SHOPPING FOR A MORTGAGE

How To Get A Mortgage At The Best Rate You Can


So you want to buy a house! Congratulations on taking this major step in your life. Since you probably don't have a spare couple hundred thousand dollars lying around with which to buy your new home, you are going to have to get a Home Mortgage. This can be either a Fixed Rate Mortgage or an ARM or Adjustable Rate Mortgage, which is usually at a lower rate and therefore easier to qualify for.

Before you go house-hunting, we recommend that you "pre qualify" for a loan. This way you will know beforehand the price range you can afford, and you will avoid the disappointment of falling in love with a house, only to find that you cannot get a mortgage to cover the cost. And with a pre-qualified loan amount, you are pretty well assured of getting a loan to buy your house, because a lot of the steps of getting a mortgage will have already been done during the pre qualification process. Your realtor will know you are a serious buyer, and there should be no unpleasant surprises during the period before closing on the loan, at least not financially.


Major Mortgage Companies and What They Offer

Lending Tree: Online application form; lenders will compete for you; up to 4 real offers in minutes; customer support via phone, chat or email.
Paramount Equity: Services home mortgages as well as home equity loans and home refinancing. If you apply online, you will be contacted by an agent within 48 hours of submitting the application.
E-Loans: Apply online or through a toll free phone number. Does mortgages and refinancing.
Ameriquest: Apply online, handles mortgages as well as refinance and home improvement, and even debt consolidation loans. Also has links to helpful articles to prepare you for the application process.
ABN-AMRO Mortgage: New mortgages, refinancing, home equity. Supports online applications, also has toll free number and loan consultants ready to assist you.
GMAC Mortgage: Apply online or via a toll free number. Website also gives links to information on the types of loans available and their qualifications.

Your Loan: What Happens Next

Your loan amount and often your interest rate is based on your income, income to debt ratio, other assets, credit rating, employment, etc. Whether you apply online or have a "live" person assist you, be prepared to disclose your annual income, your other assets (cars, boats, stocks, for example), outstanding debts including alimony and child support, whether you've had any bankruptcy or other judgments against you, and so forth. Some applications will also ask about your down payment, where you are looking to buy, if you have already picked out a home, and other similar questions. The more completely you can answer these questions, the better they are able to serve you. Before closing on the loan, you will need to provide documentation to back up the figures you've given to pre qualify. Documentation includes bank statements, W2 Forms, pay stubs, tax returns, and anything else that proves what you are saying about your financial status. Your loan processor will tell you what he needs from you.

Once you have a dollar amount to work with, you can go house-hunting with the assurance that the house you finally choose should be yours in a relatively short period of time. With mortgage processing in the works or completed before you put an offer on your new home, you can be in your new home much sooner than you think.


Getting the first time home mortgage lone can be a zoo at times but the good news is that the competitive mortgage and loan market is welcoming the new home mortgage buyers very warmly. In the recent past mortgage business has developed very quickly. To be a successful mortgage business man you must know that generating leads is the excellent way to get your business really flying. Another success source in this business can be personal financing as it can be offered just by obtaining the brokerage of a financial institution or bank.

Resource Index

Audio-Video-and-Cameras:
Plasma TV, LCD TV, MP3 Players, TIVO, Satellite TV, Dgitial Cameras, Digital Camcorders, Bose iPod Speakers, Multimedia Projectors, GPS, Blu-ray Disc

Computer and Accessories:
Choosing a Laptop Computer, Computer Memory Upgrade, Copying a Hard Drive, Dual Monitors, Networking Computers, Microsoft Office, PDA's, Cheap Ink/Toner, Color Laser Printers, Multifunction Printers, Scanners, USB Flash Drives, Wireless Printers, Dell computers, Wireless Routers, Wireless G Routers, Wireless N Routers, Laptop Carrying Cases

Computer and Video Games:
Age of Empires III, Battlefield 2

Entertainment:
Online Gambling, Poker, Routlette, Blackjack, Craps and other Online Games, Online Casinos, Movies, Online DVD Rentals, Home Theater Systems , Home Theater Components, HDTV, HDTV Buying Tips, HD Radio, Portable DVD Players, Magazine Subscriptions

Fun-Hobbies:
Tropical Fish, Aquariums, Scrapbooking, Rubber Stamping, Geneology, Geocaching, Soap Making, Candle Making

Legal:
Criminal Defense Attorneys, Tax Attorneys, Lemon Law Protection, Structured Settlements, Investment Fraud, Bankruptcy Attorneys, Personal Injury Attorneys, Family Law

CellPhones-and-Communication
Cell Phones, Cell Phone Carriers, Prepaid Cell Phone Plans, Cell Phone Ringtones, Headsets, VOIP, Cheap Long Distance, iPhone, Blackberry, Bluetooth Technology, SmartPhones

Jobs-Schooling
Online College Degrees, Business Degrees, Home Schooling, Drivers Education, Job Resumes, Online Job Search
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Finance and Insurance:
Auto Insurance, Car Insurance Quotes, RV Insurance, General Insurance, Travel Insurance, Business Insurance, Basic Guide to Consolidating Student Loans, Cash Advance Loans, Federal Student Loan Consolidation, Debt Consolidation, Debt Management, Credit Card Debt Consolidation, Free Credit Reports, Home Mortgages, Home Equity Loans, Mortgage Refinancing, Mortgage Rates, Mortgage Companies, Second Mortgages, Mortgage Brokers, Health Insurance, Insurance Quotes, Term life Insurance, Mortgage note buyer, Renter's Insurance, Household Budgeting

Home:
Home improvement, Outdoor Lighting, Kitchen Remodeling, Kitchen Countertops, Espresso Makers, Food Processors, Coffee Makers, Coffee Grinders, Slow Cookers, Popcorn makers, Blenders, Cutting Boards, Refrigerators, Freezers, Washers & Dryers, Bathroom Remodeling, Kitchen & Bathroom Faucets, Bathtubs, House Windows, Closet Organizers, Window Treatments, Hardwood Floors, Carpeting, Home Security, Water Heaters, Water Filters, Carbon Monoxide Detectors, Bamboo Flooring, Portable Air Conditioners, Dehumidifiers, Siding, House Cleaning Services, Home Organization, Vacuum Cleaners, Cannister Vacuum Cleaners, Handcheld Vacuum Cleaners, Upright Vacuum Cleaners, Stick Vacuum Cleaners, Wet-Dry Vacuum Cleaners, Furnaces, Fireplace Inserts, Electric Space Heaters, Pellet Stoves, Wood Stoves, Heat Pumps, Buying a used car



Business-Office-Supplies:
Discount Office Supplies, Home Office, Office Furniture, Copiers, Home Business, Business Cards, Business Brochures, Mailing List Companies, Affiliates, Franchises, Business Telephone Systems, Employment Agencies, Call Centers, Fax Machines
Health and Wellness:
Fioricet for Migraine Relief, Online Pharmacies, Phentermine for dieting, Tramadol for Chronic Pain Relief, Mesothelioma, Mesothelioma Lawyers, Acne Treatment, Contact Lenses, Drug Rehabilitation, Cerebral Palsy, Hair Loss, Hair Loss Products, Human Growth Hormones , Diet Pills, Treadmills, Fragrances, Reducing Cholesterol, Diabetes, Obesity, Arthritis, High Blood Pressure, Heart Disease, Acid reflux, Cialis, Understanding Depression, Unraveling Diet Plans, Erectile dysfunction, Lipitor, Sleep Loss, Viagra, Autism, Asperger Syndrome, Living With Depression, Bipolar Disorder, Seasonal Affective Disorder

Gifts:
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Sports:
Health Clubs, Home Gyms, Treadmills, Golf, Golf Vacations, Golf Schools, Golf Clubs, Fantasy Baseball, Fantasy Basketball

Travel:
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Yard-and-Garden:
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