How To Find The Lowest Rate Possible

Written by Tom Levine


The quest is on! You’re inrepparttar market for a new home loan, a refinance, or a consolidation and you absolutely insist on findingrepparttar 111818 lowest rate possible! So what better place to do your research, then here onrepparttar 111819 internet, late at night, with your coffee in hand, and your family fast to sleep!

We’d like to help you on your quest, so here are 3 free tips that we think will speed up your journey, and move you to success:

1.Benchmarks 2.Comparisons 3.Apples and Oranges

1.Benchmarks:

You have to start somewhere. Define “low”? Let’s not lick our index fingers, and poke them inrepparttar 111820 wind to see what directionrepparttar 111821 storm is heading. If you wantrepparttar 111822 lowest rate possible, you need to know whatrepparttar 111823 market is doing right now, where it’s been historically, and what it might be doing overrepparttar 111824 short term long-haul (say overrepparttar 111825 next 3 to 6 months.)

a)Fortunately for you, there are TONS of resources available onrepparttar 111826 internet to do easy market research. Our website provides a Rate-Watch, for example, updated throughoutrepparttar 111827 day, complete with graphs, charts, and specs on fixed rates, ARMS, Jumbo’s, and everything in between. But we aren’trepparttar 111828 only site out there that provides free resources. Just go to your favorite search engine, and you’ll find a gazillion sites that would love to give you free market information.

b)What I suggest you do is primarily focus onrepparttar 111829 30 year fixed rate, and find a graph demonstratingrepparttar 111830 TREND overrepparttar 111831 last 6 to 12 months. A picture is worth a thousand words. Also, check outrepparttar 111832 current fixed rate, and maybe even poke your eye atrepparttar 111833 APR for an adjustable rate mortgage, and perhaps check out two or three different resources online. Most of them should be extremely similar. This will encourage your confidence in your own growing knowledge about what’s going on out there.

c)What’srepparttar 111834 news got to say about it? Our site provides a free Financial News watch for mortgages, auto loans, and breaking business stories, updated throughoutrepparttar 111835 day. It’s no secret, of course, that news is abundant onrepparttar 111836 internet, and we aren’trepparttar 111837 only free resource to provide this information. Go wherever you desire, but read an article or two, even if it’s justrepparttar 111838 first few paragraphs. What’s going on withrepparttar 111839 rates? What arerepparttar 111840 Feds doing? Any pundits out there talking about how things look, and what may be happening with interest rates? I swear, if you spend 5 minutes doing this, you’ll be as informed asrepparttar 111841 best of them, in terms of having a gestalt view on rates. You will know, with a high level of certainty, what “low” means, inrepparttar 111842 current world of mortgages and loans.

So take 20 minutes, and derive some benchmarks for yourself. Then, and only then, will you be in a position to gauge whatrepparttar 111843 lowest possible rate truly is, and fully prepared to move forward with your important shopping trip.

2.Comparisons:

Every loan is different. Every lender is unique. Every borrower has his/her own, special, unique set of circumstances. In addition, there are thousands and thousands and thousands of lenders. The information is out there, but what you need is to focus on efficiency.

a)Sorepparttar 111844 best way to sift throughrepparttar 111845 deluge of thousands of lenders, with rates changing daily, and terms that may or may not be posted for all to see, is to use one ofrepparttar 111846 many online services that provide this technology to you (for free.)

b)I won’t go into naming my favorites, or listing recommendations, or pointing outrepparttar 111847 ones that arerepparttar 111848 oldest, orrepparttar 111849 newest, orrepparttar 111850 fastest. That’s notrepparttar 111851 point of this article, and I believe in your ability to make good choices. What I will say, is that I believe in these services.

c)By providing very simple, brief, and concise information on a short form application, you will almost instantly be provided with 3 to 4 loan offers that match your needs and circumstances, fromrepparttar 111852 thousands of lenders, rates, and offers that are collated and organized inrepparttar 111853 databases of these various loan search providers. I give that an A for efficiency, allowing you to spend your hard-earned time and resources on other more productive things.

The Advantages of Refinance

Written by Tony Forster


The Advantages of Refinance

Refinance

- If you have at one time or another bought a home, then you probably heard ofrepparttar term "refinance." But what is refinance, exactly?

Let's go down torepparttar 111817 basics. The term financing refers torepparttar 111818 act of providing a certain amount of money to an individual in order to buy a home, a car, a real estate property, et cetera. Loans and mortgages are actually types of financing. Now, when we say "refinance", therefore, it means that we are still providing a certain amount of money. The prefix "re-" actually points torepparttar 111819 idea that you will be basically taking a new mortgage or loan to replace an old one.

The Advantages of Refinance

Financial analysts will claim that refinance is a great option for buyers when interest rates are low. The reason for this is quite obvious. Refinance mortgages or loans allow you to take new loans for a relatively lower interest rate. Low interest rates mean low monthly repayments. And low monthly repayments mean bigger savings for you. Of course, this only works if, and only if,repparttar 111820 rates are low. Ifrepparttar 111821 rates are high, refinance is not advisable.

Another advantage of refinancing your mortgage loan is thatrepparttar 111822 move will allow you to change loan terms from a long one to something shorter. With a shorter loan term, you can pay off your loan amount much sooner, thus allowing you to save more on your overall interest payments.

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