|Mortgage & Refinancing Information|
New Home Loan - 3 Tips To Speed Up The Mortgage Loan Approval Process
Imagine this: you've found the perfect house, and feel lucky because the interest rates happen to be at an all time low. So you submit your mortgage loan application, and then?wait. The next week, interest rates go up a point, but you're still waiting. Another point would mean a significant amount in the monthly payment you will pay, and you groan when you open the newspaper and find that indeed it has gone up again.
Can this be avoided?
Luckily, there are some steps that you can take to speed up the process of your loan application! Here are a few suggestions.
First of all, if you haven't yet started shopping for your new home, you should consider shopping for a home LOAN before the home. It is possible to be approved for a mortgage loan before you ever find your home, and this will accomplish two things. First of all, it will allow you to lock in an interest rate, which will completely eliminate the "waiting" game mentioned above. In addition, if a seller sees that you are pre-approved, he will be more likely to negotiate with you because he will view you as a "serious" buyer.
If you've already found your dream house and still need to get a mortgage loan approval, there are some steps that you can take to speed up the process.
You should be sure that anytime the mortgage company calls you, that you return their call as soon as possible, and then provide whatever documentation or data they need. Remember, if they call you for something that generally means that they won't be able to move forward on your loan until they receive it.
Next, you can make things easier for the mortgage company by providing them with a file containing all of the information that you know they will need-organized and easy-to-read. For example, you should include your tax returns, income statements, employment records, credit reports, explanation of bad marks on your credit reports, bank and investment records, the contract for your new home, all bank records, and cancelled checks or other evidence of your current mortgage or rental payments. This will save the time of the mortgage company having to ask you for all of this paperwork.
Finally, it won't hurt to call and check the progress every now and then. Mortgage lenders process thousands of loan applications, and you can make sure that yours doesn't sit on the bottom of the stack by calling attention to it with a phone call.
To view our recommended sources for home mortgage loans, visit: Recommended Mortgage Lenders Online.
Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about various types of loans.
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Multiple benchmark mortgage rates floated higher today. If you're shopping for a home loan, see what that means for you.
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How should I apply for a mortgage refinance: in person, by phone or online? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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You can apply for a mortgage refinance in person, over the phone or online. Just make sure that the company is legitimate before providing personal information ...
Is it okay to apply with more than one mortgage lender at the same time? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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Refinance mortgage rate moves lower for Wednesday Bankrate.com
Refinance rates were mixed, but one key rate trended down. If you haven't locked a refi yet, see how your payments might be affected.
Refinance mortgage rate slides for Friday Bankrate.com
Refinance rates were mixed, but one key rate sunk lower. See what that means for your chances of scoring a killer refi rate.
Refinance mortgage rates mixed for Tuesday Bankrate.com
Refinance rates were mixed today. If you're in the market for a refi, see how that could affect you.
Mortgage rates drop below 4.5%. Homeowners scramble to refinance | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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Refinance mortgage rate moves higher for Monday Bankrate.com
Refinance rates were mixed, but one key rate trended upward. If you're in the market for a mortgage, see how your payments might be affected.
Refinance mortgage rate dips for Tuesday Bankrate.com
Refinance rates were mixed, but one key rate decreased. If you're in the market for a home loan, see how your payments might be affected.
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Q: I was offered a mortgage “recast” and I need help evaluating if it is a sound financial move. My home is worth $250,000. I owe about $68,000, as I have been ...
Refinance mortgage rates mixed for Saturday Bankrate.com
Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.
Refinance rates decline for Thursday Bankrate.com
Several benchmark refinance rates decreased today. See what that means for your refinance.
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A significant drop in mortgage interest rates was not enough to entice homeowners to refinance their loans last week.
Refinance mortgage rates mixed for Monday Bankrate.com
Refinance rates were mixed today. If you're shopping for a mortgage, see how your payments might be affected.
Refinance mortgage rate falls for Friday Bankrate.com
Refinance rates were mixed, but one key rate declined. If you're shopping for a mortgage, see how your payments might be affected.
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Credible Expands Their Marketplace Into Mortgage Refinancing Lend Academy
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Should You Refinance Your Mortgage? Forbes
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Refinance rates retreat for Monday Bankrate.com
Multiple benchmark refinance rates tapered off today. If you're in the market for a mortgage, see how your payments might be affected.
Refinance mortgage rate rises for Thursday Bankrate.com
Refinance rates were mixed, but one key rate climbed higher. If you're shopping for a mortgage, see what that means for you.
Refinance rates fall for Wednesday Bankrate.com
Multiple key refinance rates ticked downward today. If you haven't locked a refi yet, see how that could affect you.
Refinance rates advance for Saturday Bankrate.com
Multiple closely watched refinance rates notched higher today. If you're shopping for a refi, see how your finances could be affected.
Refinance rates tick higher for Monday Bankrate.com
Multiple closely watched refinance rates moved higher today. If you're in the market for a home loan, see how your payments might be affected.
Refinance rates tick lower for Thursday Bankrate.com
Several closely watched refinance rates dropped today. See what that means for you if you're in the market for a mortgage.
Refinance mortgage rate ratchets higher for Thursday Bankrate.com
Refinance rates were mixed, but one key rate climbed. If you're shopping for a mortgage, see how your payments might be affected.
Refinance mortgage rates mixed for Friday Bankrate.com
Refinance rates were mixed today. If you haven't locked a refinance yet, see what that means for you.
Refinance rates hold steady for Friday Bankrate.com
Several benchmark refinance rates held steady today. See what that means for you if you're in the market for a mortgage.
Refinance rates tick higher for Tuesday Bankrate.com
Multiple benchmark refinance rates notched higher today. See what that means for your chances of scoring a killer refi rate.
With today's mortgage rates, you can still refinance for lower payments. Here's how | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
With today's mortgage rates, you can still refinance for lower payments. Here's how | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Many homeowners refinance for lower payments or interest rates. Here's what you need to know about your options and some pitfalls.
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Home Buying - What Can You Afford?
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What is a Self-Certification Mortgage?
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Consolidate Your Debt With a Home Equity Loan and Improve Your Credit Score
A home equity loan is a loan based on the difference between what your current home value is and what you currently owe on your house. There are also mortgage companies that will loan a little over the equity you have in your home.
Fixed Versus Adjustable Rate Mortgages
Which One Should You Choose?Choosing between a fixed rate loan and aa adjustable rate loan is one of the most perplexing choices anyone can make. With a fixed rate loan, you know exactly where you stand today, and where you'll stand any number of years from today.
Need Mortgage? Alternative Finance Often Masks Predators, Who Want to Steal Your House
So, your bank had just turned you down for a mortgage application. The same thing also happened, when you went to other banks in your area.
Mortgage Refinancing Companies -- Choosing The Right One
Searching for a mortgage refinance company can be a daunting task. In a moderately sized city, there could be at least several major refinancing companies and several smaller local refinancing institutions.
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).
Home Equity Loan Tax Deductions
Interest - is an amount you pay for the use of borrowed money.Several lenders are currenty offering amazing deals for 125% home equity loans.
Home Mortgage Loans For People With Bad Credit
Getting a home loan with bad credit has actually never been easier than it is today. Here are some tips to help improve your chances of success:Find A Good Real Estate Deal - If you can find a property that has some equity in it when you purchase it, you may have an easier time getting financing on that property.
Option ARM Mortgage Loan - Is This Really for You?
What happened to the days of a 15 or 30 year fixed rate mortgage loan? Ultimately this is the safest and most popular mortgage loan product in our industry, but new mortgage products are hitting the market, and we in the mortgage business are using them to our advantage; ever heard the radio advertisement saying, "buy a $200K home for $643.28 per month; call XYZ Mortgage Company to apply"? The product used in this ad is called an Option ARM, and I feel it's my duty as a mortgage professional to tell you what this product is in case you happen to meet up with that loan officer whose only concern is to make a fee, and not have your best interest in mind.
What is a Repayment Mortgage?
A repayment mortgage is the type of mortgage that most people think about. The idea behind a repayment mortgage is that you pay monthly for a set period and each payment consists of an element of capital and interest.
Repayment Remortgages is The Cure For Outdated Endowment Policy
If bulls and the bears of the stock market have no effect on your mortgage plan then you must apply for endowment to repayment remortgage. An endowment mortgage is a financial product offered mainly in the UK.
Buying a Home when Rates go Up
Many people fret the rising tide of interest rates. You'll hear things like, "Did I miss the boat? Is it too expensive now to buy a home? How can I afford the house of my dreams? Maybe I should wait! Maybe I should just rent for a while! Maybe the rates will go down in a few weeks.
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