Home Loan Interest Rate Comparison

I'm looking for suggestions for a good place to ask for a loan pre-qualification purchase a home. We want to ensure we get the best rate, but do not want to have multiple credit checks on our credit. We have excellent credit, so it will not be a problem. I just want to make sure we get the best price for a fixed rate mortgage of 30 years with low closing costs. We found the house we want to make an offer. We just need our prior approval before we can make this offer. I do not want the tree ready, because they have more credit checks on your credit card and I looked online comparisons of interest and they are very limited. I know that somewhere out there that we can find a lower interest rate. Any help will be greatly appreciated.

Some tips when shopping for a mortgage
1. When comparing lenders, make sure they offer loans FNMA. As your credit is good, makes no sense to talk, even with a lender to risk, for example, Ameriquest.

2. SHOP RATES ON the same day! Rates change daily, so if you call a lender on Monday and then call Lender B on Tuesday, you do not get a true apples to apples comparison. When I was a loan officer, it happened a little when I get calls from shopppers.

3. Make sure you compare the same products. Again, had this happen a few times where the borrower has called me a quote for a 30 year, and when he said he was offered a lower rate, it turns out it was one year 15.

4. Make sure that all lenders quote a rate of 0 points. A point is a right to buy down the interest rate. Also, make sure there are no setup fees. This charge, when charged, is 1% of loan amount.

5. Use the jargon that lenders use. When you request a quote, ask "how is your nominal rate on a 30 year fixed?" The word "by" the lender has to speak for "no points." By using the word little, they know you've done some research.

5. Too many credit inquiries hurt your score is a thing of the past! Read this article on bankrate.com and see No. 4 of the credit report myths 11. http://www.bankrate.com/brm/news/debt/de ...

Good luck!

You can obtain your own credit report free (link on my site) and get your credit score. This is useful to loan officers during the transition you selected and it does not hurt your score or to show as an investigation when the shooting yourself. I am happy to answer any additional questions, including details of interest rates right.

Provide details kishaloy_bhowmick@yahoo.com and you return soon.
regarding,
Kish
480.751.4125
Loan Officer

Be sure to check out the site below. This is very informative on the rates. If you like what you see, contact me and I will help to fund and work with you on an individual basis to ensure an easy purchase.

Sincerely,

Jon