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The LendingTree Group offers a convenient way for their clients to comparison shop for a
loan in a secure, pressure-free environment right from this web site. We are a neutral
agent facilitating the buying and selling of real estate where the parties wish to
maximize savings and reduce transfer fees. You don't have to leave home, spend hours on the phone or jump
through hoops to get the best rates, because we are willing to do all the legwork for you.
With
LendingTree Loan Services, you'll save
time and money. Our nationwide participating lenders offer the best rates around, which
can add up to substantial savings over the life of your loan. We currently are offering
special fixed rates to mortgage holders with Adjustable Rate Mortgages (ARM). Lock in a
low interest rate for the entire loan period without worrying about rising prime interest
rates. First time home buyers also benefit from our lenders offering zero money down loans
and additional services geared to first time buyers. Their online questionnaire takes a
few minutes to complete and, based on what you tell them over 100 lenders will find a loan
that matches your needs....
Here's how the
LendingTree Group can help
you make smart financial decisions:
You'll Save Time: Fill out one form
online or at our office, one time and get free quotes from multiple lenders within a short
time. Getting pre-qualified, before shopping for a home, makes the seller respect your
price offers...
You'll Save Money: We know we can
find you the best rates... and guarantee the results can't be met by other online loan
qualification services....
Convenient: You can request quotes
anytime you wish, 24 hours a day, 7 days a week. Let the banks comptete for your loan...
you win!!
Easy: Comparison-shop with no sales
pressure, since the most likely lenders are competiting for your loans....
Informative: Obtain accurate and
reliable quotes without running from office to office or having lending Telemarketers
hound you with high interest rate offers with hidden traps.
Secure: Shop in privacy -- any
information you provide the trusted LendingTree Loan Group remains completely
confidential.
Your financial health - your credit and home
affordability....
 Is now the
right time financially for you to buy a home? Would you rate your financial picture as
healthy? Is your credit good? While you can always find a lender to lend you money, solid
lenders are more skeptical if your credit history is not good. Generally, a couple of
blemishes on a credit report will make you a good credit risk and could qualify you for
the lowest interest rates. If you have more than a couple of blemishes on your report, we
have lenders who may still provide you with a loan, but you may just have to pay a higher
interest rate and fees.....
Some say that you should refrain from borrowing as much as you qualify for because it is
wiser not to stretch your financial boundaries. The other school of thought says you
should stretch to buy as much home as you can afford, because with regular pay raises and
increased earning potential, the big payment today will seem like less of a payment
tomorrow. This is a decision only you can make. Are you in a position where you expect to
make more money soon? Would you rather be conservative and fairly certain that you can
make your payment without stretching financially? Make sure that whatever you do, it's
within your comfort zone.
  
To determine how much home you can afford, use some
of our "home affordability" mortgage calculator. Good calculators will give you
a range of what you may qualify for. Then call a lender. While some may say that the
"28/36" rule applies, in today's home mortgage market, lenders are making loans
customized to a particular person's situation. The "28/36" rule means that your
monthly housing costs can't exceed 28 percent of your income and your total debt load
can't exceed 36 percent of your total monthly income. Depending on your assets, credit
history, job potential and other factors, lenders can push the ratios up to 40-60% or
higher. While we're not advocating you purchase a home utilizing the higher ratios, its
important for you to know your options....
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Where the money for
the transaction will come from.
Typically homebuyers will need some money for a down payment and closing costs. However,
with today's broad range of loan options, having a lot of money saved for a down payment
is not always necessary - if you can prove that you are a good financial risk to a lender.
If your credit isn't stellar but you have managed to save 10-20% for a down payment, you
will still appear to be a very good financial risk to a lender.
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The ongoing costs of
home ownership.
Maintenance, improvements, taxes and insurance are all costs that are added to a monthly
house payment. If you buy a condominium, townhouse or in certain communities, a monthly
homeowner's association fee might be required. If these additional costs are a concern,
you can make choices to lower or avoid these fees. Be sure to make your realtor and your
lender aware of your desire to limit these costs.
If you are still unsure if you should buy a home after
making these considerations, you may want to consult with an accountant or financial
planner to help you assess how a home purchase fits into your overall financial goals. We
have recommendations for qualified local experts in reality law, appraisals, financial
management, home improvement and repairs, heating & Air conditioning, landscaping and
other professional services revolving around buying or selling your home. |
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Save Money On Your
Mortgage or Refinance loan
Get a FREE Low Rate Mortgage Quote Now! |
Save time and money by comparing rates from the top nationwide
lenders. One short and easy form allows you to shop for the best rates. All credit types
OK.
Refinance, Home Equity and New Home Purchase -- Lock in a today's low rates and save big on
your monthly payment. FREE, No Obligation. |
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Type of Mortgage -Your loan
application asks you to specify the type of mortgage you want. Your lender will most
likely offer you a variety of fixed-rate or adjustable-rate mortgages with various
repayment terms. There are also balloon mortgages, FHASM and VASM
loans, and many others.
It’s advantageous to learn about
the various types of mortgages available to you before you apply for your loan. In fact,
it makes a lot of sense to see what types of mortgage loans are available even before you
start the house-hunting process. The type of mortgage you choose will directly affect how
much house you can afford -- and the amount of your monthly mortgage payments.
If you bring a ratified sales contract
to your loan application interview, it may specify the type of financing you want. Your
contract to buy the house may depend on your ability to secure or receive a commitment for
the type of loan you specify. If you are coming to your loan interview without a specified
type of loan in mind, be sure you’ve asked OKayLoans.com & Assoc. to research
beforehand to inform you which type of financing is best suited to your lifestyle and
budget.
Mortgage Amount -This
is the amount of money you will borrow. Your requested mortgage amount will be based on
the purchase price of your new home and the amount of money you will be putting toward a
down payment. Before actually applying for a loan, many borrowers find out how much they
can afford by getting pre-qualified by a mortgage lender.
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