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Further
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It's EQ, Not IQ, That Will Make You More Money - Joe Bingham
The Promotion of your business is NOT about your business. It is NOT merely an announcement that your business exists. It is NOT simply about attracting new customers. And it is NOT your greatest source of generating profits. Promotion IS,...
A Home Based Business Modeled After Google - Gobala Krishnan
Probably the most exciting company to not only survive, but come out strong out of the dot-com crash of the late 90's is Google Inc. Having started out small as a company operated in the garage of a friend and employing a staff of three, Google's...
What Does It Take To Succeed Online? - Kay King
The one basic you need to succeed in an online business is simply the decision... to... do.... it. Not to "try"....not to "see how it goes".... Almost anyone can be successful online....yet the vast majority of those who start an online...
Business Axiom # 2 - Never Hibernate with the bears! - Frank Williams
There is story about a successful business. It was a family owned business and each year it grew and returned above average profits to its owner. This continued for over 25 years. The business became so successful that the employees prospered and...
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How to get the best mortgage rates in any economy
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Written By:
Syd Johnson
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Mortgage rates are intricately tied to the health of the overall economy as well as consumer demand for home loans. Two of the most important factors are the activities of the Federal Reserve Board and Fannie Mae.
The Federal Reserve board sets interest rates for the overall economy and this in turn affects the type of mortgage rates that are offered to consumers. Fannie Mae buys your loan on the secondary market and this frees up the cash from mortgage lenders so they can offer additional loans to more people. This also has a major impact on the type of mortgage rates that are offered to consumers.
Clean credit is the best
On an individual basis, nothing trumps good, clean credit. If you have excellent credit, or even good credit, you will find that the mortgage rates that are being offered to you will always be at the market rate or below the market rate. The mortgage rate is what you pay for borrowing money.
If a bank or credit union thinks that your financial history shows that you might have some trouble paying back the loan, then the rate will be very high. A solid payment history and a clean credit report is the best way to show them that you can handle this type of responsibility.
Comparison shop for loans and rates
Comparison shopping is - continued below ...
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continued ...
another way to get access to great mortgage rates. Today, you can compare your local bank, against a credit union, and against a national mortgage company.
Just go online, search for a few lenders and you can easily find all of the information you need to get a preliminary quote from them. There are also many sites out there where can enter your zip code and get a snapshot of the mortgage rates being offered in your area.
If first deal is not comfortable for your budget get a few more quotes
Real Estate is a very fluid industry, so don’t be tempted to accept the first deal that you see. Also, keep in mind that the mortgage rate is not the only factor that will affect how much money you pay out over the life of the loan. You should also pay attention the points, origination fees and other broker fees that will be due at closing.
You can also qualify for a much lower mortgage rate by increasing your down payment. Anything that shows that you are able to handle your debt and pay back the money in a reasonable time will have an effect on how much you pay for a home loan.
About the Author
This article may be freely distributed as long as there's an active link to http://www.rapidlingo.com
Syd Johnson
Editor
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Why does my business need a website? - Stephanie Foster
It almost seems to be a must now - the business website. From huge corporations to brand-new businesses, whether you are in sales or service, you've thought about getting a website. But what good does it really do your business? What if you are...
Starting A Business (2 - 3) - Michael Herman
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Halliburton Under Fire - Kirt Hill
The shareholders of Halliburton are trying to stop state-sponsored terrorism, using the same economic leverage that was effective against South African racism in the 1970's. Back then, shareholders used corporate resolutions to stop companies from...
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