Mortgage & Refinancing Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Refinance Your Home Mortgage Online


The largest financial obligation most people ever take on couldn't escape the reach of the Internet. Home mortgage loans originated online comprise an integral part of one of the largest and most profitable aspects of the banking industry. Unlike many shifts in big business recently, this change actually seems to greatly benefit consumers by increasing competition and placing more financial control in the hands of homeowners.

To finance or refinance a home in the olden days (before the Internet), you needed to find a mortgage lender, broker, or banker who wanted to make a loan for you. Though mortgage lenders always wanted to make good loans, the process of gathering information to compare interest rates, points, and loan programs among lenders presented a tedious task for borrowers. Without a centralized information source for mortgage rates, loan programs and financial advice, most people just called a few banks and went with the lender that seemed to offer the lowest rate for the least discount points.

Now borrowers can access up-to-the-minute financial information and economic indicators online. Comparing rates and fees between lenders takes only the click of a mouse. Loan programs and mortgage calculators quickly figure the best strategy for everything from which loan represents the lowest cost over time to how much money a borrower could save by prepaying their mortgage on a monthly or bi-weekly basis. Financial tools available online truly empower any borrower with Internet access.

Though the Internet represents a faster and more hassle-free way to refinance your first or second mortgage, remember these important facts:

Loan Programs - Just because the Internet makes the loan process easier doesn't mean you should abandon common sense. Take the time to analyze which loan program best meets your needs based on the big picture of how long you'll live in the house, the payment you can handle comfortably, and how much cash or equity the lender requires.

Fees - All lenders don't charge equally. Many offer a lower interest rate, but make up the discount in fees and charges. Analyze costs between lenders by obtaining a list of all associated loan fees known as a "Good Faith Estimate".

Service - Obtaining a loan online won't do you a bit of good if you run into a problem and need to speak with a live human. Make sure your online lender maintains offline customer service.

Rate Lock-in - The lender's website should clearly explain their interest rate lock-in period and policy. Don't get lured in by a lender offering a lower rate and points only to find out the hard way that your interest rate lock expires before you can get the loan closed.

Loan Commitment - Find out from the lender's site what legally binding documentation they provide to document the loan commitment once you get loan approval.

Though many borrowers use the Internet purely for research, record numbers now go online to apply and complete the entire mortgage process on the Web, while saving significant money and time in the process.

Copyright 2005 Jim Edwards

Jim Edwards is a consultant specializing in internet mortgage refinance strategies and consumer home loan information. He is the author of "The TEN Dirty Little Secrets Of Mortgage Financing" at http://www.mortgageloantips.com/info.html and offers a free mortgage e-course at http://www.mortgageloantips.com/eclass.htm


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Marketplace.org

The home equity loan interest deduction is dead. What does it mean ...
Marketplace.org
Fewer people might take out home equity loans as a result.

and more »


CNBC

Mortgage refinance applications surge 9 percent as rates fall back
CNBC
Total mortgage applications rose 4.7 percent last week, driven by applications to refinance.

and more »


Bankrate.com

4 ways to get the best mortgage refinance rate
Bankrate.com
If you can shave at least one-half of 1 percentage point off your current mortgage rate, it can be worth your while to trade in your existing home loan for a new one. Here are some tips for getting the very best refinance rate. 1. Polish up your credit ...

and more »


Credit Union Times

West Is Best for Credit Union Growth
Credit Union Times
A tight labor market. Employers are having increasing difficulty finding workers, which will be a limiting factor for the economy. A sellers' housing market. The supply of homes in most markets are reaching historic lows and could tighten further as ...



Prospect Financial Group, Inc. Donates to Wells Fargo's Holiday ...
The Daily Telescope
San Diego, CA, December 29, 2017 -- Prospect Financial Group, Inc., a leader in the mortgage refinance industry, was happy to donate this holiday season to Wells Fargo's holiday Food Bank program.Wells Fargo is working with United Way Worldwide to help ...

and more »


TheStreet.com

Cruel Ways Big Banks Are Ripping Off Their Customers
TheStreet.com
Cruel Ways Big Banks Are Ripping Off Their Customers. Banks, especially bigger ones, often play the role of villain to frustrated customers. The thing is, those customers don't even know the half of it. ByBrian O'Connell. Jan 10, 2018 4:33 PM EST. Mike ...



Coronation Securities, Stanbic IBTC, Capital Asset lead OTC ...
Naija247news
Coronation Securities Limited, Stanbic IBTC Stockbrokers Limited and Capital Asset Limited led participating institutions at the NASD OTC Securities Exchange in 2017-the over-the-counter market for trading in securities of unlisted public limited ...

and more »


KQED

Labor, Housing, Immigration, and Gun Laws to Take Effect Jan. 1
KQED
Fee to fund affordable housing: California homeowners will pay a new $75 fee on each document of a real estate transaction, such as a mortgage refinance or the redemption of a foreclosed home. The total fee is capped at $225 and does not include home ...



Fidelity 1st Funding Offers Refinance for a Relatively Low Interest ...
Digital Journal
Digital Journal is a digital media news network with thousands of Digital Journalists in 200 countries around the world. Join us!

and more »


Jim Flynn: Disclosure, rescission used to help protect consumers
Colorado Springs Gazette
When legislative bodies (usually in election years) act to protect consumers from the perils of the marketplace, two of the tools they regularly use are disclosure and rescission. The idea behind disclosure is that, given enough information, people are ...


Google News

home | site map
© 2006 TIGER MEDIA