Getting The Best Rates On Mortgages And Loans

With an impending up-grade to the family due in a few months it soon became clear that our two-bedroom home would need an addition. We loved our house too much to consider moving. Not having the large sum of cash necessary to build it, however, we began a process that became a little more than burdensome. As my wife and I wandered in and out of financial institutions claiming to have "The lowest rates around" and discovering the degree of separation between institutions was greater than we had anticipated, it became very clear that this process would take a lot longer than we had originally thought.

As we were filling out the umpteenth loan application form one night a commercial for a popular insurance company came on. It offered to give us a free quote from them and from some of their competitors. I have no problem with the idea but I have always wondered how much effort they really put into finding the lowest rate available for the coverage needed. After all they too were trying to get our business. But then I had an idea!

Like some kid that had just realized a potential way to save themselves a ton of work, I went to the Internet and sure enough, there it was! A company that could take the same information that I had been supplying on application after application and shop it around for the best rates! It was over! No more wandering in and out of banks or finance companies to fill out the same paperwork over and over until I was literally cramping. In minutes they came back with the name of a place that would save us thousands of dollars over another company we had been interested in. We had now saved ourselves many hours of painstaking effort.

We started adding the addition the very next week. If you need a loan for any reason just get online and find yourselves an honest site that will find you the best rate possible. This is the Information Age and there are places online that can find you the best rate with less effort than you could ever hope to achieve on your own!

We all know the cost of not shopping around for the best rates. It can honestly add up to thousands of dollars over the course of your loan. Don't work harder, grasshopper-work smarter!

Paul Sanford
Resources:

In The News:

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Washington Times
How can I avoid a mortgage refinancing rip-off?
IndiaPost.com, CA - 54 minutes ago
For mortgage refinancing, that means knowing the terms of your existing mortgage and the latest mortgage rates, as well as reviewing your credit report and ...
The Truth About Mortgage Refinancing Revealed By Connecticut ... SBWire (press release)
Refinancing suddenly booms Honolulu Advertiser
Low Mortgage Rates Bring Refinancing Boom MSNBC
Forbes - Modesto Beeall 25 news articles

Baltimore Sun
Average Mortgage Rate Hits 5%, Lowest in Decades
New York Times, United States - 11 hours ago
Of course, buying a home is a more lengthy process than simply calling up a mortgage broker to refinance, and activity typically slows during the holiday ...
Long-Term Mortgage Rate Falls Again Wall Street Journal
Banks' mortgage rates fall below 5% Boston Globe
Homeowners with good credit scores are poised to capitalize on ... Baltimore Sun
AHN - Scripps Newsall 68 news articles

Lenders Backlogged By Refinancing Rush
Washington Post, United States - 27 minutes ago
Mortgage rates immediately plummeted well below 6 percent, breaking a psychological barrier. Refinance applications have soared each week since, ...

WJBF-TV
US Banks Offer Mortgages Below 5% After Fed Action
Bloomberg - 21 hours ago
The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped to 1143.8 for the week ending Jan. ...
Mortgage rates fall to record low again Forbes
Freddie Mac: Benchmark mortgage rate continues to new low MarketWatch
Bold government action can solve housing crisis North Texas e-News
American Banker - Connecticut Postall 599 news articles

Cardoza proposal could aid housing crisis
Stockton Record, CA - 4 hours ago
Under the Cardoza plan, the payment on that mortgage refinanced to 4 percent fixed rate would drop to $1194 a month. Contact reporter Bruce Spence at (209) ...

REFILE-UPDATE 1-US mortgage demand dipped before Fed move-MBA
Reuters - Jan 7, 2009
The jump in applications during December may have been driven by homeowners already "on the fence" and prepared to refinance on a drop in mortgage rates, ...
Mortgage applications down in latest survey Forbes
Week-to-week mortgage applications down 8.2% MarketWatch
Fewer apply for home loans; credit line delinquencies increase Los Angeles Times
KVOA.com - Kansas City Starall 63 news articles

Boston Globe
Fed’s Rosengren Calls for ‘Concerted’ Fiscal, Monetary Policies
Bloomberg - 7 hours ago
... to purchase or refinance homes,” Rosengren said. The average rate on a 30-year fixed-rate mortgage dropped for a 10th week to 5.01 percent yesterday, ...
Rosengren sees path to recovery Boston Globe
Fed's Rosengren says recession more severe than thought Reuters
all 54 news articles

Los Angeles Times
Congressional Press Release on Mortgage Deal
Wall Street Journal - 11 hours ago
"Despite efforts by Congress to address this issue, not enough lenders have come to the table to help borrowers with bad mortgages refinance into new, ...
Citigroup reaches agreement with key senators on mortgage ... Minneapolis Star Tribune
Citigroup agrees to allow judges to help modify some mortgages IdahoStatesman.com
all 565 news articles

TopNews
Question & Answer on mortgage refinancing
Boston Herald, United States - Jan 1, 2009
If I refinance the mortgage on my current house, will I hurt my chances for getting a loan for a new place later on? A: No. Refinancing a loan shouldn’t ...
MORTGAGES: 30-year Mortgage Rate Falls For Ninth Straight Week To ... CNNMoney.com
Mortgage Rates Hit 37-Year Low Poynter.org
Mortgage Rates Down Again After Rising Above 5.00 Percent Last Week PR-CANADA.net (press release)
Wall Street Journal - Ventura County Starall 457 news articles

Refinancing shoots through the roof
Plano Star Courier, TX - 17 hours ago
“Quite a few people have remortgaged,” said Craig Jarrell, loan officer with Pulaski Mortgage. “Most people who refinance are new homeowners as recent as ...

mortgage refinance - Google News

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