|
|
|
5 secrets for success from a successful home business owner
Despite the speed at which the home business industry has grown, success remains very elusive for many. Here are 5 simple rules you need to observe when deciding what home business opportunity to go for. A strict adherence to these rules will...
Free Home Based Internet Business
Taking advantage of a free home based internet business can
afford you many benefits. There are not only the monetary
benefits, but lifestyle benefits as well. Whether lifestyle or
monetary, these benefits can be far greater than the...
Starting A Home Computer Business Is Still Smart
A home computer business can be one of the fastest, most inexpensive, and easiest way to enter the business world. If you have access to a computer with some basic software and an Internet connection, you may find the information we have to share...
Writing Your Affiliate Home Business Plan: Who, What, Where, When and Why?
Here’s a typical scenario: You are deciding to start a home business and suddenly everyone you know has his nose in your business, literally. What do you tell them? And how do you answer your own questions? What should you expect from the company...
"Yes You Can Make Money and Work At Home Doing It"
Are you looking at extra ways to make money. Have you considered
a way to make money is to work at home. You may even be
searching online for this by typing into a search engine "make
money work at home".
In these days, it's becoming...
|
|
| |
|
|
|
|
|
|
Refinance Your Home Mortgage Online
Copyright 2005 Jim Edwards
The largest financial obligation most people ever take on couldn’t escape the reach of the Internet. Home mortgage loans originated online comprise an integral part of one of the largest and most profitable aspects of the banking industry. Unlike many shifts in big business recently, this change actually seems to greatly benefit consumers by increasing competition and placing more financial control in the hands of homeowners.
To finance or refinance a home in the olden days (before the Internet), you needed to find a mortgage lender, broker, or banker who wanted to make a loan for you. Though mortgage lenders always wanted to make good loans, the process of gathering information to compare interest rates, points, and loan programs among lenders presented a tedious task for borrowers. Without a centralized information source for mortgage rates, loan programs and financial advice, most people just called a few banks and went with the lender that seemed to offer the lowest rate for the least discount points.
Now borrowers can access up-to-the-minute financial information and economic indicators online. Comparing rates and fees between lenders takes only the click of a mouse. Loan programs and mortgage calculators quickly figure the best strategy for everything from which loan represents the lowest cost over time to how much money a borrower could save by prepaying their mortgage on a monthly or bi-weekly basis. Financial tools available online truly empower any borrower with Internet access.
Though the Internet represents a faster and more hassle-free way to refinance your first or second mortgage, remember these important facts:
Loan Programs – Just because the
Internet makes the loan process easier doesn’t mean you should abandon common sense. Take the time to analyze which loan program best meets your needs based on the big picture of how long you’ll live in the house, the payment you can handle comfortably, and how much cash or equity the lender requires.
Fees – All lenders don’t charge equally. Many offer a lower interest rate, but make up the discount in fees and charges. Analyze costs between lenders by obtaining a list of all associated loan fees known as a “Good Faith Estimate”.
Service – Obtaining a loan online won’t do you a bit of good if you run into a problem and need to speak with a live human. Make sure your online lender maintains offline customer service.
Rate Lock-in – The lender’s website should clearly explain their interest rate lock-in period and policy. Don’t get lured in by a lender offering a lower rate and points only to find out the hard way that your interest rate lock expires before you can get the loan closed.
Loan Commitment – Find out from the lender’s site what legally binding documentation they provide to document the loan commitment once you get loan approval.
Though many borrowers use the Internet purely for research, record numbers now go online to apply and complete the entire mortgage process on the Web, while saving significant money and time in the process.
About the Author
Jim Edwards is a consultant specializing in internet mortgage refinance strategies and consumer home loan information. He is the author of "The TEN Dirty Little Secrets Of Mortgage Financing" at http://www.mortgageloantips.com/info.html and offers a free mortgage e-course at http://www.mortgageloantips.com/eclass.htm
|
|
|
|
|
|