Choosing The Right Home Mortgage Loan for Refinancing or Home Purchase


Visitors: 172

People ask me all the time, “How do I choose the right home loan?" As you may already know, purchasing a home will most likely be the largest purchase of your life. So don't rush into the loan process unprepared. It is important to understand your credit worthiness as well as your financing options before you make an offer to buy or house, or before you go to refinance your existing mortgage.

The good news is that, these days there is many more mortgage loan products available. I spoke with a respected homeowner, John Allen the other day about his thoughts on financing his first home. John seemed a bit taken back by question, but he paused and considered my questions. Mr. Allen responded, “I was overwhelmed at first with the realtors, home inspections and counter offers. . . but once I had my financing in place it all fell into place. " John continued, " I knew how much I qualified for, and then I found the right house, and locked in a great mortgage rate. The realtor and my loan officer took care of the rest. "

Today homebuyers, and homeowners have more options than ever. 80-20 loans that require no money down have become common purchase loans. 100-125% mortgage refinancing has become available for consolidating credit cards and loans. Quite frankly, its a good time finance a home. Meet with your loan officer and discuss your credit, and loan qualifications. You never know when your dream-house falls into your lap. If it does. . . you better have your financing in place.

Arts's top 3 loans to watch in 2006 and 2007-

1. Option Arm Mortgage- great loan for increased purchase power

2. 110% Refinance- perfect loan for converting first and second mortgages into one mortgage with no pmi.

3. Home Equity Line of Credit- Anyone interested in buying an investment home should a HELOC at their side.

Art is a critically acclaimed writer who has gained a lot of popularity through many internet circles over the last few years. He has published many helpful finance articles. Over the last few years, Art has been a mortgage consultant training loan professionals for some of the nation's top mortgage companies. If you would like to read more helpful articles online, visit Bad Credit Mortgage Refinance . To get more advice & finance tips, please contact go online to learn more about program updates for Second Mortgage Loans and Home Purchase Loans .


Article Source:

Rate this Article: 
Understand Your Mortgage Broker When Refinancing Your Home Mortgage Loan
Rated 4 / 5
based on 5 votes

Related Articles:

Mortgage Refinancing 101: How to Get Started Refinancing Your Home Loan

by: Louie Latour (November 29, 2006) 
(Real Estate)

Mortgage Refinancing - The Basics of Refinancing Your Home Loan

by: Gary Clark (August 11, 2008) 
(Finance/Mortgage Refinance)

Refinancing Your Home Mortgage Loan - Is Refinancing For You?

by: Carrie Reeder (November 22, 2005) 
(Finance/Mortgage Refinance)

Mortgage Information - Refinancing? Second Mortgage? Home Equity Loan? ..

by: Carrie Reeder (June 07, 2005) 
(Finance/Mortgage Refinance)

Home Mortgage Refinance Loan - Costly Mistakes You Need to Avoid When Mortgage ..

by: Louie Latour (December 19, 2006) 
(Real Estate)

Home Mortgage Loan Refinance - Refinancing a Fixed Rate Mortgage

by: Carrie Reeder (September 13, 2005) 
(Finance/Mortgage Refinance)

Refinancing Your Home Mortgage Loan - Refinance Your Adjustable Rate Mortgage

by: Carrie Reeder (September 13, 2005) 
(Finance/Mortgage Refinance)

Mortgage Refinancing Tips to Help You Shop for the Best Home Mortgage Refinance .

by: Louie Latour (December 18, 2006) 
(Real Estate)

Home Mortgage Refinance Loan – Tips to Get Started With Mortgage Refinancing

by: Louie Latour (December 15, 2006) 
(Real Estate)

Understand Your Mortgage Broker When Refinancing Your Home Mortgage Loan

by: Louie Latour (January 16, 2007) 
(Real Estate)