Monthly Archives: March 2013

Biggest Mistakes Of First Time Home Buyers

There are several potential blunders you’ll want to side step as a first time homeowner. Three of the biggest mistakes that many first timers make are:
    1. Purchasing the wrong home – Make sure the home you want is one that you can realistically afford, is located in a good area, and has all of the features and benefits that are the most important to you. It is highly unlikely that you will find a home that will have absolutely everything you want and fit in your price range, so be prepared to make compromises. It’s the difference between knowing what you must have/need and what you can live without. Things to think about include, but are not limited to:
      • The number of rooms and bathrooms you require for a comfortable and manageable living space.
      • The safety of the neighborhood.
      • How busy are the streets?
      • Etc.
Don’t make a fast decision. Even if you fall in love with a home and everything seems to fit, view it from every angle with a critical eye. Some homes really are too good to be true.
  • Altering your credit score prior to closing – Once you have completed your loan application, do not make the huge mistake of making purchases on credit or with a credit card. Although it may be tempting to make big purchases for your new home, such as buying furniture, appliances, or other equipment, you need to put buying on hold until after closing.
  • Making purchases with credit can alter your credit score and lead to an underwriter cancelling your loan. On the other hand, in the event your loan contingency has been removed or expired, in addition to losing your home, you could forfeit your earnest money deposit. The bottom line is: don’t buy on credit before closing and keep your credit score the same, and, if possible, work on improving it.
  • Not being upfront and honest with your real estate advisor – Your advisor, whether it is a real estate agent or a real estate lawyer, has a fiduciary obligation to represent your best interests. Real estate professionals work for you and with you, to help you obtain the home that is the most ideal for you. However, they can’t help you if you withhold information from them. You need to trust your agent and be open and honest with them about what you are thinking and your feelings about buying. Even if you have thoughts about backing out of a deal bring this to your agent’s attention. If you do not like your advisor or do not have confidence in them, find another one to represent you who you like better.
The bottom line is that there are lots of factors you need to consider, professionals you need to consult, and plenty of research to be done if you want to avoid making big mistakes that could cost you money and even your home.
Anthony Myers is a seasoned entrepreneur and mortgage industry veteran with over 15 years experience in managing and loan consulting. Prided in establishing successful Mortgage Consulting teams that create and foster long-term relationships with clients. Contact

How Can I Find Current Mortgage Refinancing Rates?

mortgage rates

Do you currently have a mortgage on your home that has extreme rates that you struggle to pay every month? Are you up to your neck in debt when it comes to credit card bills and other living expenses in addition to your mortgage? If so, then you may be interested in learning more about current mortgage refinancing rates. Many people that struggle with their current expenses that rotate around their mortgage will choose to acquire new home refinance rates in hopes of lowering their month-to-month bills. The good news is that this process is simple to get started with.

Don’t fall under the misconception that there is no hope for you and your current financial situation. Don’t be misled into believing that bankruptcy is your only option. In fact, you should be aware that filing bankruptcy is much harder today than it was a year ago. That is because there are so many options that one can rely on before bankruptcy can truly be considered. That is why you should focus on obtaining mortgage refinancing advice so that you can truly get a clear picture of what your options truly are.

The good news is that you can acquire the best information on mortgage refinancing rates from the privacy of your home and don’t even have to visit a lender in person. There are numerous online resources that you can take full advantage of in order to acquire the very best home refinance rates. There are numerous websites that are committed to providing consumers with the latest information in regards to mortgage rates and that can assist you in determining which options are available to you and which ones you actually qualify for.

The problem that you will experience when looking for an online resource that provides refinancing rates and information on refinancing is determining which one you should make use of based on your current situation.

The first thing that you will want to do is determine if the resources you are considering actually offer refinancing information based on the state and country that your reside in. Many such websites are limited by the type of advice that they offer. They generally focus on the state and country wherein their business is located. However, with a little research you should have no problem finding an online resource that can provide you with this type of information based on your area.

You will want to focus on these types of resources as laws vary from one state and country to the next when it comes to how refinancing works when concerning a mortgage.

The next thing you should consider is if you have other bills that you would like to lower the payments on as well. Many online resources of this type can also provide you with general debt consolidation information. This will allow you to kill two birds with one stone without having to rely on multiple resources to acquire the information that you require.

One online resource of this type you can rely on is Peak Home Loans. Are you in search of current home refinance rates? You can find the latest mortgage refinancing rates at Peak Home Loans.

Understanding How Home Refinance Rates Work

Home refinance rates change at a rapid pace. Rates that you hear today could drastically change within a few days. This can often times make it quite difficult for a homeowner to determine when the best time is to refinance their home. However, before you get started in the world of refinancing you must have a clear understanding of exactly what it is and how it works.

In short refinancing is where you seek out a replacement for a debt that already exists. Let’s say that you took out a mortgage on your home with very specific terms. You can refinance your home and pay off your preexisting mortgage and acquire lower refinance rates. The problem is that refinancing can vary from state to state. That is why you must invest a great deal of time to acquire realistic and professional mortgage refinance advice based on your specific location. That way you can determine what is truly available to you.

When refinancing your home there are several factors that will be taken into account. These include elements such as inherent risk, the stability of politics, how stable our country’s currency is, current banking regulations, and the general credit rating of the nation to name a few.

There are several reasons why a person may choose to refinance their home. However, the most common reason is to simply acquire lower interest rate. This allows a homeowners monthly mortgage payment to be lowered. This type of refinancing is great for those individuals that are struggling to maintain their current bills due to the extent of their current mortgage rates.

Others will choose to refinance in order to combine several debts that they currently hold into a single loan. Many people do this in order to get a handle on all of their outstanding bills without having to resort to filing bankruptcy.

When seeking out home refinance rates and viewing mortgage refinance advice you will discover that many companies will insist that you can’t put your preexisting mortgage into a debt consolidation program with other bills that you currently have. However, that is untrue. There are numerous high profile companies that can easily assist you with this type of debt consolidation. You just have to seek them out through diligent research.

The best way to determine your options is to determine the extent of your debt and to determine if current refinancing rates for your home are less than what you are currently paying. You will then need to make use of a resource that can provide you with all the information that you need in order to make an informed decision as to what you can realistically do with your current mortgage or other bills.

Peak Home Loans is a leading online resource that you can take advantage of to acquire information on home refinancing. They can assist you in determining what type of refinancing will work the best for you and can assist you with getting started in the process immediately.

Mortgage Interest Rates Rise To Ten-Month High

mortgage rates
Mortgage interest rates rise to 10 month highs as employment data is better than expected.  As well as jobs here in the US, the European economy is stabilizing.  This combination will continue to push rates higher.  This could not bode well for the emerging US housing market.  Read more below…

Current Mortgage Rates for Friday, March 8, 2013 – Mortgage Rates & Trends (blog)

Mortgage Rates & Trends (blog)Current Mortgage Rates for Friday, March 8, 2013Mortgage Rates & Trends (blog)home prices Mortgage rates are getting destroyed following this morning’s stronger than anticipated jobs report. Mortgage backed securitie …

Wells Fargo Current Refinance and Mortgage Rates Today – Press Blue

Press BlueWells Fargo Current Refinance and Mortgage Rates TodayPress BlueWells Fargo Current Refinance and Mortgage Rates Today Standard 30 year fixed rate loan interest rates at Wells Fargo (NYSE:WFC) start at 3.625% and APR of 3.963% today. The FH …

Today’s Mortgage Rates: Bank of America Home Loan Interest Rates – Southern Daily Press

Southern Daily PressToday’s Mortgage Rates: Bank of America Home Loan Interest RatesSouthern Daily PressToday’s Mortgage Rates: Bank of America Home Loan Interest Rates We have noticed some increases today regarding Bank of America’s (NYSE:BAC) home …

Chase Bank Current Mortgage Rates Today – Eagle’s Rant

Eagle’s RantChase Bank Current Mortgage Rates TodayEagle’s RantChase Bank Current Mortgage Rates Today The best 30 year fixed rate mortgage interest rates start at 3.625% at Chase Bank (NYSE:JPM) today with an APR of 3.706%. Shorter term, popular 15 …

Latest Mortgage Rates: BB&T Home Purchase and Refinance Mortgage Rates … – Southern Daily Press

Southern Daily PressLatest Mortgage Rates: BB&T Home Purchase and Refinance Mortgage Rates …Southern Daily PressLatest Mortgage Rates: BB&T Home Purchase and Refinance Mortgage Rates Today Similarly to Bank of America (NYSE:BAC), another major mort …