Finance Information

What is a mortgage ?

A mortgage is a temporary, conditional pledge of the title to your home as security for repayment of a debt.

Where does the money come from ?

The money that will fund your loan can come from several different sources. The most common source is local lenders such as banks that hold savings accounts, certified deposits, etc. They will use that money to lend to others, at a higher rate of interest than what they would normally pay to their depositors. Keep in mind that lending is business, and lenders are in the business to make a profit.

Why do interest rates fluctuate ?

The main reason for fluctuation in national interest rates is “supply and demand”. Rates will be higher when the demand is higher. When the money supply is low and a large number of people are trying to borrow, the interest rates will go up. When demand for loans is low and money is plentiful, the rates will come down. The national economy is a good indicator whether the rates will go up, down or remain stable. Please keep in mind that a borrower’s credit-worthiness is critical in determining the interest rate on their loan.

Where can I find out more detailed information?

For more information about mortgages in your local area, you can find the answers a few different ways:

1 Local Newspapers

For the most part, your local newspaper will have columns specifically for mortgage information. This column will normally cover announcements made public about interest rate changes, or changes in mortgage guild lines.

2 State and Federal Government

You can also find out mortgage information through your local state government or even through the federal government. For your convenience we have put together a easy access page with all 50 states official state websites, you may find it here.

3 Local Housing Authority

A local housing authority can be a great source of free information about mortgages and housing. They may even be able to help the first time home buyers with programs that may include help with down payment, as well as basic mortgage information.

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A Few Different Home Loans Available

Adjustable Rate Mortgage - Ideal for people moving out or refinancing within the first 7 years
10/15/20/30 -Year Fixed Rate Mortgage- designed for people not moving within 7 years
Interest Only Loan and Payment Option Loan
Jumbo Loan – For people looking for a home loan over $359,650
Simply take cash out of your home by refinancing
Second Mortgage, and Home Equity Line of Credit
Varity of Home Purchase loan
100% Financing on Home Loans – No Down Payment available

Get your Free Mortgage Quote Now! There is NO Obligation!

1. Fill out the quick Home Loan quote request online. We will match you with the loan specialists that provide the home loan that you need.

• There are hundreds of options and thousands of loan programs available. That’s why we make it easy for you: we do the research and find the companies that offer the programs that you need. The Apply2Refi Lender Network covers loan programs in all 50 states, so no matter where you are in the country or on the credit scale, we can help you find the loan you need.

2. You will receive up to 4 free - NO OBLIGATION custom designed Loan quotes. You can then compare the programs and choose for yourself which offer you like best.

• You never want to “Put all of your eggs in one Basket”. Get a few different loan quotes and decide for yourself what fits your needs. Negotiate your own fees and design your own custom home loan. Choose the best quote and proceed with getting “Pre Approved”. Once you are pre approved for a home loan and your home is appraised, your loan will be submitted for a “Full-Approval”. With your loan fully approved you can get your rate locked in.

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Take moment and apply now! It’s Free, and there is No obligation