Prevent Adjustable Rate Mortgages From Going Into Effect After Their Initial Fixed Term
How To Get The Best Mortgage Refinancing Rates
If a mortgage broker knows that a homeowner is only working with them they may present loans that benefit themselves the
most. This is the sad reality of many services in and outside of the mortgage industry. The most important piece
of advice we can offer is to obtain multiple quotes from different lenders.
When mortgage brokers know they are
competing with others they are far more likely to search for loan programs that offer the homeowner the best possible
deal. This is precisely what this site is setup for. The information you submit is sent out for a few quotes and the
lenders all know they are competing with others. Not only are they competing with others but they are
also paying for the opportunity to give quotes to homeowners. A lender that does not offer competitive rates will
not continue to purchase our mortgage leads because they will see no return on their investment due to that fact that that
he vast majority of homeowners that obtain quotes are intelligent enough to select the home loan refinancing program
that is best for them.
Obtaining multiple quotes is also important when purchasing a new home, applying for a home equity line of credit (HELOC)
or home equity loan loan (HEL), and seeking a debt consolidation loan. Interest rates and closing costs vary by lender on
all loans that are available to consumers. The more rate quotes a consumer has, the more informed a decission they can make.
In general, there is no reason to choose a loan program that has higher mortgage rates, interest rates, or closing costs (when
rates are identical). Paying a higher interest rate or more closing costs does not intitle a consumer to more services or
benefits. Almost all mortgage loans end up at Fanny Mae or Freddie Mac anyways.