Where To Find The Best Rates For Your Mortgage?

As with all of my articles this will be based on a scenario in my home town. (Which may be similar to yours).

Loans and mortgages can be a tricky business, not to mention a costly business if you are unsure where to go and seek out help. The fact is that most local bankers and lenders will look over your present situation checking items such as your past payment history, your overall credit rating and most importantly your present income. Either yours or yours and your partners. This will in turn pretty much get you 2 or 3 options at best. So you shop around and you get the same offers almost eveywhere you go.

There is another way to help you find the best rate.

With technology advancing and with mortgages being such big business due to the lifespan of how long you will be paying the lender, your options are not nearly as limited as you may or may not be lead to believe. I was doing a seminar a few weeks ago with a room of about 20 people who were all looking at cost effective ways to get into a home and how to make sure they were getting the best option for their money. Now this is very important for several reasons :

1. It's your money, you want the best and most practical mortgage payment available.

2. This is a long term investment, so you do the math here. What makes more sense $700.00 a month or $900.00 a month? Yes, it is a trick question, because it depends on how long the terms are and how much you can afford. It may seem off but alot of times the $900.00 is worse, usually more is better but well read the fine print.

3. You want competition. Keep reading and I will explain.

Alright, the more competition you get the better it is for you in the long run because the lender wants your business. But...if you live in a small town, like I do, you may not have much competition at all. So if you don't like what they offer you what do you do? Do you necessarily take the best offer? Personally I wouldn't...I would do some digging, alot of people still don't realize that you can actually take 5 or 10 minutes at most and check out the internet for a whole slew of lenders and mortgage companies that will literally fight for your business. It's true and it's convenient for you. You don't have to make an appointment, get dressed up, take a "positive" pill and get all stressed out over the meeting. You simply go online, fill out a few forms (as many as you like) and wait for the replies. It's fast, its incredibly effective, and it will more than likely save you a lot of time and money in the long run.

That being said, you should still make sure you are comfortable wih the companies you fill the forms out with and here are a few must tips to doing this :

1. Give out as much personal information as you are comfortable with, don't fill out anything you suspect to be non-required information.

2. Make sure the companis are reputable, look for a B.B.B logo on the page. (Better Business Bureau)

3. This is not a must but a recommendation, when asked for your email give them one you check periodically, I never give out my personal email to any company unless I have been doing business with them for awhile, just to avoid alot of potential email I don't want.

4. Final option, go to www.alexa.com and see what their overall rating is online, take a look at the companies stats. Have they been around awhile? etc. and if you can view their testimonial pages. If they have alot of testimonials then chances are you have found a reputable company to go with.

Well, there it is. The internet can give you alot of options and alot of companies who will fight for your business and again, in the end you win. You will get the best mortgage available and you get to choose the company. Peace of mind.

Until next time.

Take care,

Garret Belisle is the author of a blog designed to help you on your way to home ownership, and some helpful tricks on down payments and credit repair.

You can view the site here at http://www.gbcmortgage.blogspot.com While you're there make sure to sign up for the weekly updates on the bottom left corner to keep up to date with all of the latest advice.

---

Mortgage Loans Explained In Plain English

With the many different kinds of mortgage loans out there,... Read More

Types of Mortgage Interest Rate

Here is a useful guide to the different types of... Read More

Mortgage Information for the First Time Homebuyer

Inflation in the United States is increasing rapidly and home... Read More

Home Equity Loans Can Provide Cash in a Hurry

Think About the Long Term. Estimate how long you expect... Read More

Sorting through mortgage elimination programs

Mortgage elimination programs are all the rage these days. In... Read More

Before You Buy

Before you start looking for a home, figure out what... Read More

Home Equity Loans Company ? 7 Key Questions to Help You Choose One

Choosing the right home equity loan can be tricky; you... Read More

UK Mortages: A Guide Through The Maze

Types of UK MortgagesYou may be wasting your money with... Read More

FHA Mortgage: When Your Downpayment is a Gift

There has been so much fraud discovered in the FHA... Read More

Home Loans ? Repair Credit Errors in Three Days!

Most consumers are aware that a history of paying bills... Read More

Refinance Mortgage Loan ? Tips on Refinancing Your Home Mortgage

Refinancing your home mortgage can come with some great perks.... Read More

Home Loans ? Lenders Continue to Offer High-Risk Loans

Home prices in the Untied States continue to soar, and... Read More

Zero Down Payment Mortgage ? Can It Be Done?

"I've been renting for years now; I've always paid my... Read More

What is a Capped Mortgage?

A capped mortgage is a variable rate mortgage with a... Read More

Mortgage Information

A mortgage is borrowing money using property as a security,... Read More

Five Things Never To Tell Your Mortgage Lender When Facing Foreclosure

1. Never discuss your household finances over the phone with... Read More

Home Owner Loans Explained

How To Release Equity Locked Up In Your Home For... Read More

Home Equity Loan ? When Does Refinancing Make Sense?

For the last two years, interest rates have been much... Read More

Bad Credit Home Financing - Get The Mortgage Loan You Want Even With Poor Credit

Having poor credit alone cannot hold you back from getting... Read More

Alternative Options For Rising Interest Rates

As interest rates have risen in the last six weeks... Read More

Refinance Mortgage Rate and Mortgage Rates

Refinance mortgage rate is the best rate available to qualified... Read More

California Refinance - Refinancing in California

The real estate market in California is booming. Home values... Read More

Mortgage: Effective Household Investment for Financial Autonomy

If finances had a copyright, we would have bought it... Read More

Home Equity Loans in Texas

A few notes of importance: This only applies to... Read More

Online Mortgage Brokers - What You Might Not Know About Home Loans & The Internet

You may think that applying online for a mortgage is... Read More

Refinance Your Property Online

By refinancing your property online you can take advantage of... Read More

Home Equity Loan - Is It For You?

A Home equity loan has become an easy way to... Read More

Home Equity ? Is it Time to Cash Out and Move?

During the last five years, home prices have increased nationwide.... Read More

Thought You Can Go All Alone In Mortgages! Mortgage Advice Beneficial In All Important Decisions

Mortgages are easy as long as you understand them well.... Read More

Buying A Home With No Money Down or Bad Credit - PMI Can Make It Easier

Private mortgage insurance is an excellent method for homebuyers who... Read More

How to Get Cheap Home Loans with a Bad Credit

It's been years since you made any major improvements to... Read More

Revive Mortgage Tenure With Extend Loan Term Remortgage

You are comfortably wedged in a mortgage deal, paying the... Read More

Option ARM Mortgage Loan - Is This Really for You?

What happened to the days of a 15 or 30... Read More