How to get the Refinance Mortgage Rate you Deserve!!
So how do you get that low, unheard of interest rate that all your friends and neighbors brag about?
Well, all you have to do is tell your account executive (salesperson) what you want!
You see, account executives have a job to do. That job is to sell you on the highest rate and fees that they think you will buy. Just because an account executive (salesperson) tells you that you only qualify for one rate doesn't mean that it is true. Remember, in most cases, the higher your rate and fess the larger the commission that goes in your account executive's back pocket.
You must be tough with them! Let your account executive cater to you, and don't be afraid to call their bluff. Also, you have to shop around. Most companies will find a way to give you the rate you want if you find another company that is in the same ball park of that rate.
When shopping around keep the following in mind:
1. Always ask for an amortization schedule. This will show your payment, rate, and interest charges for the length of the loan.
2. Make sure to get both adjustable and fixed rate quotes. (the more quotes you have the better prepared you are)
3. Get everything in writing!!!!! Companies won't believe you if you simply tell them that a different company offered you a better rate.
4. Compare each and every quote and TAKE YOUR TIME. This is your home we are talking about. Make sure the mortgage is on your terms not someone else's.
5. Tell the account executive you want a tleast a 15 day guarantee on your rate and fee in writing.
6. Finally, make sure to look over the documents with your lawyer before you sign anything.
About the Author
Benjamin Ehinger has an extensive mortgage background and has studied the industry for many years. To learn more about Refinancing and Second Mortgages visit:
http://bandcdriver.tripod.com/second-mortgage.htm
Second Mortgage/Home Equity vs. Refinance
Why should you take out a second mortgage or a home equity line of credit instead of refinancing?
Well,………You Shouldn't!!
Why Not?
1. Second Mortgages usually have an interest rant that is twice or even three times as high as your first mortgage rate. You can refinance instead and keep a very low rate. In the long run a second mortgage will just cost you money in interest charges.
2. Home equity lines of credit are designed for mortgage account executives (salespeople) to sell you on using it like a credit card attached to your home. They will try to convince you to use it over and over again.
3. A refinance loan is better for the equity in your home. Very few companies will refinance your home at 100% of it's value without forcing you to take out a second mortgage. You don't want to use 100% of your equity because that means you no longer have that equity to fall back on in emergency situations.
4. Second Mortgages and Home Equity lines of credit are designed to provide account executives (salespeople) with another tool to sway you into putting another commission in their pocket.
5. Your equity is a precious thing and should not be used for unnecessary add ons or impulse buys. If you don't need it and there is even a slight chance you can't afford it, then don't get a second mortgage to buy it.
The only reason that I would ever recommend a second mortgage or a home equity line of credit is in an emergency situation. Only when there is no other option and you must take out a loan would I recommend either one of these options.
About the Author
Benjamin Ehinger has an extensive mortgage background and has studied the industry for many years. To learn more about Refinancing and Second Mortgages visit:
http://bandcdriver.tripod.com/second-mortgage.htm
Home Improvements – Making Decisions
If you have a family, planning home improvements should be a family matter. Still, you want to stick to ideas that work.
Ideas That Work
We've all seen families who get along well most of the time and families who are constantly at odds with each other. One common denominator among families who get along are homes that work for them. Let's talk about ideas seen more than once in homes that work. It may help you explore what will work for you.
Many families with school age children have a computer and homework area near the kitchen. It's often a computer desk and the breakfast area table. This is usually sandwiched between the kitchen and family room, and all three areas are open to each other. It's an easy area for parents to make themselves available to help and supervise the children while they themselves perhaps cook, talk, read, or have a cup of tea (or other beverage) before or after dinner.
Family rooms are also great for TV, movies, and computer games. A finished basement provides an ideal place for a "home theater" for the same sorts of things, but supervision becomes tougher.
Unfinished basement areas can be just what's needed for a workbench, an artist's studio (especially walk-out basements with big north facing windows), a sewing area, a place to practice a musical instrument, a place to refinish furniture, a potting bench for plants, a place for the pets when the family has guests. I've seen all of the above work well alone and in a variety of combinations.
Many modern homes have a "formal living room" that is too small to really work as a living room. It can be set up and decorated as a library or study and be the perfect place for a parent to do some serious work and not be interrupted too frequently.
Master bedrooms are getting larger and larger. They often have a small seating arrangement included in their design. This can be a parental retreat for quiet conversation.
Master bedrooms can also provide a quiet corner for a computer desk and work area. If looking at work space isn't relaxing to you, you can always shield it from view with a decorative folding screen.
Don't forget the importance of family dinners. Studies show that children of families who have dinner and conversation together several nights a week, week in and week out, tend to be more successful and happier than those who don't. It can be at the kitchen table, in the breakfast area, or in the dining room, but plan for it and make it happen if you value the success and happiness of your children.
Every home is unique and so is your family. When improving your home, look for ideas that work.
Raynor James is with FSBOAmerica.org - a FSBO homes for sale by owner site. Visit our "Sell My Home" page to list your FSBO Home or visit our home buying page to see fsbo homes for sale.
