Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

How to Get Low Mortgage Rates from Washington DC Lenders

By Darius Degross Subscribe to RSS | May 18th 2012 | Views:
loading
 
  



Not a lot of people can afford pay with cash when they’re buying a home, which means you may have to get a mortgage to own your dream home. Most people are anxious about getting mortgage loans, thinking of the responsibility that comes with it. It is a pretty big burden to bear, but if you know what to do, it can be considerably easier than you think.

There are a lot of lenders and financial institutions that advertise low mortgage rates to draw people in. This means that low mortgage rates aren’t hard to find; obtaining them, on the other hand, is another thing entirely. Once these lending institutions have gained your attention with their rates, you would have to meet specific criteria for you to get a loan. This could be a daunting task for an average Joe, but there are some things that you can do to prepare and make yourself more attractive to lenders.

The best thing to have when you’re shopping for mortgage loans is good credit. You can get your credit report from credit bureaus, or you can work with websites like AnnualCreditReport.com. It is common knowledge that people with FICO scores above 760 get the best rates, but most Americans have a rating around 600. If you fall under the latter category, no worries; you still have a good chance.

You would look more financially stable if you have some assets like a boat or an RV, for example. If you don’t, even a few thousand dollars in the bank can be used as leverage, because this shows that you know how to handle money. It would be better, though, if the money you have in the bank is enough to cover around 10 percent of the loan.

You should also consider purchasing points when you’re looking for DC mortgage rates. Points will be what you pay up front to make your total mortgage payments smaller. You should also think about getting a shorter term for your mortgage; payments are high but you can save a lot on interest.

Another tip to get low mortgage rates DC lenders offer is to use scare tactics. Ask for official quotes for a couple of lenders and take the best quote to the others to see if they’re willing to beat those rates. Most lenders would say they wouldn’t, but some would be willing to make adjustments if they’re afraid you’re going to walk away.

If you can, you should work with mortgage brokers because they can help you find the best mortgage rates Washington DC has. For more information, you can visit thinkingfinance.net.

Darius Degross - About Author:
For more details, search DC mortgage rates, mortgage rates DC and mortgage rates Washington DC in Google.

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

Article Source:
http://www.articleside.com/mortgage-articles/how-to-get-low-mortgage-rates-from-washington-dc-lenders.htm

Related Mortgage Articles Subscribe to RSS

Low interest rate brings cheaper mortgage deals
Published by Sandra Jeux on January 25th 2012 | Mortgage
Interest rates are at the lowest side for mortgages at current time which is leading people of the c...
 
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...
 
Best mortgage rate California – Use these time-tested tips
Published by Apil Gupta on June 24th 2012 | Mortgage
Finding the best mortgage rate California is more often than not like locating a needle in a haystac...
 
Bad credit and mortgage refinance option
Published by Kam Brar on December 16th 2011 | Finance
As people think, it is not easy to get mortgage refinance with bad credit. There are various factors...
 
Comparable New Mexico auto insurance rates requires a keen eye
Published by Alabamaauto Insurances on January 17th 2012 | Finance
New Mexico has many sources of information regarding the best auto insurance quotes which includes t...
 
Search well in the market and get best mortgage rates
Published by Jack Smith on June 25th 2012 | Mortgage
For getting best mortgage rates from the market, you need to pull up your shocks and search well in ...
 
The best mortgage rate can make your dream come true
Published by Jack Smith on April 12th 2012 | Mortgage
The best mortgage rates can fulfill your dreams at a dreamlike cost. Get yourself the best deal in t...
 
How can a mortgage loan calculator help you save
Published by Apil Gupta on June 24th 2012 | Mortgage
There would be many of you out there who would be considering taking a mortgage loan for fulfilling ...
 
What all you should know about best adjustable mortgage rates
Published by Jack Smith on June 23rd 2012 | Mortgage
Best adjustable mortgage rates should be taken when you have a steady income and there is a slump in...
 
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...
 
Review of banks benchmark rates deciding the prices
Published by David Hurley on February 20th 2012 | Finance
There is going to take place a global review of the rate of interest on which various banks borrowed...
 
Mortgage rates in today’s day and age
Published by Jack Smith on April 18th 2012 | Mortgage
Good mortgage rates can effectively make things much simpler, while higher one’s can throw the bor...
 
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....
 
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 ...
 
The real truth about mortgage rates
Published by Jack Smith on April 16th 2012 | Mortgage
While mortgage rates may differ with several companies and diverse plans¸ a good, hard-working barg...
 
Looking for refinance mortgage loan - How to find the right one
Published by Apil Gupta on June 24th 2012 | Mortgage
In case you are looking to refinance mortgage loan for your home, there are many things that need co...
 
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...
 
Low interest rate brings cheaper mortgage deals
Published by Sandra Jeux on January 25th 2012 | Mortgage
Interest rates are at the lowest side for mortgages at current time which is leading people of the c...
 
Second mortgage might require the help of a strong broker
Published by Thomasgalvin on January 3rd 2012 | Mortgage
Availing a loan for a specific purpose is one of he most arduous task in the whole wide world, what ...
 
Should you go for a 15 or 30 year mortgage?
Published by Apil Gupta on June 24th 2012 | Mortgage
There are many times in life when one wants to possess something due to the sheer need of it, but is...