determine the monthly mortgage payment. The average home loan term is 30 years. However, home buyers can select other alternatives such as a 15-year mortgage, 40-year mortgage, or a balloon mortgage. Unless a shorter term is requested by the borrower, lenders always calculate mortgage payments based on the standard 30-year term.
3. Pre-Payment Penalty
The majority of bad credit home loans include a pre-payment penalty, in which the borrower is charged a fine for paying off the mortgage early. The charge is typically 3% of the loan balance. After 3 - 5 years, mortgage lenders get rid of the pre-pay penalty, which allows the homeowner to sell or refinance the property without paying a fee.
4. Origination Fee
The origination fee is an upfront fee that lenders charge borrowers. Standard origination fees are 1% of the loan amount. For example, if the home price is $165,000, the mortgage lender should charge approximately $1,650 for the loan origination. If the lender or broker charges a higher percentage, confront the loan officer.
List of Preferred Mortgage Lenders Online - We maintain a list of recommended mortgage companies online and update the list regularly.
Credit Difficulties? See a List of Poor Credit Mortgage Companies Online
วันพฤหัสบดีที่ 17 กันยายน พ.ศ. 2552
Mortgage Quote Online - Two Things You Must Know When Shopping For a Mortgage Online
Thinking Of Getting an Online Home Loan Quote?
If you are going to be getting a mortgage quote online there are a few things you need to be aware of in order to get the best deal and not get ripped off by an out of state lender. Below i have listed two of the big drawbacks to getting a mortgage quote online that many consumers have experienced.
Two Things to Keep In Mind When Shopping Your Loan On The Internet
Super Low Teaser Rates- This is the biggest problem when trying to get a mortgage online. What normally happens is that you will see a interest rate advertised that looks very low. In fact many are way under what is currently being offered on the market. When you finally talk to the lender you realize that the rate is for perfect credit, no cash out, and normally low you must have over 20% equity in your home. The biggest turn off to borrowers though is that these low advertised rates can often only be had by paying a lot of money in buy down points.
Calls From To Many Lenders- The biggest complaint of many people who apply for a mortgage online are that they get called by a huge amount of different lenders and they even get calls for weeks or months months after their loan closes. The reason behind this is that your information is normally collected by lead brokers and not actual mortgage companies. The lead companies then sell this information to any lender that wants to buy it. Often times it is also bought by other lead brokers and resold again and the cycle repeats itself over and over and over until you are frustrated!
How To Avoid These Mortgage Quote Problems
If you want to get low mortgage rates you should deal directly with a mortgage company that has a proven record of customer satisfaction and can offer you a wide selection of loan products. A company like http://www.mayfairmortgage.com will do just that and more.
If you are going to be getting a mortgage quote online there are a few things you need to be aware of in order to get the best deal and not get ripped off by an out of state lender. Below i have listed two of the big drawbacks to getting a mortgage quote online that many consumers have experienced.
Two Things to Keep In Mind When Shopping Your Loan On The Internet
Super Low Teaser Rates- This is the biggest problem when trying to get a mortgage online. What normally happens is that you will see a interest rate advertised that looks very low. In fact many are way under what is currently being offered on the market. When you finally talk to the lender you realize that the rate is for perfect credit, no cash out, and normally low you must have over 20% equity in your home. The biggest turn off to borrowers though is that these low advertised rates can often only be had by paying a lot of money in buy down points.
Calls From To Many Lenders- The biggest complaint of many people who apply for a mortgage online are that they get called by a huge amount of different lenders and they even get calls for weeks or months months after their loan closes. The reason behind this is that your information is normally collected by lead brokers and not actual mortgage companies. The lead companies then sell this information to any lender that wants to buy it. Often times it is also bought by other lead brokers and resold again and the cycle repeats itself over and over and over until you are frustrated!
How To Avoid These Mortgage Quote Problems
If you want to get low mortgage rates you should deal directly with a mortgage company that has a proven record of customer satisfaction and can offer you a wide selection of loan products. A company like http://www.mayfairmortgage.com will do just that and more.
วันพุธที่ 16 กันยายน พ.ศ. 2552
Online Mortgage Quote - Tips on Getting a Mortgage Quote Online
Getting your mortgage loan on the internet has many advantages and benefits, although, it is not a good choice for all homebuyers. Online mortgage loans are both quick and convenient. The application process can be completed in the privacy of your home, at your leisure.
Applying for a mortgage online takes much less time to receive a reply when you apply. You can receive and compare the rates of numerous lenders almost instantly. Online shoppers are able to receive estimates on closing or settlement costs at the same time they apply for the loan rates. When applying for a loan in person, lenders are not required to provide a “good faith estimate” until 72 hours after receiving the loan application. The amount of time you will save from not having to contact lenders by phone or email makes online mortgage loans very attractive to applicants.
Save Money by Applying Online
The process of completing an online mortgage loan application is less costly for the lender. When an application is filed online, the customer does not need to visit the lenders office or meet with an agent to fill out forms. When the cost of business is reduced, the lender is then able to give the customer a better rate. By applying online, customers are often given a discount on interest rates, loan origination fees, and closing costs. In general, customers who apply online tend to have more knowledge of the loan process and often have a good credit history. The less likely you are to be considered a risk, the more likely you are to be approved by the lender. There is also a great deal of competition among online lenders. In order to be successful, lenders must be able to offer rates that are competitive.
Applying Online is Safe
Many people are cautious about applying for an online mortgage loan because they fear their credit information may be stolen. However, your chances of becoming a victim of identity theft are just as great when you apply for a loan in person. The vast majority of online lenders use encrypted transmission to send your loan information. After you complete the application, the text is changed to a secure code, which makes it difficult for others to obtain your personal information.
To view our recommended sources for good and bad credit mortgage lenders online, visit this site:
Recommended Online Mortgage Lenders.
Carrie Reeder is the owner of ABC Loan
Guide, an informational website about many difference finance topics.
Applying for a mortgage online takes much less time to receive a reply when you apply. You can receive and compare the rates of numerous lenders almost instantly. Online shoppers are able to receive estimates on closing or settlement costs at the same time they apply for the loan rates. When applying for a loan in person, lenders are not required to provide a “good faith estimate” until 72 hours after receiving the loan application. The amount of time you will save from not having to contact lenders by phone or email makes online mortgage loans very attractive to applicants.
Save Money by Applying Online
The process of completing an online mortgage loan application is less costly for the lender. When an application is filed online, the customer does not need to visit the lenders office or meet with an agent to fill out forms. When the cost of business is reduced, the lender is then able to give the customer a better rate. By applying online, customers are often given a discount on interest rates, loan origination fees, and closing costs. In general, customers who apply online tend to have more knowledge of the loan process and often have a good credit history. The less likely you are to be considered a risk, the more likely you are to be approved by the lender. There is also a great deal of competition among online lenders. In order to be successful, lenders must be able to offer rates that are competitive.
Applying Online is Safe
Many people are cautious about applying for an online mortgage loan because they fear their credit information may be stolen. However, your chances of becoming a victim of identity theft are just as great when you apply for a loan in person. The vast majority of online lenders use encrypted transmission to send your loan information. After you complete the application, the text is changed to a secure code, which makes it difficult for others to obtain your personal information.
To view our recommended sources for good and bad credit mortgage lenders online, visit this site:
Recommended Online Mortgage Lenders.
Carrie Reeder is the owner of ABC Loan
Guide, an informational website about many difference finance topics.
วันอังคารที่ 15 กันยายน พ.ศ. 2552
Online Mortgage Quote - Tips on Getting a Mortgage Quote Online
Getting your mortgage loan on the internet has many advantages and benefits, although, it is not a good choice for all homebuyers. Online mortgage loans are both quick and convenient. The application process can be completed in the privacy of your home, at your leisure.
Applying for a mortgage online takes much less time to receive a reply when you apply. You can receive and compare the rates of numerous lenders almost instantly. Online shoppers are able to receive estimates on closing or settlement costs at the same time they apply for the loan rates. When applying for a loan in person, lenders are not required to provide a “good faith estimate” until 72 hours after receiving the loan application. The amount of time you will save from not having to contact lenders by phone or email makes online mortgage loans very attractive to applicants.
Save Money by Applying Online
The process of completing an online mortgage loan application is less costly for the lender. When an application is filed online, the customer does not need to visit the lenders office or meet with an agent to fill out forms. When the cost of business is reduced, the lender is then able to give the customer a better rate. By applying online, customers are often given a discount on interest rates, loan origination fees, and closing costs. In general, customers who apply online tend to have more knowledge of the loan process and often have a good credit history. The less likely you are to be considered a risk, the more likely you are to be approved by the lender. There is also a great deal of competition among online lenders. In order to be successful, lenders must be able to offer rates that are competitive.
Applying Online is Safe
Many people are cautious about applying for an online mortgage loan because they fear their credit information may be stolen. However, your chances of becoming a victim of identity theft are just as great when you apply for a loan in person. The vast majority of online lenders use encrypted transmission to send your loan information. After you complete the application, the text is changed to a secure code, which makes it difficult for others to obtain your personal information.
To view our recommended sources for good and bad credit mortgage lenders online, visit this site:
Recommended Online Mortgage Lenders.
Carrie Reeder is the owner of ABC Loan
Guide, an informational website about many difference finance topics.
Applying for a mortgage online takes much less time to receive a reply when you apply. You can receive and compare the rates of numerous lenders almost instantly. Online shoppers are able to receive estimates on closing or settlement costs at the same time they apply for the loan rates. When applying for a loan in person, lenders are not required to provide a “good faith estimate” until 72 hours after receiving the loan application. The amount of time you will save from not having to contact lenders by phone or email makes online mortgage loans very attractive to applicants.
Save Money by Applying Online
The process of completing an online mortgage loan application is less costly for the lender. When an application is filed online, the customer does not need to visit the lenders office or meet with an agent to fill out forms. When the cost of business is reduced, the lender is then able to give the customer a better rate. By applying online, customers are often given a discount on interest rates, loan origination fees, and closing costs. In general, customers who apply online tend to have more knowledge of the loan process and often have a good credit history. The less likely you are to be considered a risk, the more likely you are to be approved by the lender. There is also a great deal of competition among online lenders. In order to be successful, lenders must be able to offer rates that are competitive.
Applying Online is Safe
Many people are cautious about applying for an online mortgage loan because they fear their credit information may be stolen. However, your chances of becoming a victim of identity theft are just as great when you apply for a loan in person. The vast majority of online lenders use encrypted transmission to send your loan information. After you complete the application, the text is changed to a secure code, which makes it difficult for others to obtain your personal information.
To view our recommended sources for good and bad credit mortgage lenders online, visit this site:
Recommended Online Mortgage Lenders.
Carrie Reeder is the owner of ABC Loan
Guide, an informational website about many difference finance topics.
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