Mortgages Quotes and Home Loans

Welcome the the mortgage section of this web site. Please select the mortgage catagory you are interested in learning more about. The catagories are on the left menu bar.

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First Mortgage Loans

  1. Although your monthly payment may be higher, you can save tens of thousands of dollars in interest charges by shopping for the shortest-term mortgage you can afford. On a $100,000 fixed-rate loan at 7% annual percentage rate (APR), for example, you will pay over $75,000 less in interest on a 15-year mortgage than on a 30-year mortgage.
  2. You can save thousands of dollars in interest charges by shopping for the lowest-rate mortgage with the fewest points. On a 15-year $100,000 fixed-rate mortgage, just lowering the APR from 7% to 6.5% can save you more than $5,000 in interest charges, and paying two points instead of three would save you an additional $1,000.
  3. If your local newspaper does not periodically run mortgage rate surveys, call at least six lenders for information about their rates (APRs), points, and fees.
  4. You may also check www.bankrate.com for mortgage information in your area.
  5. Then ask an accountant to compute precisely how much each mortgage option will cost and its tax implications.
  6. Be aware that the interest rate on most adjustable rate mortgage loans (ARMs) can vary a great deal over the lifetime of the mortgage. An increase of several percentage points might raise payments by hundreds of dollars per month.

Did you know that on 30 year mortgages you will end up paying more than double the price of your house? It's true! If you have a 30 year fixed rate mortgage of $200,000 you will end up paying out roughly $250,000 in interest and a grand total of $450,000. By utilizing the free resources on our site we can help you save $1,000's, tens of $1,000's, or even $100,000! We have compiled over 100 pages of resources and materials to help you save the most money on Home Mortgages, Home Equity Loans, or Refinancing.   

Mortgages http://www.mortgagesaver101.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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