Home Mortgage Refinance Loan, Home Equity Loan,

Need a Low Rate Home Loan In Minutes?
Simple Sign Up & Fast Decision,
Compare Offers Now While Rates Are Low!

Up To 4 Offers In Minutes
No Cost, No Obligation
Rates Beat the National Average

Home Refinance, Home Purchase or Home Equity Loans
How to refinance into a better mortgage without wasting time or money.
Step 1: Check your credit score
Step 2: Find the right refinance loan for your needs
Step 3: Compare refinance offers and perform break-even analysis

Start Your Free Request Now!

What do you want?
... a low monthly payment?
... take out some money from your home's equity?
... a loan that you can pay off faster?
All These and more...

Mortgage Rates- No Updates Today
NATIONAL OVERNIGHT AVERAGESTODAY+/-LAST WEEK
30 yr fixed mtg No Updates + No Updates
15 yr fixed mtg No Updates + No Updates
5/1 ARM No Updates + No Updates
30 yr fixed jumbo mtg No Updates + No Updates
5/1 jumbo ARM No Updates + No Updates
Source from bankrate.com
Rates may include points
Refinance Rates - No Updates Today
NATIONAL OVERNIGHT AVERAGESTODAY+/-LAST WEEK
30 yr fixed mtg refi No Updates + No Updates
15 yr fixed mtg refi No Updates + No Updates
5/1 ARM refi No Updates + No Updates
30 yr jumbo fixed mtg refi No Updates + No Updates
5/1 jumbo ARM refi No Updates + No Updates
Source from bankrate.com
Rates may include points
Home Equity Rates - No Updates Today
NATIONAL OVERNIGHT AVERAGESTODAY+/-LAST WEEK
$30K HELOC No Updates + No Updates
$50K HELOC No Updates + No Updates
$30K Home Equity Loan No Updates + No Updates
$50K Home Equity Loan No Updates + No Updates
$75K Home Equity Loan No Updates + No Updates
Source from bankrate.com
Rates may include points
2005-2016 myloansfinder.com All rights reserved

Home | Privacy Policy | Terms of Use | Contact us | Trademark Owners| | myLoansFinder Blog


Some Experience from the author: (Please note, I'm a regular guy like everyone else, but have spent time researching this topic) I was in a fortunate position that allowed me to purchase a home here in California around the San Francisco Bay Area. Here is some terminology that you'll encounter in your search for home loans. I've also included some hints that I've learned in the process. Hopefully they'll be helpful for you.

Loan Types: Note also that I decided to pay for 1 extra points for the 5/1 ARM Interest Only loan, which means I have to pay an extra 1% during loan closing which reduces the monthly payment by a few hundred dollars which will be recouped after 19 months. I also plan to pay extra every month for the principal as well as set up a plan to pay twice a month because this would reduce the 30 year loan to like maybe 22 years(more about this below).

Lessons I learned One of the things I have learned about mortgages is that I can actually decrease the length of a 30 year loan to about 22 or 23 years. I've read several books, among them was a book by David Bach entitled, "The Automatic Millionaire Homeowner." It's really quite simple. Let me share.

Instead of making the monthly payments the way we normally do it, we split it down into half and pay one-half every other week. Say our loan payment was $2,000 per month. Under the biweekly plan, instead of sending a $2,000 check to our lender once every month, we would send them a $1,000 check every two weeks. At the beginning, paying $1,000 every two weeks probably won't feel any much different than paying $2,000 once a month. But remember the calendar isn't as straight forward as it seems. A month after all, is a little more than four weeks.

What happens as a result of moving to a biweekly payment plan is that over the course of a year we gradually get further and further ahead of our payments, until by the end of the year we have paid about 13 months worth of payments instead of 12. The change is gradual but significant in the long run.

A monthly mortgage payment of $2,000 amounts to $24,000 a year. When we make an extra half payment every 6 months we end up with 26 1/2 payments which is equivalent to $26,000. So with this recalculated monthly payment plan we've moved ourselves up $2,000 in payment. This allows us to pay back our loan faster, saving ourselves from the dreaded interest that incurs through time. We can end up paying off a 30-year mortgage early. Calculated it would be between 5 and 7 years early with about $106,000 of savings if the interest rate was at 7%.

Loose Ends:
You should know that some lenders cannot service all types of loan applications that come to them. For example, you might want a loan from XYZ company. XYZ company might be broker or a direct lender. A couple things could happen if they cannot service your loan, either XYZ company goes to a direct lender like CountryWideHomeLoans since CountryWideMortgages which is the largest home loan lender in the United States, or sometimes XYZ company is a small company and is part of a lending network like LendingTree, in this case it might be better to go with LendingTree to see if LendingTree can create a competition between its lenders so that you save a bunch of money when the deal comes to you. As LendingTree would put it, when Lenders compete you win.

Disclaimer: We detected that your search keyword was empty string. We are not associated to your search keyword empty string.