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17
Dec

How To Choose The Best Mortgage Company

Written by admin. Posted in Mortgage broker wa, Mortgage rates, Seattle mortgage company

The National Association of Realtors report that 35% of those looking for a home are first time buyers. Whether you fall into this demographic, or have purchased a home in the past, you may still have questions about mortgage lenders, and current mortgage rates. It’s estimated from a 2016 study that 59% of homeowners wish they could have a better understanding of their mortgages. It is easy to understand this, as many different types of loans, and mortgage companies exist for you too choose from. While talking directly to a mortgage company can be a good source of up to date mortgage information, here are a few things to use as a starting point.

Mortgage Rates and Payments

How mortgage rates work is something that many people don’t fully understand. A good rule of thumb is that a higher rate will mean more money spent over the life of your mortgage. For example, a $300,

09
Nov

Tips for Choosing the Right Mortgage

Written by admin. Posted in Mortgage broker seattle, Seattle mortgage company, Washington mortgage lenders

If you are looking to buy a new home, you may not realize just how important it is to know the up to date mortgage rates in your area, or the area you are thinking about moving to. One of the first things to consider is the interest rates; over the span of a 30 year mortgage, the interest may be higher than the actual base principle. Interest rates can have a huge impact on how much a house will cost overall, than the actual buying price. Understanding these numbers is imperative, so that you don’t end up paying more than you’d estimated. While a mortgage company can help explain the ins and outs of current mortgage rates in depth, here are a few things you can start out with.

Payments

As a rule, higher interest rates mean spending more money in the long term. For instance, if you take out a $300,000, 30 year mortgage with a 3.5% interest rate, you can expect to pay around $4