Home Equity Mortgages – get the best quote online for your mortgage financing
January 23, 2018
Home equity loans and mortgage company calculators for checking loan rates on first and second mortgages are available online. Mortgage brokers and benchmark lending specialists in the USA provide quotes for best interest rates, 125% mortgages or reverse mortgages.
Your home is probably your biggest investment. Even at the best interest rate, for every $100,000 you borrow at a 25 year amortisation rate (years to pay the entire loan) you will pay back $171,000, not including refinance fees and other charges. You can cut your mortgage cost if you shop for the best mortgage rate and make extra payments, especially early in your mortgage term, because extra payments come directly off the principal amount of the loan. We have a mortgage calculator here to find out what your payments will be and total cost of your mortgage.
How you present your financial information can make a difference in the amount you can borrow, and the best interest rate you can get. Your bank or credit union can match the best mortgage rate from other sources, but you have to know what that rate is and ask for it! Get information on how to fill out your mortgage application here. Get a quote for the best rate here. Mortgage Brokers work for the customer, not the bank. You may find the best interest rate with one of our Mortgage Brokers here.