Discover The Best Value Mortgage For Your Money

Discover The Best Value Mortgage For Your Money

Discover the​ Best Value Mortgage For Your Money.
A mortgage or​ loan varies according to:
The amount borrowed;
The interest rate;
The type of​ rate (fixed or​ variable);
The term (length in​ years) of​ the​ loan;
Discount rate for X number of​ years;
Deposit (downpayment);
Associated fees (broker,​ origination,​ prepayment etc.);
Local or​ national taxes;
Insurance required by the​ lender.
Your best way to​ find a​ sub-prime lender is​ to​ search on​ the​ internet .​
The internet allows you​ to​ find and compare multiple lenders so you​ can get the​ best rate .​
Don't get too caught up in​ comparing APRs and various special offers; what's on​ the​ site may not reflect what _you_ will get if​ you​ apply .​
Everything depends on​ your financial circumstances.
How is​ your credit rating?
What is​ your credit _score_ (the in-house lender's rating of​ you)?
Do you​ have a​ bank account,​ and for how long?
How long have you​ been in​ your current job?
How much do you​ earn per year?
What outstanding debts do you​ have?
What are your monthly outgoings?
Do you​ have enough money for a​ fat deposit?
This latter criterion is​ crucial .​
If you​ can save up to​ 15-20% of​ a​ property price as​ a​ down-payment you​ become startlingly more attractive as​ a​ borrower .​
Because if​ you​ default the​ lender can always sell the​ house,​ take a​ hit on​ the​ sale price,​ and still make a​ profit,​ because you've already paid a​ fat wad upfront for the​ place.

TIP: Only pay up-front fees to​ well-known or​ highly recommended lenders .​
While most lenders are reputable,​ it​ is​ always best to​ be cautious.
If I​ were looking for online mortgage loans,​ I'd widen my horizons .​
What do you​ want? Money .​
How does one get more money? By:
- Getting a​ second job or​ paying hobby;
- By scrounging from friends or​ family;
- By selling an​ unnecessary asset,​ like a​ flash car;
- Getting a​ different job that pays better;
- By saving what you've already got - no holiday,​ give up cigarettes and booze for a​ while!
It's a​ small amount of​ initial hardship,​ versus years of​ fretting over barely-manageable monthly mortgage payments .​
Money and sex problems are two things that put a​ real strain on​ a​ marriage or​ partnership .​
The second is​ easy to​ fix,​ and the​ first not too hard either! An extra hundred beer-vouchers in​ your pocket per month can make all the​ difference.
Any online mortgage web site should have a​ Privacy Policy .​
What are they going to​ do with your data once they get it? in​ practical terms,​ you​ are on​ umpteen databases simply by existing .​
You can ease your aggravation with the​ cold calls by saying I'm sorry,​ I​ don't want any financial products at​ this time,​ thank you,​ good day,​ and hanging up,​ four seconds into the​ conversation .​
Puts them on​ the​ back foot .​
Polite,​ but swift and direct.
Something to​ look out for in​ any mortgage web site is​ how old the​ site is​ .​
is​ it​ a​ johnny-come-lately,​ or​ has it​ been around for years? Another thing is​ whether it​ has a​ physical bricks-and-mortar address: P .​
O .​
Boxes or​ 'Suites' don't count .​
Are they regulated by the​ Financial Services Authority? Do they have a​ Consumer Credit Licence?

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