Our nationwide participating lenders offer the best rates around,
which can add up to substantial savings over the life of your loan. We currently are
offering special fixed rates to mortgage holders with Adjustable Rate Mortgages (ARM).
Lock in a low interest rate for the entire loan period without worrying about rising prime
interest rates. First time home buyers also benefit from our lenders offering zero money
down loans and additional services geared to first time buyers. Their online questionnaire
takes a few minutes to complete and, based on what you tell them over 100 lenders will
find a loan that matches your needs....
Here's how the
LendingTree loan Group can help you
make smart financial decisions:
You'll Save Time: Fill out one form
online or at our office, one time and get free quotes from multiple lenders within a short time.
Getting pre-qualified, before shopping for a home, makes the seller respect your price offers...
You'll Save Money: We know we can find
you the best rates... and guarantee the results can't be met by other online loan qualification
Convenient: You can request quotes
anytime you wish, 24 hours a day, 7 days a week. Let the banks comptete for your loan... you
Easy: Comparison-shop with no sales
pressure, since the most likely lenders are competiting for your loans...
Informative: Obtain accurate and reliable
quotes without running from office to office or having lending Telemarketers hound you with high
interest rate offers with hidden traps.
Secure: Shop in privacy -- any
information you provide the trusted LendingTree Loan Group remains completely confidential.
Your financial health - your credit and home
Is now the
right time financially for you to buy a home? Would you rate your financial picture as
healthy? Is your credit good? While you can always find a lender to lend you money, solid
lenders are more skeptical if your credit history is not good. Generally, a couple of
blemishes on a credit report will make you a good credit risk and could qualify you for
the lowest interest rates. If you have more than a couple of blemishes on your report, we
have lenders who may still provide you with a loan, but you may just have to pay a higher
interest rate and fees....
Some say that you should refrain from borrowing as much as you qualify for because it is
wiser not to stretch your financial boundaries. The other school of thought says you
should stretch to buy as much home as you can afford, because with regular pay raises and
increased earning potential, the big payment today will seem like less of a payment
tomorrow. This is a decision only you can make. Are you in a position where you expect to
make more money soon? Would you rather be conservative and fairly certain that you can
make your payment without stretching financially? Make sure that whatever you do, it's
within your comfort zone.
To determine how much home you can afford, use some
of our "home affordability" mortgage calculator. Good calculators will give you
a range of what you may qualify for. Then call a lender. While some may say that the
"28/36" rule applies, in today's home mortgage market, lenders are making loans
customized to a particular person's situation. The "28/36" rule means that your
monthly housing costs can't exceed 28 percent of your income and your total debt load
can't exceed 36 percent of your total monthly income. Depending on your assets, credit
history, job potential and other factors, lenders can push the ratios up to 40-60% or
higher. While we're not advocating you purchase a home utilizing the higher ratios, its
important for you to know your options...
Where the money for the
transaction will come from.
Typically homebuyers will need some money for a down payment and closing costs. However, with
today's broad range of loan options, having a lot of money saved for a down payment is not
always necessary - if you can prove that you are a good financial risk to a lender. If your
credit isn't stellar but you have managed to save 10-20% for a down payment, you will still
appear to be a very good financial risk to a lender. ...
The ongoing costs of home
Maintenance, improvements, taxes and insurance are all costs that are added to a monthly house
payment. If you buy a condominium, townhouse or in certain communities, a monthly homeowner's
association fee might be required. If these additional costs are a concern, you can make
choices to lower or avoid these fees. Be sure to make your realtor and your lender aware of
your desire to limit these costs.
If you are still unsure if you should buy a home after making
these considerations, you may want to consult with an accountant or financial planner to help
you assess how a home purchase fits into your overall financial goals. We have recommendations
for qualified local experts in reality law, appraisals, financial management, home improvement
and repairs, heating & Air conditioning, landscaping and other professional services
revolving around buying or selling your home.