Welcome to Mortgage Guide
Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Low Mortgage Rate
from:The quest for a low mortgage rate is one that can pay off in the long run. Many potential homebuyers opt for the first offer that they come across when looking for a new home loan. However, in order to secure a really good rate, it helps to shop around.
First Time Buyers
First time homebuyers should look into special programs for people making their first property purchase. These programs are commonly organized by the state, city or county governments. Consumers making their very first real estate purchase can get a much better deal if they do a little homework.
The special government programs designed for first time buyers serve a number of different purposes. Some can offer a low mortgage rate and better terms. Some are perfect for people with less-than-perfect credit. Prospective new homeowners can also take advantage of no money down or relatively small down payments.
First time buyers have many options to consider. Taking advantage of special programs that suit their needs is a very good step in getting the best terms and low mortgage rate on their home loans. Each state and locality may have different programs for consumers to consider. Each one is well worth exploring.
Shop Around
It does not matter if you are planning to purchase your very first home or if you are taking out a second mortgage. It is always a good idea to shop around for the best interest rates and terms before making a commitment. One lender may have a very different package from another. Taking some time to fully explore your options is a sound approach.
Not every lending institution has your best interest in mind. Some may try to sell a loan that is designed for people with bad credit in order to make more of a profit. This is a pretty rare occasion. However, fledgling homebuyers can easily sign up for sub-prime loans when they have perfectly good credit.
Consumers can empower themselves with knowledge. The first step to getting a low mortgage rate is to become very familiar with the current prevailing interest rates and fees. Your potential lender will know that he is working with a savvy buyer if you make your knowledge of the prevailing rates and fees known.
Shopping around for different offers is a great way to ensure that you are getting the best deal. However, it is important to note that you should not sign an agreement just because the lender is offering a low mortgage rate. There are other factors to consider as well.
Mortgage Specific links
Mortgage News
TARP Oversight Panel Finds Fault With GMAC Bailouts - New York Times
 Washington Post | TARP Oversight Panel Finds Fault With GMAC Bailouts New York Times Indeed, in a conference call in January, Michael A. Carpenter, GMAC's chief executive, called the mortgage unit “a millstone around the company's neck. ... Watchdog: GMAC bailout could cost taxpayers $6.3B Where Is GMAC Exit Strategy? GMAC Executive Pay Packages Questioned by TARP Oversight Panel |
U.S. mortgage applications rise - Investor's Business Daily
 The Guardian | U.S. mortgage applications rise Investor's Business Daily A measure of demand for home loans edged up 0.5% in the week ended March 5, the Mortgage Bankers Association said. Refinancing activity fell 1.5%, ... US MBA Mortgage Applications Index Rose 0.5% Last Week Mortgage Rates Rise Ahead of Treasury Auction. Fail to Recover Afterward Recent Uptick in Mortgage Applications |
Mortgage Modifications Create Cash for Agency MBS Reinvestments - Housing Wire
 New York Times | Mortgage Modifications Create Cash for Agency MBS Reinvestments Housing Wire The system, as it stands, creates a cyclical cash flow from pay-downs when the loans are bought out of mortgage-backed security (MBS) trusts to bondholders ... Politics, shaky economy create no rush to restructure Fannie and Freddie TCW Returns to Mortgage Bonds It Sold After Declines Obama Wants to Tax Good Banks, Protect Bad Ones |
Short sales become foreclosure alternative | Philadelphia Inquirer | 03/10/2010 - Philadelphia Inquirer
 Credit.com News | Short sales become foreclosure alternative | Philadelphia Inquirer | 03/10/2010 Philadelphia Inquirer The short sale, a transaction in which the lender accepts less than the balance owed on the mortgage. Beginning April 5, under new ... Mortgage Refinance Market: Predicting Its Death Obama Refinance Plan – Debt Relief Help with Your Mortgage Home Loan Second Mortgage Trouble—Should Wells Fargo Homeowners Look To Short Sell? |
Former Quicken spokesman starts own mortgage company - Oakland Press
 CNBC | Former Quicken spokesman starts own mortgage company Oakland Press David Hall, who for years served as the on-air spokesman for Rock Financial, is launching his own mortgage company in Birmingham. ... Former Rock pitchman launches mortgage company of his own Mortgage Veteran Re-Enters Market With New Firm Home Loan Demand Nudges Higher in Latest Week |