Educate Yourself Best Mortgage Advice

by Scott from Delaware, OH USA

To educate yourself is the best mortgage advice My best mortgage advice is to educate yourself before signing on the dotted lines. When you decide to get a mortgage, it is so important that you are educated on all the facts.



Read about and research all the different mortgage options and pick the best one for you. The home loan that I chose was a 30 year fixed rate mortgage with zero money down. That, to me, was my best option at the time that I purchased my home.

I would only recommend fixed interest loans to anyone. If you chose to go with a non-fixed interest loan, you may be shooting yourself in the foot with really high interest later on in the loan.

I would also recommend getting the shortest loan period you can afford. I wish I could have afforded the 15 year fixed rate mortgage as you pay less interest with this loan and you own your home free and clear much sooner.

Most importantly, education is power. If you know all the secrets of the trade, you are much less likely to become a victim of unethical lending practices, like those we have been hearing so much about in the news lately.



Riveting Fixed, Hybrid, and Adjustable Rate Mortgage Help

Comparing Fixed and Adjustable Rates - Refinancing? Buying a house? Get current rates right here.

Get the lowest payment with this best fixed rate mortgage plan yet pay it down quickly.

The 15 year fixed rate mortgage will save thousands plus you'll be mortgage free after 180 payments!

What would you do with an extra $87,789? Meet the 20 year fixed rate mortgage.

Introducing the 25 year fixed rate mortgage combining security with a lower interest rate.

I crown the 30 year fixed rate mortgage King Of Mortgages!

Meet the 40 Year Fixed Rate Mortgage when fast mortgage pay offs aren't your cup of tea.

Are adjustable mortgage rates good or bad? It depends on your circumstances.

Plan for changes to your adjustable rate mortgage.

If the cheapest fixed rate mortgages will save you money, why pay for more?

Are interest only mortgage loans hidden adjustable rates?

Ask Kate About ARMs - Get an answer about mortgages that adjust.

ARM Ask And Answer - Questions about adjustable rate mortgages, each with a individual answer from Kate.




Comments for Educate Yourself Best Mortgage Advice.

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Regarding A Crackdown on Rescue Schemes
by: Jill

Have you seen in the news about cracking down on rescue schemes?

A Crackdown on Rescue Schemes

I was thinking that, in my view, to not get
"taken" you have to assume if you don't understand something or things don't seem right that is the "responsibilities" of the mortgage representative to make sure you understand and can agree to the terms.

It is a test of the lender's competence, not the borrower. If they cannot make you understand then MOVE ON.


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