The Easiest Way to Get A Mortgage In The World, Yet More than 95% of People Who Tried it SUCCEEDS, Why?
Thinking about getting a mortgage naturally prompts tons of questions. Don’t feel bad if it seems like there is a lot you don’t know.
Let’s get something straight, right out of the gate: Becoming a Homeowner is for EVERYONE.
WHAT IS A MORTGAGE?
A mortgage, or mortgage loan, is a legal agreement where a lender offers money to a borrower to purchase real estate in exchange for interest.
Are you looking for the best deal possible for your home loan? If so, you should getmultiple offersfrom several lenders in a matter ofminutes.Why minutes?Mortgage interest rates change constantly because they are affected by the prices of bonds and mortgage-backed securities (MBS), which are bought and sold like stocks.
When comparing mortgage programs, you should get the same information from each lender.
Duration of interest rate (Does it adjust? When? By how much?)
Loan term (15-year, 30-year, etc.)
Lender fees and 3rd party charges
Features like interest-only payments or prepayment penalties
Mortgage insurance or funding fees.
Buying a home is one of theBIGGESTpurchase decisions you’ll ever make. But getting a mortgage loan doesn’t have to be difficult. Whether this is your first time applying for a home loan, or you’re buying a vacation home or investment property, you want to be prepared.
WHAT DO I NEED TO KNOW ABOUT HOME FINANCING?
How much can I really afford?
The importance of your credit score
Can I get a better interest rate?
Is an FHA loan right for me?
How do I qualify for a loan?
Everyone is different.But it’s easy to find out what your personal home loan and mortgage rate parameters are. Lenders focus on these5 things:
Down payment amount
How do I shop for a home loan?
Here’s how: if you take a look around the internet you’d notice that more than 63% of home buyers are applying for a home loan online.
Due to current mortgage rates constantly changing, the first home loan you’re offered may not be the best one. That’s why it really pays to shop around.