Mortgage Loan Information and Interest Rates

What is the mortgage process?

This page will serve as a summary for the whole mortgage process from beginning to end. Once you are familiar with the entire process you can return to the full mortgage section for more information. Please post any questions you may have here.

Pre-Qualification

Pre-qualification starts the loan process. Once a lender has gathered information about a borrower's income and debts, a determination can be made as to how much the borrower can pay for a house. Since different loan programs can cause different valuations a borrower should get pre-qualified for each loan type the borrower may qualify for.

In attempting to approve homebuyers for the type and amount of mortgage they want, mortgage companies look at two key factors. First, the borrower's ability to repay the loan and, second, the borrower's willingness to repay the loan.Ability to repay the mortgage is verified by your current employment and total income. Generally speaking, mortgage companies prefer for you to have been employed at the same place for at least two years, or at least be in the same line of work for a few years.

Mortgage Articles and Tips

  Mortgage Relief for Mortgage Companies, Here we go again
Here we go again. Open up your wallets and say Ahhhh. The government is taking your money and channeling it to the same corrupt politicians and inept mortgage companies. There is a better way, but who's listing ..

Unnecessary Closing Costs – Mortgage Tips to Save Money
Most Americans are charged unnecessary closing costs every day when they close their mortgage. Following these couple of tips will save you time and money on your next mortgage. ..

Compare Mortgages in Three Easy Steps
How to Compare Mortgages in Three Easy Steps. Lendfast.com offers a variety of lending related products and services. Unbiased mortgage lending tutorials and forums. ..

Owner Occupied vs. Non Owner Occupied Properties
Occupancy type is pretty straight forward. Conventional mortgages are designed to help everyone buy a home, specifically a primary residence (owner occupied) . When you use conventional financing to buy an investment property (non owner occupied) you are charged more by way of a higher interest rate or fees. Many people will buy homes as a [...] ..

Three Steps to Getting the Best Mortgage Deals with “Bad credit”
Today’s mortgage market is different than anyone has ever seen in the history of mortgages. Getting your best mortgage deal may require a little homework on your part, but they are out there. Many of the mortgage programs that used to be available to home owners and future home owners are simply gone. However in the [...] ..