By Louise Wasa
Very low mortgage rates have been instrumental in increasing the purchasing power of millions in the US, Europe and around the world. For one year mortgage rates are on the rise and home prices leveling out. Foreclosures are becoming more common, especially in the American Midwest, but it is still on a low level.
We can now expect a gradual rise in mortgage rates the coming year. The 30-year rates will likely continue to rise in the upcoming months, but should not go past 7% in the US. In Europe the 5 year interest rate is around 5-6%. So if you plan to get a fixed rate loan, you should act quickly because mortgage rates are predicted to push past 7% in the US over the next few weeks.
The second mortgage rates on high loans to value loans above 90% on real estate investment properties can come close to 20%, even if you have a very good score. It might be a good time now to refinance your home or get a mortgage loan with attractive rates. Search the Internet and you will find a lot of online companies offering low mortgage rates all over the country.
A survey that was performed recently shows that there is a increase of foreclosure rates and delinquent mortgage payments across the country. Also lenders, just like consumers, feel the effects of a slowing economy and rising mortgage interest rates. No wonder we hear lots of discussions about rising mortgage interest rates.
A forty-year mortgage rates offer lower monthly installments, which suits the needs of first time home buyers as well as borrower who otherwise do not qualify for any other option. Of course there are many factors that can affect the mortgage rates but mortgage rates should be relatively stable for the foreseeable future.
Some persons prefer to have a fixed mortgage payment to maintain their peace of mind. Then you should have it and if you took the loan a couple of years ago you certainly made the right choice. For others there are a wide range of options currently available.
With an adjustable rate, the rate of interest is linked to factors like the Prime Rate. There are also other variations of the adjustable interest rate. As said before, if the market appears to be on a longer rise, locking in a fixed rate now can save you money in the future.
It is impossible to mention the rates individually, as there are a wide number of factors and statistics involved and they vary from day to day. It also depends on when you happen to read this article. Often the credit companies are also skeptical in offering the forty-year mortgage rate option to their customers as there are other existing ways of reducing monthly payments.
Searching on the Internet, using lowest mortgage rates as keyword, will provide you detailed information on Compare Low Mortgage Rates, Lowest Commercial Mortgage Rates, Lowest First Mortgage Rates, Lowest Fixed Mortgage Rates and more. That is an excellent way to get the basic facts for the time being and will give you a better understanding of which plan to choose.
Louise Wasa always writes about valuable news & reviews. A related resource is News on Economy Further information can be found at Economy & More
Saturday, December 30, 2006
Friday, December 29, 2006
The Best Reverse Mortgage Payment Plan
By Tim Paul
Reverse mortgages are products available only to senior citizen homeowners (over age 62) that allows them to take cash equity from their homes to use for living expenses. Under a reverse mortgage, the lender makes loan payments to the borrower and the loan is repaid when the house is sold or the homeowner dies. The HUD/FHA Home Equity Conversion Mortgage (HECM) is by far the most popular type of reverse mortgage.
The HECM program offers borrowers a variety of options by which they can elect to be paid the borrowed funds:
line of credit - by far the most popular option which allows homeowners to draw funds as needed;
lump sum - similar to a regular home equity loan with funds paid at closing;
term - fixed payment for specified number of years (e.g. 10 years);
tenure - equal monthly payments for as long as the borrower remains in the home
combinations of the above
Nearly four out of five HECM borrowers (78%) opt for the line of credit payment option. There are two big reasons why people feel this is the best choice:
First, funds are drawn only when needed and interest accrues only on funds actually drawn-down. This maximizes flexibility and minimizes interest costs. Second, the untapped balance of the line of credit actually grows at a healthy rate until the funds are drawn. This means the size of the loan available to the homeowner can grow.
With features like this it's not hard to see why the line of credit option is so popular. But is this really the best deal for seniors?
Increasingly, research suggests that the lowly tenure payment option - selected by only five percent of borrowers - may be the best financial choice. The tenure option provides guaranteed equal monthly payments for as long as the borrower lives in the home.
For example, studies, such as done by Met Life and the Society of Actuaries, consistently find that a large majority of both retirees and pre-retirees underestimate life expectancies. According to Met Life, not only do people underestimate longevity, they do not view it as a financial risk. Just 2 of 10 (23%) people understand that longevity is the greatest financial risk facing retirees. Inflation is a very significant financial risk, selected by 41% of respondents, but it is important to note that longevity risk is exacerbated by inflation risk.
Like an annuity, the tenure payment option provides a regular monthly income stream that can help protect borrowers from outliving their resources.
Another study from the Center for Retirement Research at Boston College concludes that the HECM lifetime income plan (tenure option) is the best financial choice for seniors under almost all scenarios:
"We find that over a wide variety of assumptions about asset returns, the optimal strategy for all but the most risk tolerant households is to take a reverse mortgage in the form of a lifetime income. We are informed by the National Reverse Mortgage Lenders Association that only a small minority of borrowers choose this option, as most choose a line of credit. Our findings appear to be yet another manifestation of the widely documented reluctance of households to annuitize their wealth in retirement. There are substantial differences in reverse mortgage equivalent wealth among strategies, and in our base case a household with average housing and financial wealth...would be 33 percent better off taking a lifetime income at age 65 relative to taking a line of credit when financial wealth is exhausted." (From "Optimal Retirement Asset Decumulation Strategies: The Impact of Housing Wealth, Wei Sun, Robert K. Triest, and Anthony Webb - November 2006 -
To be sure, there are good arguments against choosing fixed payments. For one, over time inflation will erode the purchasing power of fixed monthly payments. Also, if the homeowner is forced to sell because of declining health or other factor, the loan must be repaid and the monthly income stream stops.
Still, as the reverse mortgage marketplace continues to grow, it is important that potential borrowers consider all payment options. The overwhelming popularity of the HECM line of credit payment option may be more a sign of a "follow the crowd" mentality, not sound financial decision-making.
Tim Paul is a financial management executive with more than 25 years experience. His websites focus on personal finance issues including HELOC Loans and providing unbiased reverse mortgage information to senior homeowners.
Reverse mortgages are products available only to senior citizen homeowners (over age 62) that allows them to take cash equity from their homes to use for living expenses. Under a reverse mortgage, the lender makes loan payments to the borrower and the loan is repaid when the house is sold or the homeowner dies. The HUD/FHA Home Equity Conversion Mortgage (HECM) is by far the most popular type of reverse mortgage.
The HECM program offers borrowers a variety of options by which they can elect to be paid the borrowed funds:
line of credit - by far the most popular option which allows homeowners to draw funds as needed;
lump sum - similar to a regular home equity loan with funds paid at closing;
term - fixed payment for specified number of years (e.g. 10 years);
tenure - equal monthly payments for as long as the borrower remains in the home
combinations of the above
Nearly four out of five HECM borrowers (78%) opt for the line of credit payment option. There are two big reasons why people feel this is the best choice:
First, funds are drawn only when needed and interest accrues only on funds actually drawn-down. This maximizes flexibility and minimizes interest costs. Second, the untapped balance of the line of credit actually grows at a healthy rate until the funds are drawn. This means the size of the loan available to the homeowner can grow.
With features like this it's not hard to see why the line of credit option is so popular. But is this really the best deal for seniors?
Increasingly, research suggests that the lowly tenure payment option - selected by only five percent of borrowers - may be the best financial choice. The tenure option provides guaranteed equal monthly payments for as long as the borrower lives in the home.
For example, studies, such as done by Met Life and the Society of Actuaries, consistently find that a large majority of both retirees and pre-retirees underestimate life expectancies. According to Met Life, not only do people underestimate longevity, they do not view it as a financial risk. Just 2 of 10 (23%) people understand that longevity is the greatest financial risk facing retirees. Inflation is a very significant financial risk, selected by 41% of respondents, but it is important to note that longevity risk is exacerbated by inflation risk.
Like an annuity, the tenure payment option provides a regular monthly income stream that can help protect borrowers from outliving their resources.
Another study from the Center for Retirement Research at Boston College concludes that the HECM lifetime income plan (tenure option) is the best financial choice for seniors under almost all scenarios:
"We find that over a wide variety of assumptions about asset returns, the optimal strategy for all but the most risk tolerant households is to take a reverse mortgage in the form of a lifetime income. We are informed by the National Reverse Mortgage Lenders Association that only a small minority of borrowers choose this option, as most choose a line of credit. Our findings appear to be yet another manifestation of the widely documented reluctance of households to annuitize their wealth in retirement. There are substantial differences in reverse mortgage equivalent wealth among strategies, and in our base case a household with average housing and financial wealth...would be 33 percent better off taking a lifetime income at age 65 relative to taking a line of credit when financial wealth is exhausted." (From "Optimal Retirement Asset Decumulation Strategies: The Impact of Housing Wealth, Wei Sun, Robert K. Triest, and Anthony Webb - November 2006 -
To be sure, there are good arguments against choosing fixed payments. For one, over time inflation will erode the purchasing power of fixed monthly payments. Also, if the homeowner is forced to sell because of declining health or other factor, the loan must be repaid and the monthly income stream stops.
Still, as the reverse mortgage marketplace continues to grow, it is important that potential borrowers consider all payment options. The overwhelming popularity of the HECM line of credit payment option may be more a sign of a "follow the crowd" mentality, not sound financial decision-making.
Tim Paul is a financial management executive with more than 25 years experience. His websites focus on personal finance issues including HELOC Loans and providing unbiased reverse mortgage information to senior homeowners.
Monday, December 25, 2006
Mortgages Are For Life - The 52 Year Mortgage Is Here by MoneyExpert
The old days of mortgages lasting for 25 years are on their way out as lenders react to rising house prices and the squeeze on borrowers.
Until recently you had no choice about how long you had a mortgage for. You paid it back in 25 years or else. However our research shows the market has changed dramatically.
Now more than a third of mortgage lenders will offer terms of 40 years or more. Some will even lend for as long as 52 years. Put simply the longer you take to pay off your mortgage the less you will pay each month. But it's not quite that simple.
You need to pay it off sometime
At the most basic level, mortgages fall into two categories: repayment and interest-only. With a repayment mortgage, you pay off your mortgage bit by bit every month.
With an interest-only mortgage, the borrower only pays the interest, but usually with a view to paying off the original amount borrowed at the end of the mortgage term. If you are only paying interest then that cuts the amount you pay each month.
Of course you also need some way to pay off the debt. That means having a savings plan in place, such as an investment ISA, or a pension scheme.
The problem with the pension option is that you have to wait until you retire until you can claim your tax-free lump-sum to pay off your mortgage. But the advantage of both ISA and pension options is that the tax breaks you receive help you repay your mortgage.
The earlier the better
These days, most lenders allow you to make lump-sum payments to reduce your mortgage. This can be limited to a certain proportion of the debt, such as 10% per annum. This applies to both interest-only and repayment deals. Some mortgages allow you to pay off as much as you want.
If you have a repayment mortgage you can also significantly reduce the amount of interest you pay by many thousands of pounds by opting for an early repayment scheme.
This will mean that you monthly payments will be higher than you currently pay but will save you thousands of pounds in interest payments by reducing the term of a mortgage from 25 years to say 20, 15 or even 10 years, for example. If you can afford the higher repayments, it is a very attractive option.
The two year mortgage merry-go-round
It is now quite rare, and often inadvisable, to stick with one company for the length of your mortgage.
While a mortgage might nominally be for 25 or 40 or even 52 years, the fact is that you should be looking to re-mortgage every few years.
There are always good deals coming onto the market and it is unlikely that your mortgage will always be the best deal for you, even if that was the case when you first took it out.
Reducing your interest repayments might also leave more money available to pay off more of your mortgage debt.
The basic point is that if you take out a 40-year mortgage your repayments could be around £100 a month lower than for a 25-year mortgage. If after five or 10 years you can afford to pay more you can make lump sums payments or even cut the length of the mortgage.
The danger though is that the longer you take to repay your mortgage the more it costs in interest.
On a £100,000 mortgage at 6 per cent you'd pay £93,200 in interest over 25 years. Over 40 years you'd pay £164,100 in interest. That's a £70,000 difference. And remember you might not want to be working well into your 60s or even 70s to keep up payments on your mortgage.
When does it end?
In theory, you could keep re-mortgaging, although in practice, lenders will be unlikely to allow you to have a mortgage past retirement. They will look at your circumstances and set a limit to when they expect the mortgage debt to be paid off.
What Next?
First, use our calculator to find the best mortgage interest rate for your circumstances. Then complete our simple online form to arrange for Mortgage Advice from a Qualified Mortgage Adviser.
Until recently you had no choice about how long you had a mortgage for. You paid it back in 25 years or else. However our research shows the market has changed dramatically.
Now more than a third of mortgage lenders will offer terms of 40 years or more. Some will even lend for as long as 52 years. Put simply the longer you take to pay off your mortgage the less you will pay each month. But it's not quite that simple.
You need to pay it off sometime
At the most basic level, mortgages fall into two categories: repayment and interest-only. With a repayment mortgage, you pay off your mortgage bit by bit every month.
With an interest-only mortgage, the borrower only pays the interest, but usually with a view to paying off the original amount borrowed at the end of the mortgage term. If you are only paying interest then that cuts the amount you pay each month.
Of course you also need some way to pay off the debt. That means having a savings plan in place, such as an investment ISA, or a pension scheme.
The problem with the pension option is that you have to wait until you retire until you can claim your tax-free lump-sum to pay off your mortgage. But the advantage of both ISA and pension options is that the tax breaks you receive help you repay your mortgage.
The earlier the better
These days, most lenders allow you to make lump-sum payments to reduce your mortgage. This can be limited to a certain proportion of the debt, such as 10% per annum. This applies to both interest-only and repayment deals. Some mortgages allow you to pay off as much as you want.
If you have a repayment mortgage you can also significantly reduce the amount of interest you pay by many thousands of pounds by opting for an early repayment scheme.
This will mean that you monthly payments will be higher than you currently pay but will save you thousands of pounds in interest payments by reducing the term of a mortgage from 25 years to say 20, 15 or even 10 years, for example. If you can afford the higher repayments, it is a very attractive option.
The two year mortgage merry-go-round
It is now quite rare, and often inadvisable, to stick with one company for the length of your mortgage.
While a mortgage might nominally be for 25 or 40 or even 52 years, the fact is that you should be looking to re-mortgage every few years.
There are always good deals coming onto the market and it is unlikely that your mortgage will always be the best deal for you, even if that was the case when you first took it out.
Reducing your interest repayments might also leave more money available to pay off more of your mortgage debt.
The basic point is that if you take out a 40-year mortgage your repayments could be around £100 a month lower than for a 25-year mortgage. If after five or 10 years you can afford to pay more you can make lump sums payments or even cut the length of the mortgage.
The danger though is that the longer you take to repay your mortgage the more it costs in interest.
On a £100,000 mortgage at 6 per cent you'd pay £93,200 in interest over 25 years. Over 40 years you'd pay £164,100 in interest. That's a £70,000 difference. And remember you might not want to be working well into your 60s or even 70s to keep up payments on your mortgage.
When does it end?
In theory, you could keep re-mortgaging, although in practice, lenders will be unlikely to allow you to have a mortgage past retirement. They will look at your circumstances and set a limit to when they expect the mortgage debt to be paid off.
What Next?
First, use our calculator to find the best mortgage interest rate for your circumstances. Then complete our simple online form to arrange for Mortgage Advice from a Qualified Mortgage Adviser.
Sunday, December 24, 2006
Benefits Of Mortgage Refinancing by Susan Chen
Financial decisions are one of the most important decisions to make in anyone's life. Smart financial decisions go beyond the issues of normal savings or periodical investments. Sometimes you are faced with a tough decision in order to improve your personal financial situation. A mortgage refinance is one such aspect of your personal finance that can breathe some life into your stagnant financial situation.
Mortgage refinancing involves paying off your earlier debts with the new loan amount. You get to enjoy a number of benefits from refinancing your mortgage.
The most important advantage of home refinance is that it comes with a considerably lower interest rate. Homeowners generally have to carry a heavy mortgage payment every month, so homeowners are often on the lookout for ways to reduce their monthly mortgage payment. The only way of accomplishing this goal is through home refinancing at a lower interest rate, meaning lower mortgage payments.
The mortgage loans come with two types of interest rates, namely fixed rate and adjustable rate. Refinancing your mortgage also allows you to switch from a fixed rate to an adjustable rate of interest. The mortgages with adjustable rates are the most cost effective when the interest rates are low. In contrast, fixed rates mortgage loans are the wiser option when interest rates are high. It is also a good idea to change the mortgage from a fixed rate to an adjustable rate when the interest rate starts going down.
In many cases owning full equity of your home generally requires a period of over thirty years to pay off the mortgage. Refinancing your home allows you to cut the mortgage duration shorter by several years and you will be able to own full home equity in approximately half the time. This will save you thousands of dollars on your interest payments while building up your home equity over the years.
The best part of mortgage refinancing is that it provides you with a huge amount of extra cash. The equity you have built in your home over the years entitles you to this extra cash from refinancing. You can use this extra cash for many purposes, ranging from debt consolidation to home improvement to funding your children's higher education.
In a nutshell, if you want to make a smart financial decision that will allow you to save and gain some extra cash at the same time, there can be no better solution than mortgage refinancing.
Mortgage refinancing involves paying off your earlier debts with the new loan amount. You get to enjoy a number of benefits from refinancing your mortgage.
The most important advantage of home refinance is that it comes with a considerably lower interest rate. Homeowners generally have to carry a heavy mortgage payment every month, so homeowners are often on the lookout for ways to reduce their monthly mortgage payment. The only way of accomplishing this goal is through home refinancing at a lower interest rate, meaning lower mortgage payments.
The mortgage loans come with two types of interest rates, namely fixed rate and adjustable rate. Refinancing your mortgage also allows you to switch from a fixed rate to an adjustable rate of interest. The mortgages with adjustable rates are the most cost effective when the interest rates are low. In contrast, fixed rates mortgage loans are the wiser option when interest rates are high. It is also a good idea to change the mortgage from a fixed rate to an adjustable rate when the interest rate starts going down.
In many cases owning full equity of your home generally requires a period of over thirty years to pay off the mortgage. Refinancing your home allows you to cut the mortgage duration shorter by several years and you will be able to own full home equity in approximately half the time. This will save you thousands of dollars on your interest payments while building up your home equity over the years.
The best part of mortgage refinancing is that it provides you with a huge amount of extra cash. The equity you have built in your home over the years entitles you to this extra cash from refinancing. You can use this extra cash for many purposes, ranging from debt consolidation to home improvement to funding your children's higher education.
In a nutshell, if you want to make a smart financial decision that will allow you to save and gain some extra cash at the same time, there can be no better solution than mortgage refinancing.
Friday, December 22, 2006
Is A Second Mortgage Too Much Of A Good Thing?
By Lee Van
So what happens to people who over extend and borrow to much? The borrower is eventually deeply in debt with no hope of getting out of it. People have been known to file for bankruptcy as a last resort. There are unfortunately no reputable money lenders or banks that make provision for small loans to be borrowed for a short length of time. This could become a very good income for one of these agencies if they would like to start such a facility. Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year.
One drawback to HELOCs, however, is the fact that borrowers are expected to put their homes up as collateral. So, it is important that you think this decision through, before finalizing the loan, because you may be at risk of losing your home- and its equity- if you are late or cannot make your monthly payments. Finally, if you decide to sell your home, must HELOCs will require that you pay off the balance, before completing the sale.
You can also take out a second mortgage, if you need some cash. Like the HELOC, second mortgages usually pay out the loan in one sum, which makes it a convenient option. Second mortgages also have the added advantage of having set payments, at a fixed interest rate. Many companies will charge a lending fee, which will vary from company to company. These fees are usually based upon a percentage of the loan and are frequently referred to as 'points.' If one fee seems too high, don't be afraid to shop around to find one which is better suited to your budget.
Thursday, December 14, 2006
4 things to watch out for when choosing a mortgage company
By Bart Fadington
We all know that there are a lot of mortgage companies out there. But how do you know which company to choose? Some companies have flashy advertisements about low interest rates, but are they really the best company to choose? A mortgage is a very large investment, so the company that you choose has to be the best company out there for you. As a mortgage expert, I can give you a few tips when choosing a mortgage company.
1. Watch out for interest rates. Some companies have higher interest rates than others. Choose the company with the best interest rate for you (usually the lowest, but not always). Be careful of special promotions that have hidden fees. Don’t get sucked in by an extremely low interest rate. Be sure you know everything involved with that interest rate. Be sure to check things out and understand the terms of the interest. If you do this, you will have a much better chance of getting a nice interest rate that you and your family are comfortable with.
2. Be sure to know all of the fees. Some mortgage companies have hidden fees, or they tack on additional costs. Don’t get stuck paying extremely large fees. Once again, companies will try to hide behind low interest rates, but then they will stick you with several large fees. Don’t fall for it!
3. Be mindful of the application and appraisal fees. You want to get the lowest fee possible with the highest quality service. Some mortgage companies charge insane amounts for applications and appraisals. Charging a lot does not necessarily mean that they are worthwhile companies. The best service, for the lowest price is always the best way to go!
4. Finally, and most important of all, is the service. Some companies are not committed to their customers. A Mortgage company that gives you terrible service, but extremely low rates is not the best company out there. Watch out for companies with quite a few different contacts. One on one customer service is the best. You want a mortgage company that cares and is willing to get to know you and your needs. How a mortgage company presents itself to its customers, and how it handles them is a reflection of the kind of company it is. A company that has lousy service, rude representatives, and little customer interaction is not the company for you. A quality company will be attentive to your needs because you are the customer, and you are what is most important.
Choosing a mortgage company may seem like a daunting task. Just remember to keep costs in mind. The most expensive is not always the best, nor is the cheapest always the best. Keep in mind service. Service is the most accurate representation of a company. If you follow these simple tasks I am positive that you will choose the best mortgage company for you and your family.
We all know that there are a lot of mortgage companies out there. But how do you know which company to choose? Some companies have flashy advertisements about low interest rates, but are they really the best company to choose? A mortgage is a very large investment, so the company that you choose has to be the best company out there for you. As a mortgage expert, I can give you a few tips when choosing a mortgage company.
1. Watch out for interest rates. Some companies have higher interest rates than others. Choose the company with the best interest rate for you (usually the lowest, but not always). Be careful of special promotions that have hidden fees. Don’t get sucked in by an extremely low interest rate. Be sure you know everything involved with that interest rate. Be sure to check things out and understand the terms of the interest. If you do this, you will have a much better chance of getting a nice interest rate that you and your family are comfortable with.
2. Be sure to know all of the fees. Some mortgage companies have hidden fees, or they tack on additional costs. Don’t get stuck paying extremely large fees. Once again, companies will try to hide behind low interest rates, but then they will stick you with several large fees. Don’t fall for it!
3. Be mindful of the application and appraisal fees. You want to get the lowest fee possible with the highest quality service. Some mortgage companies charge insane amounts for applications and appraisals. Charging a lot does not necessarily mean that they are worthwhile companies. The best service, for the lowest price is always the best way to go!
4. Finally, and most important of all, is the service. Some companies are not committed to their customers. A Mortgage company that gives you terrible service, but extremely low rates is not the best company out there. Watch out for companies with quite a few different contacts. One on one customer service is the best. You want a mortgage company that cares and is willing to get to know you and your needs. How a mortgage company presents itself to its customers, and how it handles them is a reflection of the kind of company it is. A company that has lousy service, rude representatives, and little customer interaction is not the company for you. A quality company will be attentive to your needs because you are the customer, and you are what is most important.
Choosing a mortgage company may seem like a daunting task. Just remember to keep costs in mind. The most expensive is not always the best, nor is the cheapest always the best. Keep in mind service. Service is the most accurate representation of a company. If you follow these simple tasks I am positive that you will choose the best mortgage company for you and your family.
Tuesday, November 28, 2006
Free Mortgage Quote Online – Why You Need One
By Ben Ehinger
Why should you get a free mortgage quote online? What can it do for you and why would you want to get a free mortgage quote online? There are a few benefits of getting an online mortgage quote.
Benefit #1 – It is a fast way to compare many different companies at once
When you apply for an online mortgage quote you can compare multiple lenders at one time and have them contacting you. This is a fast way to shop around and find out what type of loan you can get.
Benefit #2 – It will be better for your credit because they will only pull one credit report
When you apply for an online mortgage quote to compare lenders they will pull one credit report, some don’t even pull a credit report, and deliver it to all the companies. This protects your credit from being hurt from too many inquiries.
Benefit #3 – Online quotes come faster than having to call multiple companies
You will save time and money when you get an online mortgage quote. You will be able to get quotes from 5-10 companies within a few days from one application. To do that without an online quote you would spend hours on the phone and more time faxing documents. Save time and money by getting an online quote
There are three good reasons to start your mortgage search with an online quote. You will save time, compare more lenders, and save precious credit points. Get your online quote today and you will thank me later.
To get an online mortgage quote and compare lenders go to:
Get an online Mortgage Quote here
Why should you get a free mortgage quote online? What can it do for you and why would you want to get a free mortgage quote online? There are a few benefits of getting an online mortgage quote.
Benefit #1 – It is a fast way to compare many different companies at once
When you apply for an online mortgage quote you can compare multiple lenders at one time and have them contacting you. This is a fast way to shop around and find out what type of loan you can get.
Benefit #2 – It will be better for your credit because they will only pull one credit report
When you apply for an online mortgage quote to compare lenders they will pull one credit report, some don’t even pull a credit report, and deliver it to all the companies. This protects your credit from being hurt from too many inquiries.
Benefit #3 – Online quotes come faster than having to call multiple companies
You will save time and money when you get an online mortgage quote. You will be able to get quotes from 5-10 companies within a few days from one application. To do that without an online quote you would spend hours on the phone and more time faxing documents. Save time and money by getting an online quote
There are three good reasons to start your mortgage search with an online quote. You will save time, compare more lenders, and save precious credit points. Get your online quote today and you will thank me later.
To get an online mortgage quote and compare lenders go to:
Get an online Mortgage Quote here
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