Once pre-approved, what is the best way to shop for a better mortgage rate?
94422
Get on the phone and get good faith estimates. It will take a while to give them all the info but may be well worth it. Get at least 5 if you really want to be sure you have a good deal. You might also try a mortgage broker, they can take your info and hook you up with the best lender they have access to for your particulars.\n\nThe problem with strictly trying for a lower rate is that someone can give you higher fees and a lower rate no problem. \n\nIf you are not financially savvy and just love crunching numbers into the wee hours of the morning with your spreadsheet program then just compare the APR of each offer. This is actual percentage rate which takes the fees into account. \n\nThe same lender can give you multiple options if you have a particular need such as fewer up front costs. They can raise the rate to lower the fees in the for of points. Then you can compare apples to apples between lenders and see who really has the best offer.
602682
First find yourself a realtor that you like.  Use their knowledge and connections and save yourself some headaches.  Second, do your research on mortgages.  Don't just go to your local bank or a person you know, check around for the best rates and terms.  Finally, when you're ready to buy, find a home inspector with many years of experience.  They can help you with the maintenance piece so you can budget for items you'll need to replace in the future.
507226
im not familiar with get a home loan net- make sure they are a responsible lender-sanctioned by your state dept of banking and ins. or something like that--now-to answer your ?--4% fixed for a 15 yr loan is excellent-- make sure there are no loan origination fees, or hidden fees- a 1% origination fee could be common, yet that is 1,000 on a 100K loan--you are 25 now-your home would be free and clear by age 40--very good idea- only if you plan on marriage and a large family with lots of other obligations would a 30 yr mtg have some appeal as the payments would be lower, yet the rate would be higher- the 4% rate is because it is a 15 yr loan !! take the deal and run as long as the company issuing the mortgage is reputable !! i am a retired CPA & CFP ( certified financial planner)
6959
Go Online or contact Countrywide mortgage that are one of the biggest and have hundreds of programs avilable. Congratulations on such a high score.
906325
Yes - Thats about what mine was when I bought my house.\n\nLook into first time homeowner or similar programs through your state, that will help you get a better interest rate with an average credit score.
363028
I would have to say mortgage brokers. Mortgage brokers have a choice in many mortgage companies and a lot of them offer special deals for loans due to the competition whereas banks usually offer just a few types of loans.\n\nOne of the biggest mistakes that homeowners make is not researching and checking around before deciding on a loan. I would go to several banks and mortgage brokers and tell them what I need, then compare the loans offered. (Be sure to get a copy of the credit report if a bank pulls one. Multiple inquiries into your credit can make your credit lower.)\n\nBefore you go to a bank or mortgage broker though, research types of loans and the current interest rate for that day. Interest rates change alot and its important info to know. Do you want a 30 yr fixed or 15 fixed? This can also effect the interest rate you get. Since you have a good credit score, you should be able to get a pretty good interest rate. Also ask about special programs or promotions. Some mortgage companies offer special promotions such as lower closing costs and etc.. Don't forget to ask the fees that banks and mortgage brokers tack onto your loan. Paper fees and etc can be waived if you make a big fuss over it.
19117
Try this one\nhttp://www.hfamerica.com/?ovchn=GGL&ovcpn=11.26&ovcrn=mortgage+rate&ovtac=PPC
953478
work with a realtor and they will find you the deal...but first, get pre=approved for a loan so you will know how much you can afford.  remember that 28% of your salary is all you can get financed for (in most cases)  chekc out american dream, they make down payment loans to 1stt time buyers
332595
If you go with your existing Mortgage Company, they know you and know you are not shopping, so the price will be higher.  You may have the right circumstances to buy a special type of mortgage, to save you money monthly (WHICH IS MOST IMPORTANT), so you should have a knowledgeable Broker and a bank that specializes in that type. Or your situation has changed or is better, so you want to study the market and shop.\nDo not worry a lot about one time payments like settlement or closing costs, or other costs as they are only one time payments and you do not pay these monthly.  I am not saying ignor other costs, DO NOT ACCEPT GARBAGE COSTS, but if you have a good broker, pay for his work.  If you save any percentage on the rate, it translates to monthly savings for the mortgage term, usually 15 or 30 years.\nThere is always a bank who will want your business to increase theirs and will give you a slightly better rate or conditions, than the others.  The TRICK is you have to find that Bank.  So you go to a good, straight mortgage broker to shop the market for you and see what happens.  If you feel the broker is not doing a good job, get another who WILL shop for you.\nThere are some companies, and not just the brokers, I would not touch with your pole.  They lie about the way they do business, so they can lie about anything.  Check Newspaper stories over the NET in the area of your house back for 2 years, when you have a short list of banks, so you make no mistakes.\nYou are right, rates are fixed by banks and some banks fix higher requirements than others.  It is complicated and that is why Banks have Actuaries.  But your credit score will help determine your rate (which if you think about it is sensible), the higher your score the lower the risk a bank faces in loaning you money.   There is always someone who wants to do business and it does not cost you anything more than time, so look around.   And there are companies who specialize in cleaning up your credit so your score is at it's highest.  One such company I would recommend, who as far as I know is the cheapest of them all, is Ideal Credit Score at 718-502-8800.
1001529
There are many lenders that offer this. I can have an approval in 2 days. What state are you in? \nhttp://www.lendermark.com
572081
Get a mortgage BROKER (this person will help you decide, based on income,etc, what type of mortgage you should consider and then, on your behalf, go out and look for a good mortgage to suit your needs.) As a first time home buyer it can be daunting to talk to different bankers/lenders - best you go to a broker - it won't cost you more...and you will get lots of help.\n\nAlso, go to the www.HUD.gov website. They have lots of information for buyers/sellers.  Realty Companies have this info but they give it their slant because they want your business, but I would go to this HUD site first and check out, at a minimum: glossary of terms used in real estate; Common Questions/Answers for FIRST-TIME homebuyers, 9 steps to buying a home; consumer information.  If they don't have it, check or google: Home Inspection(s).  The site also has info on mortgages.\n\nSome sites even have mortgage calculator - it will help you determine how much home you can afford. For example: homegain.com or similar.\n\nInterest rates are going up right now and they do not believe that it will go down anytime soon. Sales of homes are down - even in Florida especially as 1 June (hurricane season) approaches.  \n\nSuggest you check out these websites - check out a book from the library on buying a new home - questions to ask - what to be careful of.  Govt or National Assoc sites are beter to consult as they are not supporting one company over another.\n\nALSO, as it is your first homem, strongly recommend you pre-qualify before you start looking - this will tell you how much house you can truly afford.  Remember, when buying a home that it isn't just the monthly house/mortgage payment you will have to afford, but the utilities, problems that come up (that when you are renting the rental company might normally fix), taxes, insurance,etc.  So give yourself some room\n\nConsider looking at foreclosures. When making the offer asking that the seller cover closing costs or help in thema seller is motivated to sell they might accept or split the difference)  A  motivated seller is one that has had the home on the mkt a while.  Don't forget contingencies: contingent on an inspection (which you will pay and select inspector --- make sure it is a 10-point inspection - it will cost you a couple hundred dollars, but it will be worth every penny).  What will convey - if the appliances won't convey, you will have to take that into account for expenses.  If you are planning on living thre a while - school district? taxes? etc.....\n\nRealtor: make sure you get a BUYER AGENT (i.e. the agent will represent YOU and only you).\n\nGood luck and happy hunting.....and remember the realty mantra: Location,location,location
770122
The time is now! I started on October 4th hopping by December 4th When my lease is up i was already out. Well Today is November 20th and I still haven't found my home, the good thing is my loan is already approved, the only thing missing is the house and the long wait between negotiations  and appressal. \n\nMy advise is, get pre-approved or approved FIRST, then start house hunting. The most important thing is to get approved for the best loan before the hunt, which is the easiest part. \n\nMy third application took 30-minutes over the phone with my bank and within 4-business days I was sort of pre-approved.  My original loan amount was for $300,000 which got decline by the underwritter, so I had to talk to him and settle for a $260,000 loan., But a week later, it was finally approved.   \n\n\nSince my original loan amount was decline, I had to look for homes withing that price range in another part of the state. Where I currently live, Homes start at $300,000 and they tend to be small, and needing a lot of work.\n\nMy bank  was my third and last lender, after trying with Credit Suisse which gave me 100% financing at 5.375% then change the terms to 7. 850% for 3-years fixed and 27-years variable without notifying me. \n\nThe second attend was with Quicken Loans, which was a complete waste of time. BTW, if you valued your sanity, AVOID Quicken Loans!\n\nA fixed interest mortgage is the best to go, you don't want to go for one of those "Interest Only" you hear so much about. Thouse will lead you to a foreclosure within 3-year.\n\nFor a 100% financing loan your mortage payments will start the first day of the month 2-months later, mine is set for February 1st. 2007. The monthly payments will  include Principal, Interest, Taxes and Insurance.
50565
A good mortgage rate if you're going for a 30 Year fixed is pretty close to 6%.  The prime rate at this time is 5.875% and that's only for the VERY best credit possible.  Any rate that's between 6% and 6.25%, I would be very happy with (only applies as long as your credit score is above 660).
699754
Home Inspection by an independent inspector (not one associated with the real estate agents involved).\n\nGet pre-approval for your loan.  Only buy a house that will amount to payments of no more than 33% (less if possible) of your monthly income (Don't get an interest-only loan).\n\nTake a look around awhile before buying.  Don't jump on the first house.  Think about it a couple of days.  Make an offer that you feel comfortable with.  Don't go over your head.\n\nExpect to have to purchase all the little things that you don't need when you rent, if it's your first house (Lawn mower, trimmer, water hose, landscape plants, curtains, basic household tools, etc.)
653639
Your best bet is to talk to a local mortgage broker.  I've broken down the 4 things that mortgage companies look at when making a decision on your application as: \n\nincome\nassets\ncredit\nproperty\n\nI tell my clients that its like a chair with 4 legs.  You need all to be a decent length for it to work.  If one is short but three are long, you're still good.  \n\nI plan on going into detail on these at my blog pretty soon.\n\nFor income, you want 2 years job history in a similar line of work.  Ideally the banks like to see one job.  If you increased in income on your job changes, that's a good thing to the bank.\n\nWhether you're a single parent, a married spouse, or a polygamist, banks are all looking at one thing: your debt-to-income ratio.  If you can afford the house comfortably along with all your other bills, you should be ok.\n\nYou'll want to put assets away in a bank account if you can.  This is not always an option for some people, just do the best you can.  Having a 401k or IRA will also help to get you an approval.\n\nYour loan officer will pull your credit and determine exactly what you need to do to get qualified for a mortgage if you're not already.  Paying credit balances down to half of their credit limit will increase your score as well as paying off very recent charge-offs and collections.\n\nLenders love Single Family Homes.  If your credit isn't great try not to fall in love with a trailer or modular.  Having a desirable property helps your approval.\n\nIf you can balance these four things you should be fine.  Read my blog to learn more about what mortgage brokers do and how to set yourself up for an approval: http://explaintome.blogspot.com\n\nSoon I'll be covering this topic.  Drop me an email or comment in the blog and I'll let you know when it gets updated.
1165632
Contact a mortgage broker in your area first.  They'll set you up with a loan and preapproval.  Then you'll know what you can afford and then hook up with a realtor.  Don't go to the realtor first.  That's putting the cart before the horse.  If you're in California, I'd be glad to help you.  E-mail me at tom4loans@sbcglobal.net
148202
1- You are looking at a rate of 6.25% in IL. I ran it through Provident Funding as a 30yr fixed, full doc, 80% LTV/CLTV, second home, $288,000 loan amount, with a 21 day lock period. This assumes all the information you supplied is accurate, and that your DTI (debt to income) does not go above 50%.\n\nThat is a rate that the mortgage company would be ok with selling you. If you are being quoted higher than that, then feel free to talk to me and I will let you know if you are getting a fair deal or not.\n\n2- Your Mortgage company can usually get you at least as good of rates as your local bank, unles you typically carry a very high ballance with them. You would be surprised ... you Mortgage Company is propbably signed up with your bank to do loan through their wholesale side, as opposed to your retail rates they would offer you direct.\n\n3- When a good time to go through with it is completely up to you. If you are in a situation where you can offord it, and are comfortable with it, then do it now. No one can make that decision but you.