Tag Archives: Buying a Home

Mortgage Finance

Time To Purchase A Home – Low Rates, Buyers Market

The summer of 2010 has become one of the best times to buy a property. There has never been a better time in the real estate market to buy a new property. From the low rates on home mortgage loans to the fantastic prices on the houses on the market, now is a great time to be a home buyer.

Low Mortgage Loan Rates

Mortgage rates are striking record lows and with a lower interest rate comes a lower house payment. If you purchased a home for $200,000 and did a 30-year mortgage, you will save over $55,000 over the lifespan of the home mortgage compared to someone who purchased that same home about a year ago.

The last time rates were this low was back in 2004, but today, the rates are even lower. The amount of money that can be saved is tremendous.

Even with the home loan guidelines tightening, many consumers are still able to get qualified for a mortgage loan. FHA home loans offer lower down payment options.

This opportunity is great for first time home buyers. With the real estate market in the buyer’s favor, a first time home buyer could save thousands!

The Current Real Estate Market – A Home Buyer’s Advantage

The real estate market over the past year has gotten better as many areas are starting to see less foreclosures, but there are still more houses on the market than willing people to purchase these properties. This means that the market is still considered a buyer’s market. Great news if you are looking to buy a new property.

A lot of sellers are paying for buyer’s closing cost or reducing the price of the property. Many home builders have great incentives to buy today. A homebuyer could purchase a new home without even paying closing cost.

Several homebuyers are finding awesome deals on houses that are not short sales or foreclosures. There is a misconception that short sales or foreclosures are the best deals, but in many areas, builders and homes sold by their owner are actually a better option.

The real estate market is in the buyer’s favor, so now is a great time to buy a property. Contact your local Realtor Consultant and discuss what your real estate market is doing. Since each real estate market is not the same, it is important to discuss with a real estate consultant before making a decision.

Keep in mind that purchasing a house is an investment and that you should look at the purchase of a home over the long haul. Properties will gain and lose value in the short time, but over a long time period, properties usually gain in value. Take into consideration the money you will be saving in interest and closing cost, and for those that act quickly, they could save thousands.

David White is a Senior Home Loan Advisor with over 12 years experience. David specializes in home loans. David is a Dallas home loans expect. Unique version for reprint here: Time To Purchase A Home – Low Rates, Buyers Market.

categories: Real Estate,First Time Home Buyers,Buying a Home,Home Buyer,Mortgage Loans

Mortgage Finance

Making The Best Application To Get The Best Edmonton Mortgage The Smart Way

Being a smart consumer about an Edmonton mortgage is very important. It’s very similar to the way you would go about it in other Canadian provinces. However, all consumers should know a little bit more. If you are trying to get the best Edmonton mortgage, don’t think only about your bank. Most people do because it is a place they know and frequent quite often. But don’t believe that your Edmonton mortgage application will be subjected to any kind of special treatment due to this comfort zone or association that you feel you have with the institution.

Is the Edmonton Mortgage through a Bank the Best Option?

Going for a Bank Edmonton mortgage doesn’t mean that you will automatically be approved for your Edmonton mortgage. Each institution has their own guidelines. So, even good customers could be turned away and rejected from obtaining an Edmonton mortgage. In fact, it is quite common to occur. In previous years, our fathers and grandfathers saw different types of banking methods. Back then, having a good referral from the bank manager was all that one needed to be approved for an Edmonton mortgage. But this isn’t the case any longer. And, even if you are approved, you may end up paying higher rates in terms of interest.

Comparative Shopping for an Edmonton Mortgage

Shopping around your Edmonton Mortgage is highly recommended. Of course, this might be difficult for any one individual to do. In addition to that, you want to ensure that creditors giving an Edmonton mortgage are not continuously conducting credit checks. If too many are done in a short period of time, it could hurt your overall score. So, if you are doing it on your own, make sure you print a copy of your report and bring it to you to each lender.

Using a Broker to Obtain your Edmonton Mortgage

One great way to obtain an Edmonton mortgage is by going through a qualified broker. These people are experienced and properly trained to do just this. They find and no of Edmonton mortgage lenders and submit your information to them. Quickly and effectively, your information will be sent out to the various lenders with the papers and documents properly filled in according to the criteria that each Edmonton mortgage lender requires to be fulfilled. In essence, they save plenty of time. Finally, you shouldn’t be afraid of seeing these people, as there is no charge to discuss your matters and even do the work for you. The only time they are compensated is if your mortgage is approved.

Ways to Find an Edmonton Mortgage Broker

There are different ways to go about finding an Edmonton mortgage broker. To begin with, you can use your Yellow Pages or go online to find those in your vicinity. Of course, it’s always best to get an Edmonton mortgage broker through recommendation. This recommendation can come from your real estate agent. They would be glad to supply the best Edmonton mortgage broker to you because it is in their favor at the home sells, as that’s the only way they make money. On the other hand, you can always look toward your family and friends for any references they have regarding Edmonton mortgage brokers.

Steve Fraser is an Edmonton Mortgage Broker. Learn the four crucial questions you should ask when looking for a mortgage broker when you download his free report, “The Insider Secrets to Protecting Your Finances and Getting a Money-Saving Mortgage Even if You Have Bad Credit,” from his Edmonton Mortgage Blog.