By Benjamin Robert Ehinger
Benjamin Robert Ehinger is a researching expert and has spend a lot of time researching each and every article that he writes. He is able ...
Are you looking to purchase a home or refinance your existing home? If so, then you need to know how to find the best mortgage deals. There is a specific way to go about finding your mortgage deal and here is how you should do it.
First, start with an online credit report. Pull your own credit from all three reporting agencies and make sure they include a fico score. Even if this costs you a few dollars it will be worth it. This is what you are going to submit to all the mortgage companies you want a quote from.
Second, find three to four mortgage companies and one mortgage broker to get quotes from. The broker will be able to shop around with many different companies to see what is out there for you and the other companies will give you quotes from their best programs.
Last, you need to shop your quote. When you get the best deal you should send it over to the other companies and see what they can do for you. There is the possibility that they will match or beat the quote. Once you have done this you should choose the company you feel most comfortable with.
Now all you have to do is get to work on finding the best mortgage deals and get the mortgage you need and want. The key is to shop your quote with multiple companies and make sure you get the mortgage deal that you are most comfortable with and need.
Discover more about the Best Mortgage Deals. Get more information here:
Best Mortgage Deals, Go Here
Article Source: http://EzineArticles.com/?expert=Benjamin_Robert_Ehinger
Article Source: http://EzineArticles.com/1211526
Saturday 2 April 2011
95 Mortgages for Home Buying
95 Mortgages is another name for loans than require 5% down payment. Thus you are financing 95% of the purchase price. These loans are now the becoming the most sought after loans for buyers seeking a low down payment when purchasing a home.
If you have spoken to any lenders you may have heard the term LTV. LTV is the loan-to-value ratio. The value is referring to the purchase price of the home. 95 mortgages would have a 95% LTV. 95 mortgages are beneficial to first time buyers. These buyers normally have recently graduated from college and are just starting their first job. Thus they have limited savings and are looking for cheap home loans. The low down payment of 95 mortgages is a great option for these buyers to be able to get into their first home.
During the real estate boom of the early 2000s lending criteria was very loose. There were numerous lending companies offering zero down payment or 100% home loan programs. In fact there were loan programs that allowed buyers to receive money back to closing. Landlords often were losing prospective tenants since many people found it required more money upfront to rent an apartment than to purchase a home.
Now FHA financing will allow buyers to purchase home with less down payment than the 95 mortgages. Typically with FHA financing you will only need to put 3.5% percent down. If your credit is less than perfect than FHA financing would be the best chance to get approved for a loan.
For first time buyers with good credit but limited funds 95 mortgages are the best of the cheap home loans.
Jordan Martin is an expert on residential real estate and finance. She invites you to learn more at 95 Mortgages and Cheap Home Loans.
Article Source: http://EzineArticles.com/5715831
If you have spoken to any lenders you may have heard the term LTV. LTV is the loan-to-value ratio. The value is referring to the purchase price of the home. 95 mortgages would have a 95% LTV. 95 mortgages are beneficial to first time buyers. These buyers normally have recently graduated from college and are just starting their first job. Thus they have limited savings and are looking for cheap home loans. The low down payment of 95 mortgages is a great option for these buyers to be able to get into their first home.
During the real estate boom of the early 2000s lending criteria was very loose. There were numerous lending companies offering zero down payment or 100% home loan programs. In fact there were loan programs that allowed buyers to receive money back to closing. Landlords often were losing prospective tenants since many people found it required more money upfront to rent an apartment than to purchase a home.
Now FHA financing will allow buyers to purchase home with less down payment than the 95 mortgages. Typically with FHA financing you will only need to put 3.5% percent down. If your credit is less than perfect than FHA financing would be the best chance to get approved for a loan.
For first time buyers with good credit but limited funds 95 mortgages are the best of the cheap home loans.
Jordan Martin is an expert on residential real estate and finance. She invites you to learn more at 95 Mortgages and Cheap Home Loans.
Article Source: http://EzineArticles.com/5715831
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