You’ve found your dream home and it’s now time to get a mortgage and make it yours. Like many buyers you may feel a little lost as to how to go about it or not know much about the mortgage process. The more informed about the mortgage process you are the more confident and ready you will feel to take on a mortgage.
1. Shop For Mortgages– Don’t settle with just one offer. A little change in an interest rate can make a big impact on your payment and overall cost. Using Funded.com’s mortgage calculator you can not only see what your estimated payments would be but you can also submit this information to obtain mortgage quotes from multiple lenders.
2. Starting The Mortgage Process – You’ve found a mortgage quote that fits your budget and has a good interest rate, what happens next? Your lender will help walk you through the process but what you can expect to start out with is a loan application that will require you to fill out more detailed information about employment, income, and monthly expenses to help them gauge if this mortgage is right for you.
3. Knowing Your Credit – Your credit score will make a huge impact on what kind of interest rate you are able to obtain or if you can get a home mortgage at all. Do you fall in the poor or needs improvement category? Funded.com offers an EZ Step Credit Repair Program to get you on track to A+ credit!
Rates Are UNDER 5.00% FUNDED.COM now has lenders offering historic 27 year low interest rates on 30 year fixed.
17 December 2008
Another rate cut. Mortgage rate hovering around 5% Fed cuts rate window to 0.5%.
12 December 2008
FHFA Director Talks Rate Plan, GSE Debt, FHLBs The Treasury Department is still working on a plan to use Fannie Mae and Freddie Mac to lower mortgage rates to 4.5%, but their regulator says rates may soon drop to that level .
