Submitted by: Phill Monroe

Finding a new home is a very exciting experience. But there is a lot of work that entails this kind of endeavor. Many home seekers find the reality of the job a tough task to handle by themselves. Enlisting the services of a mortgage broker may be the best option that will suit you and your family.

The stress of finding a new home is something that mortgage brokers have been so accustomed of. Mortgage brokers are usually the ones home seekers go to because they have everything planned out. They have access to different banks which is needed for you to get the best interest rates for your mortgages.

Being veterans on the field of housing, mortgage brokers can get and shoulder the stress off you in finding your new home. Here are some tips in finding the right mortgage broker for your needs:

Ask for information about you potential brokers.

The internet is a great source of information about anything and everything around your community. You can log into forums, threads or reviews about the mortgage companies you are planning to hire.

People usually have something good or bad to say about the services they get. And usually, the internet is the main outlet for these opinions. Search and find these sources of information and you can be amazed at how much of these will help you in finding the right brokers for your needs.

Find a mortgage broker who can close a deal fast.

The longer you deal with mortgage brokers means that the bill you would be paying them will also be bigger. Find a mortgage broker that can close deals fast. These are usually the ones that truly know what they are doing. 30 days is a good time for mortgage brokers to do their jobs for you.

As a potential home owner, you want a broker that can get you the best deals fast. They should already be in the know of the latest rates from every bank in proximity of your targeted place. This is crucial because interest rates are volatile numbers and can change frequently. Brokers who can give you the latest and lowest rates are the ones you should be hiring.

Find mortgage brokers that are easy to bargain with.

Finding the brokers that knows the lowest rates is not enough. In this economy, you look for the best deals you can possibly have. Mortgage brokers you can bargain with are a great advantage for your home buying plans.

This means that you find brokers who you can sit down with and explain your preferences. In turn, they must understand whatever it is that you want and from them on bargain with the deals they think would suit you the most.

Finding and moving into a new home is always a great experience. Mortgage brokers enable you to experience this and more. They give you what you want as long as you are able to find the best fit for your needs.

About the Author: Finding a new home is a very exciting experience. Get the best mortgage brokers by going to

mortgage broker

for information, location and reviews of

the best brokers

in the market today.

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By Bill Baskin

2 years ago, I decided to take out an adjustable rate mortgage on my Florida home as the Mortgage Broker convinced me this was the best financial instrument given my goals and cash flow position. I had only planned to be in the home for a short 3-4 year period, so the lower payment made sense at the time. I was assured I could refinance beforethe rate adjusted upwards if I decided not to sell my house. As time passed and my house did not sell due to slowing market conditions and declining values, my adjustable rate mortgage got closer to resetting to a new higher rate, I went out and started searching for the new perfect loan. Instead of a new loan, all I received was a shock. I could not qualify for a new loan!

Despite having perfect credit with an 800+ FICO score and even 30% equity in my home, as a self employed businessman I am unable to fully document my income to meet the new home loan underwriting guidelines so i was told. I have come to learn that even an ideal borrower like myself who has never missed paying a bill, has perfect credit, can’t qualify for a new mortgage in the current credit environment. As such, I’m now stuck in my adjustable rate mortgage that has now reset twice and my back is against the wall. I approached my lender hoping they would understand my situation and be sensitive to the fact my mortgage rate has gone up while my income has going down and leverage my good payment history with them. I made what I felt was a very strong appeal to the loss mitigation department of my lender, but after several months of negotiations with them I got nowhere. It was then that I stumbled upon www.consumerdebtadvoacate.net, a loan modification law firm.

After speaking with Greg one of the Case Managers at Consumer Debt Advocate, they were able to complete a financial analysis of my situation and determine that my loss of income due to economic conditions that have impacted my take home pay was indeed a true hardship that qualified me for loan modification help. I was also told that although my debt to income currently was not enough to qualify me for my current mortgage payment under my lenders own underwriting guidelines, I was still given this loan by the lender. After the CDA attorneys put my lender on notice that I was represented by Counsel, my lender became much more willing to address my case. We even came to find out by requesting my original loan documents that the mortgage broker I got my loan through inflated my income level without my knowledge, to get me to meet the qualifications in the stated income loan I acquired.

After speaking with my new CDA Attorney Marc Bonanni, he completed a financial analysis and predatory lending review of my situtation over the next week, and reviewed my case with me prior to submitting it to my lender. In some ways, the process was very much like applying for a new mortgage but without the gamesmanship. Everything was handled very professionally and I came away with a lot of knowledge about how things really work on the lending side. After 45 days of haggling with my lender, Attorney Bonanni was able to get my rate lowered by 2.5% to a new 6% 30 year fixed rate loan and I can now afford to make my payments and not go late on my mortgage.

I would imagine many people out there are in the same boat I was in or worse in regards to their adjusting mortgage rate and who need help avoiding foreclosure by modifying their loan. Go out and do your research and make sure you are hiring an attorney, not the same mortgage broker who put you into that bad loan as there are many non attorney companies calling themselves ‘Attorney based’ or “Attorney Backed’ that are fronts for unscrupulous mortgage brokers looking to make a quick buck I found out. After shuffling through the websites of several companies I retained a legitimate loan modification attorney and had tremendous success with him negotiating my mortgage to a new payment I could afford.

About the Author: Bill Baskin is a nationally recognized expert on Mortgage, Credit, Automotive, and Debt topics, having been a quoted source on a variety of newspaper, radio, and television pieces. He currently writes for consumerdebtadvocate.net on consumer education pieces.

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Available online are several types of mortgage calculators based on use. As market competition continued to become stiff, brokers and lenders tried to become innovative when it comes to their approach to attracting customers. One innovation they came up with is the mortgage calculator. In an effort to push ‘transparency’ on the computation process, they created different types of mortgage calculator that would allow customers to estimate the total tag price of the loan product they seek. As time passed on, these calculators grew more complex in the sense that they become more precise with their computations. Now, almost all mortgage websites host mortgage calculators.

Among the most popular mortgage calculators found online are the borrowing power calculator, Lenders Mortgage Insurance (LMI) calculator, variable vs. fixed rate calculator, extra repayment calculator and the basic home loan repayment calculator.

Borrowing Power Calculator: This mortgage calculator helps consumers determine the loan amount they can comfortably borrow (hence the borrowing power). By knowing a certain range of loan amounts that you safely borrow based on how much you earn and spend every month, you can avoid committing the mistake of borrowing outside your means.

Lenders Mortgage Insurance Calculator: Banks and non-bank lenders typically allow their clients to borrow up to 80% of the property’s overall amount. However, there are instances when the borrower needs to borrow beyond the allowed limit, sometimes even up to 100% of the property’s full purchase price. This prompts the lender to oblige the borrower into paying for the Lenders Mortgage Insurance, which will serve as the lender’s protection against probable financial loss in case the borrower fails to pay the mortgage. Using the LMI calculator, you’ll be able to figure out the lowest premium should you be able to secure an LMI waiver or discount.

Variable vs. Fixed Rate Mortgage Calculator: During the initial phase of the mortgage selection process, you will probably be stuck between getting a fixed rate loan or a variable rate loan. The variable rate vs. fixed rate calculator allows you to compare your expenses in payments in relation to the official interest rates and the type of mortgage you choose between the two.

Extra Repayment Calculator: The extra repayment calculator is one of the simplest types of calculators out there. This is used to compute the savings you’ll be able to make if you decided to come up with additional payments on top of your regular monthly repayment. In short, this calculator gives you a glimpse of just how your extra payments will affect your financial flow.

Basic Repayment Calculator: The basic home loan repayment calculator allows you to simplify your approach to mortgage decision-making because it gives you the ability to estimate your actual mortgage repayments for a particular home loan.

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For more information regarding Home Loan Repayment Calculator, Please visit Cashbackmortgage.com.auAuthor: Adley Smith