Your Cutting-Edge student loan consolidation Resource

Below, you'll find extensive information on leading student loan consolidation articles and products to help you on your way to success.

Be Careful When Comparing Mortgage Rates – 10 Things You Probably Didn’t Think Of
By Sandra
Most people know it’s important to compare mortgage rates before theypurchase or refinance a home. Some may even know to compare fees,points and other costs associated with purchasing or refinancing theirhome but, there are some things you didn’t think about or just don’tknow. Here they are:

· You may not be able to get or even want the advertised rate. Thesuper low rate may be for a 2-week lock in period. Unless the lendercan guarantee you will close escrow in 2 weeks, you need to find outwhat rate you can get for a 30-45 day interest rate lock, or whateveryou feel comfortable with.

· You should try to avoid havingyour credit run until you’ve decided between 2-3 lenders. You canrequest a pre-approval from 3-4 mortgage companies, some of whom willget rates quotes from several lenders and give you the best 4, givingyou a total of 10-12 quotes. Note that these are only estimates if theyhaven’t run your credit. Be sure to read the terms for the pre-approvalestimate.

· Ask the lender if they will provide your creditscore when they do run your credit. You should have an idea of what itis, but it’s nice to know what the recent score is

as this will affectthe interest rate you get.

· Beware of the “no cost loan”. Itwill probably have fees included in the loan, increasing the interestrate and simply not cost you any out of pocket costs. Even paying a ¼of a percent higher is not worth it to save a few hundred dollars oreven a thousand. If you don’t have the money, try to get it somehow ifyou can.

· Ask for all the fees you will have to pay beforehaving lenders run your credit. Some may not want to give it to you.The good/honest ones with nothing to hide will, at least as much asthey can before running your credit. Some fees may depend on yourcredit score.

·Be sure you can prepay the loan or have a bi-monthly plan set up if you want to without additional charges.

· Find out how often they re-calculate the outstanding mortgageinterest. You want them to do it daily or at least monthly, butdefinitely not yearly. What if you want a bi-monthly mortgage later onor you get a large bonus and want to apply a little to the mortgage; ifthey don’t re-calculate often, you’ll pay the interest on the oldbalance and not the new one. This can add up if it’s for a whole year.

· When shopping online for mortgage rates, be sure you are on a securepage when sending your social security number over the Internet. Youshould see a small yellow lock in the lower left corner of your browserwindow and an “s” next to the “http” in the URL area of the browserwindow.

· Another tip when shopping online for mortgagerates, find out if they process everything online and send you an emailor if they have to call you with the quote. Try to get the former. Youdon’t really want a bunch of people calling you to try to talk you intoa loan. You do want the option to call them and ask them questionswithout having to wait.

· Sometimes you can get a smallpercentage point off if you have your mortgage automatically deductedfrom your checking account. This is a good thing, just be aware withwhom you are dealing with and what you are signing, read the fine print.

Buying or refinancing your home is important and will affect your lifefor a long time, so don’t take it lightly, be careful and be prepared,you’ll be glad you did.

Article Source: http://www.article-outlet.com/

Pic

Pic