Mortgage Loans: Finding the Best Mortgage Loan

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mortgage-loans-finding-the-best-mortgage-loanMortgage loans were easy to come by over the past several years when credit was flowing, anyone with a pulse was able to get a mortgage loan. Many people were able to get a home loan without providing proof of their income.   

The pendulum has now swung in the opposite direction, getting a mortgage home loan is a lot harder these days. Providing proof if income is a must to obtain a mortgage or home equity loan. Banks have tightened mortgage loan standards often requiring a 20% down payment for buying a home or a maximum loan-to-value ratio of 80% for a mortgage refinancing.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 06101, 2, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/16/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from New American Funding
New American Funding
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111741.gif
300000
Purchase
3.524%
3.375%
USD
New American Funding Logo
NMLS # 6606
10/16/2019
at 1.875 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $5,625
Direct lender specializing in helping you save money on your home loan.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/16/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.





Mortgage Loan


Getting a home loan these days is harder but finding the best mortgage loan rate is a lot easier than it used to be. In the past, the options were to either go through a mortgage broker or go directly to a bank.  Shopping for a mortgage online is now possible, making your search for the best mortgage loan and mortgage rate a lot easier.

The first step in getting the best mortgage loan and mortgage rate online is to figure out which type of loan is best suited for you. We recently published an article on how to choose a home mortgage , this article will help you with this decision. Choosing a Home Mortgage

Deciding how much you can afford for a down payment is another factor to consider when qualifying for a home loan. Most banks are once again requiring a 20 percent down payment. Figuring how much you can afford to pay each month on a loan is another factor.

Current Mortgage Rates


Now that you have decided on a home mortgage that best fits your needs, you can start your search for current mortgage rates available. Monitorbankrates.com has rate tables for today's mortgage rates in your area, just type in your zip code, loan amount and mortgage type and you will see a list of banks and mortgage rates in your area.

Mortgage Rates

 
Author: Brian McKay
June 24th, 2009