Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Four Things You Need to Understand when It Comes to Banking

By Justin Bill Subscribe to RSS | May 3rd 2012 | Views:
loading
 
  



Imagine you’re about to move into a beautiful home in either Houston or Huntington, Texas. Or, you find the local bank’s deposit account too juicy to pass. You’re considering getting a mortgage loan or opening an account with them.

Who can blame you? While Huntington has one of the lowest poverty lines throughout the state, Kiplinger’s Personal Finance Best Cities of 2008 lists Houston in its top ranks for its economy, reasonable living costs, and quality of life. While those allow many citizens to afford getting either a mortgage or a bank account, you might want to hold that thought for now. You first need to understand a few things about banks.

High-Balance Accounts Suddenly Drop Yield

It’s tempting to do business with a bank advertising a high-yield deposit account. What you need to know is that some banks may switch you off the plum yield once your balance reaches a threshold like, say, $30,000. Be sure to understand the account’s terms, especially if you’re looking to maintain a big balance with them.

Some Tellers Get Fees for Investment Products

You’re probably wondering why it feels like the loan officer is pushing you into an investment product while inquiring about the mortgage loan. They usually get a commission for doing that. Unfortunately, some products aren’t insured by the Federal Deposit Insurance Corporation (FDIC). While the resulting yield might be too tempting to resist if ever, always ask if, at least, it’s covered by the FDIC or not. Investments are good to make for the right reasons.

The Bank Loan May Not Be Right

Let’s say you finally found your dream home and simply need a loan. A mortgage banker Houston TX residents usually approach might offer one with a seemingly low rate that actually jumps in the succeeding years, especially if the lending business is rather slowing down. Consider getting what’s called a two-step adjustable mortgage where a fixed rate kicks in after a set period.

There Might Be Unexpected Fees

Nobody, least of all, you, likes pay for charges that were not announced in the first place. A mortgage banker Huntington has might impose certain fees after. Always ask for an itemized and detailed list of what’s expected to be paid, and ask that the bank to disclose to you all the fees included in your transaction.

When dealing with financial institutions, don’t be afraid to ask as many detailed questions as possible. You can also read more about laws involving banks and any mortgage banker Houston has on Dummies.com and EzineArticles.com.

Justin Bill - About Author:
For more details, search mortgage banker Houston TX,mortgage banker Huntington and mortgage banker Houston in Google for related information.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/mortgage-articles/four-things-you-need-to-understand-when-it-comes-to-banking.htm

Related Mortgage Articles Subscribe to RSS

Your guide to getting the best mortgage rates
Published by Jack Smith on April 18th 2012 | Mortgage
A systematic and well guided approach will certainly assist you in achieving the best mortgage rate ...
 
US mortgage rates hit record low at 3.66%
Published by Apil Gupta on July 16th 2012 | Mortgage
There was a significant drop in the US mortgage rates for 30 year fixed loans...
 
The coming back of the long-term fixed rate mortgage
Published by DavidVila on February 14th 2012 | Mortgage
There is a return of long-term deal of mortgage that is as long as 7 years as well as 10 years. Skip...
 
Wells Fargo faces mortgage risk
Published by Apil Gupta on July 16th 2012 | Mortgage
One out of every three home loans in the USA is currently being funded by Wells Fargo and Co., which...
 
Get out of a bad credit mortgage situation
Published by Jack Smith on June 20th 2012 | Mortgage
If you need a bad credit mortgage, there is no doubt that you are in a tight fix. But bail yourself ...
 
Consult well about Adjustable mortgage rates before selecting
Published by Jack Smith on July 23rd 2012 | Mortgage
Adjustable mortgage rates are turning worldwide popular because they offer variations on the rate of...
 
Why is an adjustable rate mortgage so popular?
Published by Apil Gupta on June 24th 2012 | Mortgage
An Adjustable Rate Mortgage (mortgage ARM, for short), also known as the lender's Standard Variable ...
 
Get the best out of bad credit mortgage rates
Published by Jack Smith on June 23rd 2012 | Mortgage
Bad credit mortgage are becoming increasingly popular due to the high interest rates and rising debt...
 
Brokers getting importance for bad credit mortgage
Published by Jack Smith on July 24th 2012 | Mortgage
In the arena of bad credit mortgage the value of brokers, consultants and complete suggestion provid...
 
Top 3 benefits of mortgage services for real estate investors
Published by Lending Expertsca on May 11th 2012 | Mortgage
Mortgage services offer several types of financial services for real estate investors as well as for...
 
Understand and consult bad credit mortgage rates
Published by Jack Smith on July 23rd 2012 | Mortgage
The people seeking bad credit mortgage rates first require to conduct complete research and pay atte...
 
Lay your hands on the best mortgage rate in the market!
Published by Jack Smith on April 14th 2012 | Mortgage
While it may be a challenge to find the best mortgage rate¸ a good lender company can always make y...
 
The top 5 most preferred mortgage types
Published by Apil Gupta on June 24th 2012 | Mortgage
When it comes to choosing the mortgage types that are available to a home buyer, the options are apl...
 
Explore the different options of mortgage rates available
Published by Jack Smith on April 14th 2012 | Mortgage
It is advisable to first thoroughly investigate about the most lucrative mortgage rate in the market...
 
Most excellent home mortgage calculator plus home buying tips
Published by Andrew Watson on December 30th 2011 | Finance
For a number of people it certainly is very much common to look around for best mortgage calculator....
 
A mortgage club benefits individual lenders to increase their business
Published by Graves Cruz on June 6th 2012 | Mortgage
We have worked alongside The Buy to Let Business since its incorporation....
 
Beware of Yield Spread Premium on California mortgage rates
Published by Apil Gupta on June 24th 2012 | Mortgage
If you are going to refinance your mortgage because the California mortgage rates on your current pr...
 
Find the perfect california mortgage broker online
Published by Apil Gupta on June 24th 2012 | Mortgage
The importance of finding a good California mortgage broker online is paramount in today's times, pa...
 
Fall in mortgage rates leads to better home sales
Published by Apil Gupta on July 16th 2012 | Mortgage
Riding high on the phenomenally low mortgage rates, there has been an increasing demand for new US h...
 
Exploring best adjustable mortgage rates as per expectations
Published by Jack Smith on July 23rd 2012 | Mortgage
The act and need for searching best adjustable mortgage rates is common in the world, where people s...