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Mortgage Loans

At Mortgage.org our goal is to provide Americans with the best options possible for their specific financial needs. Regardless if it is a first mortgage for a first time home buyer or simply a mortgage refinance on an investment property or rental home. At Mortgage.org we will work with you to find a loan that is right for your exact needs.

Mortgages are on the rise, and demands are increasing with a substantial jump in applications for both purchasing a home and refinancing an existing mortgage according to the recent figures released by the Mortgage Bankers Association.

As of February this year applications for refinancing a home were up by 11.7 percent, while applications for home purchase mortgage increased 9.5 during the last week of January (figures being on a seasonally adjusted basis.) Average points on an 80 percentage loan to value mortgage also fell on points paid for both 30 and 15 year loans, including origination fees. While the mortgage industry is far from being where it was before our countries economic crisis, it is showing some strong positive signs for turning around.

Of course, along with the upward trend of climbing out of the financial distress we are in, usually comes an increase in rate for mortgage. This can be good news too. Consumers who want higher returns on their savings, CDís and other investments will love it when the rates increase; this allows them a higher return. However, if youíre looking to buy a home or refinance mortgage, delay may not be your friend.

Thereís a good variety of mortgages available today, and currently the rates are still at an almost record low. Adjustable and fixed rate mortgages as well as balloons or second mortgages are just as attainable as they have always been. Credit rating will play a bigger role in todayís mortgage and approval process, so itís a good idea before applying for a mortgage to know what your credit score is and have a good overall picture of your credit history. Guidelines to this mortgage will vary depending on if itís a conventional or non-conforming loan. Most conventional loans will have a set criteria in which you must meet, like VA; FHA; Freddie Mac and Fannie Mae mortgage.

Non-conforming mortgage are exactly that, meaning they do not conform to standard federal guidelines, so these are more lenient in requirements such as your DTI (Debt to income ratio) and other criteria. You will pay a higher rate for non-conforming mortgage, but a consumer with less than perfect credit or a higher debt ratio will have a better chance getting an approval.

If youíre undecided as to which mortgage will work for you, or unsure if you will qualify, call and request the criteria of the loan you are considering. Things like DTI; minimum credit score; what percentage of the homeís value (LTV) will they lend up to; are all part of the guideline criteria on mortgage, both conventional and non-conforming. Depending on whether you are looking to purchase a home, refinance an existing mortgage or buy an investment property will make a difference in which mortgage type is best suited for your needs.

When doing your research you can compare mortgages by rate and terms, and also run comparisons on several loan scenarios by using the calculators created just for computing mortgages. We have a mortgage calculator right here on our site.

WebSite: http://www.mortgage.org/
Description: Mortgage Loans | Mortgage Rates | Mortgage Refinance | Mortgage.org
  Mortgage.org connects individuals with the financial product or service that fits their exact needs including first time home mortgages, mortgage refinancing, mortgage loans or equity line of credit.
Category: Regional
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  Mortgage.Org - Mortgage - Mortgage Rates - Mortgage Refinance

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