2011 Texas Associated Press Managing Editors Best Online Newspaper. Join Now! | Login · Forgot Password? Lubbock Online | Lubbock ... The average rate on the 15-year mortgage, a popular refinancing option, declined to 2.83 percent, below last week's ... US rate on 30-Year mortgage: 3.53 Pct., new record
The internet is the best source of information to shop around for the best interest rates. It is a good place to start the search for mortgage applications as they do not require any credit information in the first application. The lenders might contact the borrowers personally to inquire about the financial position. A person has the advantage to apply to different mortgage lenders simultaneously regarding refinancing home loan. In practical life, it becomes difficult for him to have a one-one interview with different lenders and it may be time consuming. The internet gives the liberty to submit quotes to numerous lenders and obtain maximum information. This might be very helpful for the borrowers to know about the lending rates of various companies and choose the best one according to his needs.
The mortgage companies will forward the request from the borrowers to numerous lenders and will forward their replies.
The top 4 or 5 lenders can be chosen and can be applied for the pre-approved loans. The particular lenders will contact the borrowers in just 24 hours of time. The entire process is made easy with the abundant available of information. Most of the refinance home loan applications will be approved in just one hour of time. Persons with good credit scores need not worry about the approval.The individuals with good salary and credit history should not get problems in getting the loan. They have the option to select the best lender out of the available lenders. The cheap interest rates can be compared so that the monthly payments can be reduced. It is good for the borrowers to make a good down payment to reduce the burden of monthly payments. The refinance home loans will be approved so easily and the borrowers must take advantage of using the technology to gain more convenience.
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