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This category is full of GREAT information that will help you become not only comfortable, but also smart on the Mortgage process. For specific information see the categories in the left menu bar.

To give you a jump start, we have included a list below of the top five ways to save tens of thousands of dollars on your mortgage.

Five Ways To Save $10,000's on Your Mortgage

Savings Tip #1 = Make Bi-Monthly Payments
By simply changing your payment frequency from once a month to half a
payment every two weeks through an automatic process!

By converting a monthly mortgage payment of $1,000 to $500 on a Bi-Weekly
basis, you'll make 26 one half payments over a year's time. That's the
equivalent of 13 monthly payments.

Here's an example:
$100,000 Loan at 8.5%
30 Year Loan Mortgage Savings Program
Current Payment $1000 PITI $500.00 Bi-Weekly
Paid Off In 30 Years 22.6 Years
Total Interest Paid$ 176,809$ 125,075
YOU SAVE $ 51,734

The Result!

You'll save an amazing $51,734 and own your home many years sooner!
This is a guaranteed simple way to save tons of interest.

Savings Tip #2 = Consider a 15 year mortgage rather than a 30 year mortgage
Although your monthly payment may be higher, you can save tens of thousands of dollars in interest charges by shopping for the shortest-term mortgage you can afford. On a $100,000 fixed-rate loan at 7% annual percentage rate (APR), for example, you will pay over $75,000 less in interest on a 15-year mortgage than on a 30-year mortgage.

You can save thousands of dollars in interest charges by shopping for the lowest-rate mortgage with the fewest points. On a 15-year $100,000 fixed-rate mortgage, just lowering the APR from 7% to 6.5% can save you more than $5,000 in interest charges, and paying two points instead of three would save you an additional $1,000.

If your local newspaper does not periodically run mortgage rate surveys, call at least six lenders for information about their rates (APRs), points, and fees.

Savings Tip #3 = Mortgage Refinancing
Consider refinancing your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and plan to keep the new mortgage for several years or more. Ask an accountant to calculate precisely how much your new mortgage (including points, fees and closing costs) will cost and whether, in the long run, it will cost less than your current mortgage.

Savings Tip #4 = Buy down the rate
The seller or builder, or through innovative pricing, can help you buy down your mortgage rate for one, two, or three years.

Savings Tip #5 = Consider an ARM If you do not plan on being in the home for more than 5 years
When you start shopping, take a look at how long you expect to be in the house, or have that particular mortgage. Maybe you expect to move-up after you've built some equity in the house. Maybe you plan to refinance in couple of years to pull out some equity to help pay for college tuition, or a new car.

Think beyond the 30-year, fixed-rate loan. "It's the most expensive option," said Chris Doolittle, a loan officer in Santa Rosa, Calif. Most people buy a fixed-rate for 30 years of stability, and never use more than a few years of it. "Why pay for a part of the yield curve that you're not using?" said Robert Van Order, chief economist for Freddie Mac.

Consider an ARM
An adjustable-rate mortgage (ARM) starts with a considerably lower interest rate, but then adjusts every year. This type of loan moves a little bit of the risk away from the lender, and the lender rewards you with a lower rate.

To protect you from a catastrophic increase in rates (such as when we experienced double-digit inflation during the late 1970s), ARMs are capped to rise not more than two percent in any year, and not more than five or six percent for the life of the loan.

Fannie Mae's weekly survey of mortgage rates released Thursday showed that rates on 30-year, fixed rate mortgages.

Looking back at 2007, interest rates for 30-year mortgages averaged 6.125 percent.

Take out a Home Improvement loan and make those cosmetic changes that you've been talking about. In most cases, making home improvements increases the value of your property. Home Improvement Loans!

"No Income Verified" Debt Relief Programs - Is your income difficult to prove? We have debt consolidation mortgage loans that do not require the standard income documentation. (like W2's)

Do you have Less-than-perfect credit? - We specialize in debt consolidation loans even if your credit is in "the rebuilding phase".

Bankruptcy or Foreclosure - Even if you've had a bankruptcy, or foreclosure in the past, we will do our best to get you qualified for a debt consolidation loan.

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