How to Find the Best Mortgage Rates

Thanks to the failing economy, mortgage rates are down. Way Down! Some are below 5%! Believe it or not, if you have good credit, now might be the best time for you to buy a house! The tips in the article below will help you to find the best deals on mortgage rates available to you right now...

Difficulty: Easy

Instructions

1. Take Care of Your Finances! Always make sure your bills are paid on time, your credit report is clean and your credit card debt is paid up to date! You should also check your credit report annually for any mistakes! The sure way to get the best mortgage rates is to make sure your personal finances are in good shape.

2. Ask your bank! Just give them a call or go into your local branch and ask the bank manager what the lowest mortgage rates are that they have available. They will be glad to share the information with you, especially if they think you'll take out your home loan with them!

3. Search online! Websites like Lending Tree and Best Rate offer you the ability to search for the best mortgage rates available from a variety of lenders. You just punch in your information and within a few seconds you will be shown several options. Usually the lowest mortgage rate available will be shown on top.

4. Read the Newspaper! Most banks advertise their loan information in the newspaper. Many ads even show their current mortgage rates, as well as interest rates for personal loans, home equity loans and more.

Resources

• Home Buying For Dummies
• Mortgages For Dummies

[alienangel555]

on 1/18/2009 it is a good time to buy! 5