Smart Mortgage Shopping - 3 Steps to Take
Most people wouldn't just purchase the first car they look at, so why would shopping
for a mortgage be any different? New would-be homeowners
are looking for ways to simply just secure financing that they forget that they are the ones in control
of their terms.
To help
you get the best mortgage deal for
your current financial situation and for your future, here are three steps you
will want to take.
Before you can take advantage of any of these steps,
it will help if you to gain a basic understanding of the mortgage process and terms you might run across as you begin your search. There are a number of helpful books and websites you might want to look into that can help you begin to find your footing in this maze of mortgage-speak.
First of
all, you need to look at the lending information from several different lenders. You
have a number of options for borrowing money - credit unions, banks, thrift institutions, and mortgage companies. So, with those places in mind, you will want to start asking around for the amount of money that you will want to
borrow to see
what offers you might get. And while a mortgage
broker can do this
footwork for you, they will need to be paid for their services, which
may not be something you want to pay. However, their services are worth it due to their experience and how many
lenders they can access.
The next
step in finding a mortgage is to start asking these lending
institutions what kinds of terms they can offer you. The most important term that you will
come across is the rate of interest. When you are
purchasing a home, you will be paying not only money for the house itself, but also for the borrowing of the money - interest. This allows the lender to make money from your transaction as most interest is calculated over the time period and the amount of the loan. Thus, the longer and bigger the loan, the more money they will make. But since you're interested in paying for a home and not the bank, you will want to start looking for the lowest rates you can.
You will find that rates are divided into fixed and adjustable. You will want to make sure that the lenders are up front about how current their latest posted rates are. Note that fixed rates mean that your mortgage payments will not change, while adjustable rates will make your monthly payment vary. In addition to the interest rate, you will want to get a thorough explanation of the points and the APR associated with the lender to get a comprehensive idea of what a loan from them will entail.
The third step in shopping for a mortgage is often the most intimidating for the borrower and that's negotiation. You have a right to negotiate for the terms that you want, though you might not get them. It will help as you are looking at the various lending institutions if you begin to create an 'ideal' mortgage plan in your head. That
way, you can talk to other lenders about what other institutions have offered you so that they can match that price or reduce their rates to attract your business.
You are in the driver's seat when it comes to your mortgage, so be sure to speak up when you think something is too high or ask for an explanation of every number that you see. If you're not happy, you can always look elsewhere for a lender.
Grant Eckert is a writer for ShopRate.com. ShopRate.com is a leading provider of
http://www.ShopRate.com Mortgage Quotes | Mortgage Rates
The Constitution For Nitwits (ie Ron Paul Supporters)
I will freely admit that I did a bad, bad thing last week. Well, it wasnt a really bad thing unless you were one of those that fell for it I guess. What did I do that was so bad? I set up the Paulbots. Yes, evil rotten me, I know.
When I wrote Earmarking Our Way to Oblivion I purposefully left out any mention of Ron Paul even though I knew he was just as dirty as all the rest. See, Mr. Pauls own earmark fetish was certainly no real secret to anyone paying attention and with enough desire to dig a little. But the Paulbots were quick to comment about how because of the corruption that earmarks bring and how that they many times violate the Constitutional powers of Congress that this is exactly the reason why we needed Ron Paul.
Not a day goes by that supporters of Ron Paul arent out in droves proclaiming any conservative that does not support their candidate is an evil neo-con, trumpeting how Mr. Paul is a true constitutionist and is the only man qualified to be President. Well, I guess we now see how accurate their description of their own golden boy really is considering news that has really taken off in the last couple days about his own requests for earmarks.
It is no secret to those of us that are out there everyday taking fire from the Paulbots that when Ron Paul commands them to jump they not only ask how high, but also at what angle, what flavor of Kool Aid Mr. Paul would desire they bring him after they land, how many ice cubes he would like in said drink, what color he would like his house painted, how many gallons of gas he needs them to put in his car, what time he would like his wakeup call for the following morning, how he desires his eggs cooked and whether or not he wants them to polish his fine silver clockwise or counterclockwise. The answer to that last one is that Ron Paul demands they first polish it six times clockwise followed by a single counterclockwise finishing polish. Their loyalty to the illusion of their candidate as a savior of us all and as someone that actually holds the Constitution dear is admirable if not highly misguided and naive.
Now the Wall Street Journal and other sources have what Paulbots are robotically and predictably calling a hit pieces on their candidate. Of course I still question whether or not Ron Paul really can be considered a candidate when he barely cracks one percent in the polls. But that is another topic for another day. Anyway these hit pieces detail how Mr. Paul, supposedly a libertarian, has requested millions of taxpayer dollars for roles not delegated to the federal government by we the people. Hardly a libertarian stance. Hardly hit pieces. Simply the truth.
Oh ... well ... uh ... Ron Paul 2008! Hes still the man! Right Paulbots?
Last week the Paulbots were flooding me with comments about how we needed Ron Paul and about how I was right about the earmark problem. But this week I have particularly loved the responses by these same hacks to these new revelations and that have again flooded into my mailbox on cue since I blogged about Pauls own earmarks on Tuesday. They say things like, Well the money was going to be spent anyway! and, Its ok because he is just serving his constituents like he is supposed to, or boldly proclaim, there is nothing unconstitutional about Pauls earmarks! or my personal favorite, Well, yeah he requested the earmarks but he voted against them!
That last one makes me chuckle. Its a pathetic having your cake and eating it too argument that no true libertarian would embrace. Anyone with half a brain sees through this tactic as nothing but style over substance worthy of the staunchest liberals. Mr. Paul certainly understands that in the current corrupt Washington culture his earmark requests would pass even as he votes against them. He knows all he has to do is attach them to the spending bill in order to reap the benefits. A true libertarian would not even request them in the first place.
But rather than calling for his impeachment for violating the constitution, something I have done time and again for all politicians, regardless of party, that violate the Constitution, the Paulbots rush out to defend the man they have deemed as the one. Truth be damned! He really is a TRUE libertarian! Full ludicrous speed ahead!
It doesnt matter that they were out there in mass decrying earmarks just a week before. It doesnt matter that the Constitution is clear in Article I, Section 8 when it limits the powers of Congress to tax and spend on a concise list of things defined as the general Welfare. It doesnt mater if Ron Paul has requested federal money to deal with issues found nowhere in these federal powers from funding for shrimp to building hospitals to maintaining trolleys. None of that matters because ... well ... Ron Paul is da man! Praise the Savior of our Republic! Hallelujah! And how dare I and others take his name in vain!
Blind loyalty is never attractive. And it is often deadly.
The Constitution is simple. It allows for laws and spending on the only a short list of topics which are clearly stated and any libertarian worth their salt knows of James Madisons discussion of this in Federalist 41. The list that is there is the list. Thats it Mr. Paul. Thats it Paulbots. Nothing about shrimp. Nothing about trolleys. Nothing about most of what Pauls earmarks are spending money on. No amount of whining about Ron Paul getting caught with his hand in the cookie jar will change the facts. No amount of hurling slurs like neo-con or fascist or globalist at those that exposed Mr. Paul will make a difference in the truth. Such tactics dont work for liberals and they will not work for you.
Im sorry I entrapped you last week. But it is something you are going to learn from as you progress on in life. Principles are only principles if you are willing to put your money where your mouth is and always watch your own glass house before you cast the first stone.
Its so simple even a Paulbot can understand it. And I call on Ron Paul to be a true libertarian and draw up articles of impeachment against himself, convince his fellow Congressmen to approve the action and finally vote in favor of the action when the time comes to pay the piper.
But he wont. He wont because the fact is there are few true libertarians out here in the real world. We are a lonely bunch for sure. Even though lots of people envision themselves as such, when push comes to show they are at best nothing more than a bastard cousin; the liberaltarian. And that is why we are in trouble.
J.J. Jackson is a libertarian conservative and the owner and Lead Editor of the American Conservative Daily Blog and The Right Things - Conservative T-shirts & Gifts. His weekly articles can be read at Liberty Reborn.
