Mortgage Lenders

For example, what tells me if someone else with the same financial profile didn’t have a better rate?

There is no for sure way to know this. You can look up interest rates for the type of loan you are seeking and see if they are close to yours based on whether you have great credit or not.

Again mortgage quotes is the way to comparison shop.

I think my score is over 750, and i’m wondering, does anyone know where to get the best 30 year fixed rate loan from? And what the Interest would be?

With that score, you shouldn’t have too much trouble, unless you can’t afford to buy a house. Call around to various lenders and see what they have to offer.

The property has 25% equity in it.. My FICO score is around 740. I run my own business so I will need to use stated income. What is best loan for me in this situation and what kind of interest rate should I be looking for?

THANKS!

I would take a fixed rate interest only mortgage. A repayment mortgage is hardly going to put a dent in the principle over seven years anyway. Interest only will give a much cheaper payment. You can always make extra payments to the principle if you have spare money. But often it is better to pay down other higher interest debt like credit cards anyway.

But generally the best option is to have a long hard talk with an expert. There are too many variables involved in each specific situation.

I have talked and gone over different programs and rates countless times now, and find the programs are so many and complicated, I don’t know which way to go. Please tell me if there is an official office or business that directs persons refinancing, etc with the right information and what to look for when applying. I have stopped doing anything on my home because of the conflicting offers and interest rates.
Example: one lender offered 5.75% fixed rate-interest only for 5-7-or 10 years, with a payment of $1,245.00 per month. Another lender said, that’s not possible, and offered the same deal, except 6.75 fixed rate. He said, better ask how much of your money you will be paying to the lender over the term you choose, etc. They either will charge points, or there is more to the loan than they are stating.

Missy….A website I have found very useful for your situation is bankrate.com. Regardless of whether you use bankrate.com, I suggest obtaining what is called a "good faith estimate" from several mortgage brokers. To help you compare apples to apples I suggest you first determine the number of points you wish to pay on the loan (the higher the points or upfront fees…the lower the interest rate…..the lower the points…the higher the interest rate.) In any event, have all mortgage brokers or banks you which to obtain quotes from base their good faith estimate on zero points, one point or two points. One important suggestion is to obtain all the quotes on the same business day because quoted rates change ever single day. Good luck with the process.

I came accross a list of the best rated 100 mortgage companies. The page has got the merit of surveying a question and issue of of interest to the global community by fostering individual self-expression and community interaction. But yet panelists haven’t decided which mortgage companies were the best . The poll remains open till December 31 2007. You may want to have a look and tell me what you think about this survey at http://mortgage.yeyeyup.com/best_rated_mortgage_companies.html

i have a mortgage with HSBC. personally all is bad. after your money…
here is a list bancks offering mortgages.

I’m thinking about re-financing,but the more lenders I talk to,the more confusing it seems to get.I need to find a lender who is honest and a straightshooter.I’m tired of these guys who only think for themselves first.The rates seem to be great,but then those closing costs are absolutely rediculous.Any lenders out there who charge less than the average Joe?

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Hi everyone

I was just wondering if anybody could possibly give me some info on the best types of mortgage deal in the UK, and what size deposit and stuff I would need.

I have looked myself but find it all very confusing. I want a mortgage of around £150,000 to start.

Thanks

Perhaps you need to consult an Independent Financial Adviser or Mortgage Consultant. They will help you look for the best deal for you, after doing a proper financial fact finding exercise. Make sure, though, that you do get an independent, rather than someone who is tied to a particular company’s products.

To give you an idea of the sort of thing to discuss with them, have a look at a couple of websites that will give you some idea of what is currently available. I’ve posted links to some below – the first one is particularly good.

My procrastinating sister tells me that she needs to make a mortgage decision this morning on her new 250,000 home. She can either get a fixed 30 year mortgage for 5.75% plus PMI or she can get a 6.37% mortgage that avoids PMI and somehow lowers her payment $200 per month. Does this make sense and if so, which option would be best? She probably won’t stay in the home more than 5-10 years.

there are better options for her considering she is only staying in the home 10 years max. there are programs that the lenders pay PMI her . tell your sister PMI is temporary once the home gains value that the loan amount is below 78% of the home value it goes away simply put after 2 years or so get an appraisal.

the rate seems slightly high only slightly high though. there are lender paid PMI programs available. tell her to shop a bit this morning and see what else is out there.

check the rates on the site below and a few others to compare the site below you can request a rate and they will tell you. good luck to your sister

I would like to run a small bed and breakfast on an occasional basis. (2 or 3 bedrooms maximum). If the rest of the house is my residence, do I need to apply for a commerical mortgage or can I have a residential mortgage? I will be buying a new property for this purpose as my present property does not have ensuite bedrooms

Ive just purchased an existing Guesthouse which required a commercial mortgage, but the bank would only sanction the money after reveiwing 3yrs accounts and my own buisiness plan. The other thing to look at is they will only a maximum of 70%. Some indipendent mortgage companies will only lend 50%, my advise there would only use a bank. While viewing several guesthouses i came across a couple that brought their house and converted it to a guesthouse, and after having all the work completed they then informed the various banks and insurance people of what they had done. I belive their mortgage hasnt changed, just the extra cost of insurances and taxes. Good luck with your search, we are just waiting for a date to move and very excited about it.

My partner and I are looking for a great mortgage broker. Any suggestions? We have heard of a couple of people through friends but want to find someone who is truly amazing.

Thanks! )

me…lol.. You can check out my profile on LinkedIn. Actually, I’m here if you need the help. Best of luck either way.