Mortgage Solutions For Every Type Of Mortgage Need

Seeking out a mortgage can be an incredibly confusing task.  It is not so much difficult but more overwhelming.  The most solid piece of advice that can be given to people looking to refinance or to obtain a mortgage is to look around and get a variety of quotes from a number of different companies.  Not only are you looking for the best terms and rates within your mortgage you are looking for a broker that provides you with exceptional customer service.

When you are shopping around for a mortgage and company to work with you will understandably find yourself in a difficult position.  In order to sort through all of the information that is being handed to you it will be important to be organized.  As a mortgage seeker you will want to scrutinize all of the details and ask questions about the variety of mortgage quotes you have been given. 

Compare the mortgage quotes you have been given along with the service you have been provided.  This will help you narrow the field down substantially.  A low rate is not everything and can be deceiving in mortgages.  Be sure to thoroughly review and compare each option.

Mortgage seekers should use the information below as a base guideline when shopping for a new home loan, refinancing and other options in mortgages.

1)      Don’t necessarily take the first mortgage quote you are given.  It is important to review the details, ask questions and even negotiate to ensure that you are getting the best mortgage for your current situation.

2)      Shop around for a variety of mortgages with several mortgage companies.  The broker you deal with should also be handpicked.  If you are dealing with a broker that you find difficult to deal with and find their explanations hard to understand ask for someone new to assist you.

3)      Low sounding interest rates draw you in but don’t let them deceive you.  There is a catch to everything from low mortgage rates to low monthly payments on car loans.  Somewhere you will be picking up the expense. 

4)      Check on redemption penalties or early pay off penalties.  You will want to find a mortgage without any penalties for refinancing with another company or for paying your mortgage off before it is due.  This will be hidden well in the small print and not something that will be publicized.  In order to not cheat yourself ask about these fees upfront.

5)      Never pay for a quote for your mortgage.  New mortgage quotes, refinances, reversed mortgage quotes and home loans quotes should all come free of charge.

6)      You should know that even though you get a quote from a lender that does not obligate you to sign up for a mortgage with that firm.  A quote is free from obligation and therefore none should be felt.

7)      You should feel free to share with each of the brokers and mortgage companies that you are shopping around for the best rates and terms.  This will automatically make them bring their best offer to the table knowing that there is competition in the mix. 

For more information or to find a mortgage lender in your area look online today.  There are a number of local brokers that represent a variety of mortgage companies from all across the country.

Cross Country Mortgage in Brighton, Michigan provide mortgage services for clients including new home loans, refinancing, reversed mortgages, new purchase home mortgages and home equity loans to the entire Livingston County area including Brighton, Howell and Livingston County. Cross Country Mortgage Brighton, Michigan at http://brightoncrosscountry.com/

Tips To Help Pay Down Your Mortgage

Purchasing a home is one of the most expensive investments you can make in your lifetime.  Not only does it take up a huge amount of the money you are currently earning but also a chunk of the money you have in savings.  The larger the down payment the smaller the monthly payment however you never want to leave yourself without a comfortable cushion.   Having a mortgage takes up a large percentage of your monthly take home pay and therefore many homeowners try to pay their mortgage down as fast as possible.  With that in mind we have compiled a list of ways to make it easier to pay your mortgage down quickly.

The first way to pay your mortgage down faster is quite obvious; put more money down on your mortgage each month.  The larger the payment, the faster you will pay down your mortgage and the closer you will be to paying it off.  One way to do this is to make payments bi-weekly instead of monthly.  This will allow you to make 26 smaller, more manageable payments rather than 12 larger payments.  Using this technique will allow you to make one extra payment a year as well.

If you want to you can also increase the amount of your mortgage payment.  If you are able to do this you will then be putting more money directly towards the principal of the mortgage.  Be sure to include the portion of the payment to be applied to the original mortgage payment and what you would like to be applied to the principal.

Another method to pay off your mortgage faster is to put increases in wages towards the payment.  This includes bonuses or incentives as well.  The more money that is applied directly to the principle of your mortgage the sooner you will find yourself paying your mortgage off.

If you come into a lump sum of money and already have stocked away a fund for emergency’s consider making a onetime lump sum payment to the principle of your mortgage.  The more that is paid directly to the principal the less you will pay in interest in the long run.  The less interest paid the more money available to go towards the principle of your mortgage.  It is one of those times that the catch twenty two works in your favor.

When you are looking at options in mortgages look for options that offer a fifteen year fixed mortgage payment over the thirty year.  If the payment at fifteen years is too large to handle try a twenty year mortgage.  The less amount of time you finance your mortgage for the less interest you will pay and the sooner your home will be yours clear and free of a mortgage payment.

Apply these tips to paying off your mortgage and you will see how quickly an extra yearly payment or two stacks up in the long run.

Cross Country Mortgage in Brighton, Michigan provide mortgage services for clients including new home loans, refinancing, reversed mortgages, new purchase home mortgages and home equity loans to the entire Livingston County area including Brighton, Howell and Livingston County. Cross Country Mortgage Brighton, MI at http://brightoncrosscountry.com/.