Welcome to Mortgage Guide
Real Estate Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Scoring a Low Mortgage Rate
from:Today’s mortgage rates are at historically low levels. So, scoring a low mortgage rate when compared to other decades in recent history is not hard. The trouble comes in when you are trying to get the average low mortgage rate and your credit or finances keep lenders from offering you the going rate. Or, it could be that despite the going rate, you want something even lower. These are all reasonable scenarios and there are ways to work towards the mortgage rate that you envision.
Prepare Before You Apply
If you know that your credit is shaky, don’t bother to apply for a mortgage loan without first checking into your credit score. You can get your credit reports for free; however, you will have to pay to see your credit scores. You can use some of that payment to procure the services of a credit counseling agency that can recommend some strategies to help you fix your credit in preparation for applying for a home loan. Just be sure to check out the reputation of the counseling agency, as there are some agencies that are fraudulent.
There are also community services offered by state and local governmental agencies that can teach you how to start shaping up your finances to qualify for a good rate. They may have programs where you can even buy a house for less than 20% down payment and even some way to subsidize the mortgage rate, if you qualify based on income levels or special conditions. Check the website of the department of Housing and Urban Development (HUD) to see about the many different programs from FHA to VA and more.
Pay Down With Points
If you want a mortgage rate that is even lower than the one offered (and it’s pretty good as it is), you can still ask if you pay points to lower the rate. Points are 1% of the total value of the loan and paying more points can lower your rate on the life of the loan. Of course, this increases the money you need up front, but if you are shopping for a low mortgage rate, then this is a definite strategy.
Look at Unconventional Loans
This is where people in the housing bust got in trouble, but adjustable rate mortgages are still out there. Currently, the low mortgage rate offered by an adjustable rate mortgage (ARM) for a period of time is what influences people to get these types of mortgages. However, they do adjust and then the sticker shock can be substantial. So, when trying to get a low mortgage rate, make sure you understand whether it is for the life of the loan or a temporary period.
Real Estate Mortgage Specific links
Real Estate Mortgage News
Real Estate and Mortgage Market Update for Wednesday 05-23-2012 - Examiner.com
 Globe and Mail | Real Estate and Mortgage Market Update for Wednesday 05-23-2012 Examiner.com The bond market is currently up 15/32, which should improve this morning's mortgage ratesby approximately .125 – .250 of a discount point. The Commerce Department reported late this morning that sales of newly constructed homes rose 3.3% last month, ... CREDIT MARKETS: Possible Greece Euro Zone Exit Captivates Markets |
REAL ESTATE: Texas firm targets homeowners with foreclosed 2nd mortgages - Press-Enterprise
 Press-Enterprise | REAL ESTATE: Texas firm targets homeowners with foreclosed 2nd mortgages Press-Enterprise Heritage Pacific was started by identical twin brothers, Chris and Ben Ganter, who once starred in a reality TV show, “PayDirt,” about investing in the Dallas-Fort Worth real estate market. The company's lawsuits often accuse defendants of misstating ... Firm Targets Calif. Homeowners With Foreclosed 2nd Mortgages Calif. homeowners w/ foreclosed 2nd mortgages targeted Firm targets CA homeowners with foreclosed 2nd mortgages |
No real estate bubble pop expected in Canada - MarketWatch
 DigitalJournal.com | No real estate bubble pop expected in Canada MarketWatch A variable-rate mortgage at Canada's big banks is currently prime plus 0.2 percentage points, or roughly 3.2%. That looks like a green light to many would-be homeowners or current ones thinking about trading up. Canadian real-estate analysts don't ... Tighter mortgage rules not enough in hottest real estate markets, OECD says Fitch Ratings: Mortgage-Fueled Debt Raises Canadian Lenders' Risks |
Mortgage firm opens Flagler office - Daytona Beach News-Journal
Mortgage firm opens Flagler office Daytona Beach News-Journal By Elizabeth Turick, Special to The News-Journal PALM COAST -- The opening of Waterstone Mortgage Company here could be an indication of improvements in the Palm Coast/Flagler real estate market. Wisconsin-based Waterstone Mortgage is a national ... |
Commercial Real Estate Brokers: Now Is Best Time to Start Your Career - MarketWatch (press release)
Commercial Real Estate Brokers: Now Is Best Time to Start Your Career MarketWatch (press release) NEW YORK, May 22, 2012 /PRNewswire via COMTEX/ -- Now is the best time for new commercial mortgage brokers to begin their careers, says Commercial Mortgage Broker Training Expert Adam Petriella, Managing Partner of The Real Estate Finance Group, ... |