Lowest Mortgage Interest Rates - Home Loan Help

Stop dreaming about the lowest mortgage interest rates. Here's some unusual home loan help from Kate Ford. Learn how to take action with my three insider secrets for refinancing a mortgage. In fact, in the following article I am going to show you how to turn your dreams into reality.

Because as I like to say, "It is your home and your mortgage. No one will care more about it than you."

Three Insider Refinance Secrets For Low Mortgage Payments

If you are like most people, when it comes to the mortgage approval process, you probably feel unfamiliar with the terminology and uncomfortable speaking with lenders. I can't blame you. There are no universities dedicated to refinancing a mortgage.

However there IS something you can do to take better control of your mortgage destiny.

Look! Here are three little known secrets to getting your lowest mortgage interest rates. These secrets may seem obvious at first but best kept secrets are often hidden in plain sight.

Home Mortgage Secret One

The first secret for refinancing a mortgage is knowing what you want before you begin.

Ask yourself why you want to refinance your home. Most likely you responded for the best mortgage deals, right?

Well listen. Everyone wants the lowest mortgage interest rates. That is a given. But it is the purpose of your refinance that a lender needs to know.

So focus on why you want to refinance. Help yourself and your lender by determining what you want before you get online or pick up the phone.

Ask yourself this simple question. If I were to tell someone in one sentence why I am refinancing a mortgage, what would it be? To buy a car? Remodel a kitchen? Reduce mortgage payments? Pay off an old home improvement loan? Eliminate a coborrower? Retire?

The better you pinpoint your primary purpose for refinancing a mortgage, the better results you are likely to see.

Home Mortgage Secret Two

Secret two is next. Whether you search for a mortgage company by phone or by internet, take a few moments to prepare. Lenders are going to question your income, job history, debts, credit, and the type of property you own.

You will feel more confident and less frustrated if you don't have to run around the house trying to locate pay stubs, bank statements and tax records. This will save time, energy, and especially money on your mortgage refinance.

Home Mortgage Secret Three

Secret Three is not so obvious but I can help. You may have to change the way you think though. Qualify your lender before your lender qualifies you.

What? Yes, you really did hear me. Before entering into the mortgage approval process, you want to qualify the bank. Why? It's important to determine if this is the right home loan lender for you.

Homeowners are accustomed to wishing for loan approval and crossing their fingers in hopes the lender will deem them worthy of a mortgage. It is time to realize as a homeowner that you need to qualify the lender as well.

You will discover how much easier refinancing a mortgage can be by simply following these three insider secrets to getting the lowest mortgage interest rates. First determine the purpose of your refinance, then take a few moments to gather paperwork and lastly make a conscious decision to qualify the lender.

If you enjoyed this article about how to get the lowest mortgage interest rates, you will like We Did Not Hire A Home Inspector - Our Big Mistake also.

Prime Real Estate Articles Tip No.34
Home Mortgage Application | Rates and Terms

When you apply for a home mortgage, you should be aware that interest rates are subject to change. National and world events can cause even the lowest mortgage interest rates to go both up without warning.

So ask for a written copy of the mortgage rate lock agreement upfront.

Have you considered the length of a mortgage? A 30 year fixed rate mortgage is most common. But some lenders offer 10, 15, 20, 25, and 40 year terms for fixed mortgage rates. If you are interested, ask which terms are available to you and how each could affect your monthly payment.

Besides fixed programs, many lending institutions offer adjustable mortgage rates.

Now there is no right or wrong when it comes to loan programs. But it is imperative to be informed. So, read your mortgage documents, question your loan representative and get third party assistance if needed.

Because when it comes to your monthly payment, it's your home and your mortgage, and you deserve the best!

Understanding Mortgage Applications

Take the guided tour with Kate's unique tips for filling out your home mortgage application...

Coborrower | Responsibility | Loan Type | Appraisal | Rates/Terms | Address/Units | Legal Description | Year Built | Purpose | Usage | Construction | Refinance | Title 1 | Title 2 | Fee Simple | Down Payment | Name | SS Number | Phone Number | DOB/Education | Address | Employment | Income | Housing Expense | Assets | Liabilities | Real Estate Schedule | Transaction Details | Declarations | Acknowledgement | Government Monitoring | Application Interview

View FNMA 1003

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