Online Mortgage Loan Companies Are ConvenientWritten by Carrie Reeder
There are many reasons to use internet to take care of your mortgage loan needs. Online mortgage companies can give you quick answers to your mortgage application and can often times give you an answer of whether or not you have been pre-approved within 24-48 hours after you submit your mortgage application. Online mortgage companies usually do not pull your credit on initial application which makes it possible to apply to multiple lenders and get an idea of what they can do for you, without dropping your credit score. There are many online mortgage lenders who will take your application and submit it to hundreds of lenders and then provide you with 4 best offers. This is a great way to get lowest rates and terms you can possibly get, without having to do all of that calling around yourself. Often, lenders that send you offers will call you to see if loan offer you received is what you are looking for. That is a good time to ask any questions you might have about possibly getting better terms or lower rates. Ask lender what their time frame is for loan process. Find out what other types of mortgage loans you might qualify for.
Home Loans – Would You Buy a Home Without an Inspection?Written by Charles Essmeier
The housing market has exploded, with home prices rising beyond all reason in some markets. Home prices have doubled or tripled during last five years, and in some cities, asking prices for homes are considered only to be suggested opening bids. Homes often sell in a few days or even hours, and would-be buyers are tiring of losing out to higher bidders. In order to achieve an advantage over other bidders, some people are offering to buy homes without a professional inspection. What do they gain from such an offer? Is declining an inspection an OK thing for a buyer to do?
Traditionally, a professional home inspection is a valued component of home buying process. While inspections are rarely required by law, most buyers would prefer to have any home they might purchase inspected before committing to purchase. The inspectors look for problems with foundations, plumbing, wiring, and termite infestation. In addition, they often check to make sure home meets building, zoning, and easement codes. The fee of several hundred dollars, paid by buyer, can turn out to be a bargain if inspection determines that home needs thousands of dollars in repairs. At that point, buyer can walk away from home or negotiate a financial compromise with seller in hopes of having problem repaired prior to sale.