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Online Mortgage Quotes
This site is designed to make it fast and easy for you to compare mortgage loans that benefit you the most. Just fill out the one minute form online and you'll be matched with the mortgage lenders and brokers that have the best mortgage quote for your particular request. When you use this free mortgage quote comparison tool, you'll be amazed at how much you can save. When your matched with the right lenders, you save more. Give it a try. it's fast, free and online.
Recent News
Loan Limit Increase announced 03/05/2008
HUD (U.S. department of housing and urban development) just announced a temporary increase for loan amounts in high cost areas up to 729,750. This temporary increase will apply to FHA and conforming loans through December 31, 2008. The amounts are based on 125% of the median home price so they will vary. There are many people that are in jumbo loans that can now refinance into a low fixed rate. This will go into effect as of April 1st and many lenders are taking applications now. Fill out a free mortgage quote request form to get the loan limit increase for your area and zip code.
Read more about the jumbo mortgage loan stimulus program.
Articles and Advice
Real Estate affiliations costing homeowners thousands. You must be aware of these real estate affiliations. If your not, then you run a high risk of overpaying on other services that are necessary in completing your mortgage loan. Over 86% overlook this money saving tip. Read more.
When should I refinance? There are many variables when it comes to determining if a refinance is really worth it or if it's the right time. Use this page for helpful information on determining if refinancing is right for you. Read More.
Hot new mortgage products. There are a few new products on the market that can really benefit the right person or become a nightmare for another. Get the pros and cons and see if one of these new products are right for you. Read More.
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Free Mortgage Advisor. Use our online advice line to ask all you want from comparing mortgage quotes to the closing of your loan. This advisor is free when you use this service to get mortgage quotes. Ask us questions about the home purchase or refinance that you are considering. You can even ask us which quote is better. This is a valuable service that may save you hundreds or thousands of dollars when going through the mortgage process with any lender.
How to get the best mortgage loan:
It is difficult to determine who has the best mortgage for your refinance or home purchase when there are so many options out there. There are three major things to look at when determining which mortgage offer is best for you. First, compare apples to apples. Many people make the mistake of calling lenders and one will quote a variable interest rate and the other may quote a fixed rate. One may quote interest only while the other quotes a fully amortized 30 year mortgage. This can become quite confusing. You can ask one our experts for help in determining which loan program will work best for you.
Once you have determined which loan program is the best for your needs then proceed to next step of gathering mortgage quotes from lenders. Use this service to find the lenders and brokers that have the best mortgage rates for the type of loan that will benefit you the most. So lets say you are gathering quotes on a 30 year fixed rate mortgage. Now here is where mortgage quotes can be just as confusing. Lender A may give you a rate of 5.75% with $4,000 in closing costs where the other may give you a rate of 6.00% with 2000 in closing costs. Which loan is better? It depends on how long you plan to live in the home. Here is a piece of advice that will close the gap to really see who has the best mortgage rate for your home loan. Get quotes based on the par rate as of that day. Par rate means an interest rate that does not require points nor gives you a credit towards closing costs. Once you get the first rate quote, then ask the next lender what the closing costs are for that same rate. Now you are comparing apples to apples. Once you determine who has the best rates, then you can decide if you want to buy down your rate even lower with points or increase your rate to get a credit on your closing costs. Last but not least, you must compare mortgage rates on the same day to determine who truly has the best deal. Why? Interest rates change daily. For example, You call lender A on Monday and they give you a rate of 5.75. Then you call lender B on Tuesday and they give you a rate of 5.625%. On Wednesday you call lender C and they tell you 5.50%. Let's assume the all have the closing costs. So you decide on Wednesday that lender C has the best rate so you are going to apply for approval. What may have happened is that the market has reduced interest rates and now it appears that lender C had the best deal but in reality they may have had a rate of 5.375% on Wednesday. Interest rates change daily and every day you will have to start over when comparing quotes. You simply cannot compare mortgage quotes that are given on different days. Compare over 100 lenders here on the same day with our free mortgage quote service.
Look at some other things that are offered by the mortgage company that considering. Do they have an application fee? Are you getting the information that you really need? Can you lock in the interest rate that was just quoted immediately? Will they put it in writing? Do they offer a float down for your lock? We are dedicated to bringing you the best mortgage quotes from the most reputable and well known mortgage companies in the industry.
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