Interest only mortgage loans have become a practical tool in more instances than originally thought. Especially with the new brand of Fannie Mae Interest First products coming into play. In this article we will examine the good, bad and ugly facts about interest only mortgages, and let you decide. (more…)
When getting quotes from competing lenders it’s always hard to know who’s telling the truth and who is giving the real interest rate when they quote you. To be completely sure you really do need to ask several lenders to quote you to be sure you are getting the best deal. The first thing to understand when comparing fixed mortgage rates is that interest rates never change and are always constant. (more…)
When attempting to negotiate with a lender or mortgage company in order to get your best mortgage interest rate it’s imperative that you begin with the par rate.
The par rate is the break even amount that the bank buys their money for. Most people do not realize the fact that rates do not change, the price that lenders pay for the rates is what changes. These price changes dictate the rates that you pay in the retail market.
Have you ever wondered how to compare mortgages from lender to lender? What a pain! Factor in a salesperson with the “car sales” mentality and you can go crazy trying to decide which deal is really the best. Having worked in the mortgage business for quite some time I thought I would share with you the easiest way to figure out who is really offering the best deal. This method is good for 90% of the people in the home market today.