Low Mortgage Rate
Who doesn’t want low mortgage rates? A low mortgage rate means spending
on monthly payments during the course of a mortgage. A low mortgage
rate can save homebuyers like you several thousands of dollars. A
low mortgage rate means having more funds to spend on investments
that might prove profitable.
Despite the reported increase of previously low mortgage rates, rates
today are still low enough to consider a mortgage refinance for your
home. The Internet provides you with the perfect portal to start applying
for those low mortgage rates. Below is a list of websites where you
can apply for low mortgage rates.
The Low Mortgage Rates of Interest.com
Interest.com offers you an opportunity to compare rates of several
lending companies in your state so you can have a better chance at
getting a low mortgage rate. For instance, you want to apply for a
low mortgage rate on a 30-year fixed rate refinance mortgage in Georgia.
The amount you wish to borrow is $100,000 with no discount points
and a standard loan type. After clicking on the search button, the
page will display the low mortgage rates of several lending companies
in Georgia, including Sterling Home Mortgage Corporation whose low
mortgage rate is 5.375%. There are several other lending companies
that offer low mortgage rates and all you have to do is choose the
one offering the lowest rate.
The Low Mortgage Rates of MortgageRatesUSA.com
Mortgage Rates USA is yet another company that offers choices and
options for costumers who are on the look out for low mortgage rates.
Their online low mortgage rate quote request is free and secure. The
information you provide so the website could generate your low mortgage
rate quote request is only shared with the lender and not with any
The Low Mortgage Rates of ELoan.com
E-Loan is one of the top lending companies offering low mortgage rates.
The reason for their low mortgage rates is that they do not charge
you with any lender fees or any other hidden costs which is the main
culprit to an increased mortgage rate. For example, a 5-year adjustable
rate mortgage with E-Loan has a low mortgage rate of 4.625% and an
APR of 5.078%.
"A wise person should have money in their head, but not in their heart.”
- Jonathan Swift
How to take advantage of low mortgage rates
Refinancing is something that all homebuyer should consider when the
market offers low mortgage rates. When you refinance, you take advantage
of low mortgage rates by paying off your first mortgage with a new
mortgage with low mortgage rates. This move can help you lower down
your monthly payments and save on your overall interest bill.
For example, you have a year into a $150,000 loan for 30 years. The
interest rate is 8.5 per cent and fixed for the duration of the loan
period. You can refinance your first loan with a new 30-year loan
with a low mortgage rate of 7 per cent. By doing this, you can cut
down on your monthly payment by $155 to $998. The low mortgage rate
of the new loan can also help you reduce your overall interest bill
by $42,200 to $223,000.
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