Mortgages

Buying a house is one of the best financial moves you'll ever make and it pays to be very careful when taking out a mortgage to make the purchase. By taking out the proper mortgage, you can save literally tens of thousands of dollars over the life of your loan.

Mortgage loans come in various varieties. Although the 30 year fixed mortgage remains popular, other kinds of mortgages are gaining popularity. Here are some things to consider:

Loan Term - Many people want a term shorter than 30 years so they can pay off their mortgage faster. Doing so can save thousands of dollars in interest charges over the life of the loan.

Fixed or Variable Rate - Many people like the security of knowing their interest rate is fixed for the life of their loan. Others prefer a variable rate mortgage which tends to have a lower interest rate initially which can rise over time if interest rates go up.

Mortgage Fees - This is one area that can vary significantly from lender to lender. Be sure to ask for a specific list of the fees you'll be expected to pay. Compare these fees from different lenders. You'll be surprised at the differences you'll see.

Specialty Mortgages - Three are a number of different kinds of "specialty" mortgages from those that require a balloon payment to mortgages that are "interest only". Make sure you understand the terms of your mortgage before you sign any documents.

Loan Repayment - Most people make one mortgage each month. You can save a lot of money over the term of your loan if you make what are called bi-weekly payments on your loan. By making a smaller payment every two weeks instead of paying once a month, you end up making one additional mortgage payment each year which can save thousands in interest payments over time.

People in the market for a new home face a dilemma. Interest rates have been at an affordable 6 percent or so for the past 18 months, but the cost of homes hasn't stopped climbing.

Lenders have designed a variety of creative mortgage products to make homeownership more affordable. With so many financing choices on the market, it's easy to get confused. Get in the know on today's mortgage products and save.

Quicken Loans is one of the nation's largest home mortgage lenders and was named "Best of the Web" by Forbes, Money and PC magazines.

Quicken Loans offers over 100 loan programs for purchase, refinance and home equity. Their process is quick and easy. You can apply online in minutes. You can even sign your application and track the process of your loan online.

Nearly 20 years experience

Direct lender in 50 states

Great rates

Fast, easy, minimal paperwork

Find out that "The Easiest Way To Get A Home Loan" is with Quicken Loans, a name you trust.

About Us Your Privacy Terms & Conditions Contact Us Links