Dont Sign Up For A Mortgage Loan Before You Read This

Dated: 04/01/2018

Views: 34145

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The Easiest Way to Get A Mortgage In The World, Yet More than 95% of People Who Tried it SUCCEEDS, Why?

Thinking about getting a mortgage naturally prompts tons of questions. Don’t feel bad if it seems like there is a lot you don’t know.

Let’s get something straight, right out of the gate: Becoming a Homeowner is for EVERYONE.

What is a Mortgage?

A mortgage, or mortgage loan, is a legal agreement where a lender offers money to a borrower to purchase real estate in exchange for interest.

Are you looking for the best deal possible for your home loan? If so, you should get multiple offers from several lenders in a matter of minutes. Why minutes? Mortgage interest rates change constantly because they are affected by the prices of bonds and mortgage-backed securities (MBS), which are bought and sold like stocks.

When comparing mortgage programs, you should get the same information from each lender. 

  • Interest rate

  • Duration of interest rate (Does it adjust? When? By how much?)

  • Loan term (15-year, 30-year, etc.)

  • Lender fees and 3rd party charges

  • APR

  • Features like interest-only payments or prepayment penalties

  • Mortgage insurance or funding fees.

Buying a home is one of the BIGGEST purchase decisions you’ll ever make. But getting a mortgage loan doesn’t have to be difficult. Whether this is your first time applying for a home loan, or you’re buying a vacation home or investment property, you want to be prepared.

What do I need to know about home financing?

  • How much can I really afford?

  • The importance of your credit score

  • Can I get a better interest rate?

  • Is an FHA loan right for me?

How do I qualify for a loan?

Everyone is different. But it’s easy to find out what your personal home loan and mortgage rate parameters are. Lenders focus on these 5 things:

  1. Credit Score

  2. Household income

  3. Job History

  4. Cash reserves

  5. Down payment amount

How do I shop for a home loan?

Here’s how: if you take a look around the internet you’d notice that more than 63% of home buyers are applying for a home loan online.

Due to current mortgage rates constantly changing, the first home loan you’re offered may not be the best one. That’s why it really pays to shop around.

So how do you do that? It's easy! Check current rates online now (Get up to 5 free loan offers in minutes), check out lender reviews and ratings. Or, if you already have an offer, use the Mortgage Negotiator Tool to make sure you're getting the best deal.


*It’s a great first step to turn your dream home into a reality.

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Disclosure: May receive compensation from the companies whose products we review. We are independently owned and the opinions expressed here are our own.

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Jeremy Jacob

After collegiate and professional basketball careers, Jeremy knew he wanted to move on to the next chapter of his life; a chapter that involved his passion of meeting and connecting with new people th....

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