Preferred Loan Type Select ---------------> Mortgage Refinance Cash Out Refinance Home Equity New Home Purchase Property Type Select One-----------> Single-Family Detached Condominium Cooperative Multi-Family Dwelling Modular Mobile Home (Moveable) Manufactured Home Property Value Select One-----------> 1st Time Buyer 70,000 - 80,000 80,000 - 90,000 90,000 - 100,000 100,000 - 110,000 110,000 - 120,000 120,000 - 130,000 130,000 - 140,000 140,000 - 150,000 150,000 - 160,000 160,000 - 170,000 170,000 - 180,000 180,000 - 190,000 190,000 - 200,000 200,000 - 210,000 210,000 - 220,000 220,000 - 230,000 230,000 - 240,000 240,000 - 250,000 250,000 - 260,000 260,000 - 270,000 270,000 - 280,000 280,000 - 290,000 290,000 - 300,000 300,000 - 310,000 310,000 - 320,000 320,000 - 330,000 330,000 - 340,000 340,000 - 350,000 350,000 - 360,000 360,000 - 370,000 370,000 - 380,000 380,000 - 390,000 390,000 - 400,000 400,000 - 410,000 410,000 - 420,000 420,000 - 430,000 430,000 - 440,000 440,000 - 450,000 450,000 - 460,000 460,000 - 470,000 470,000 - 480,000 480,000 - 490,000 490,000 - 500,000 500,000 - 510,000 510,000 - 520,000 520,000 - 530,000 530,000 - 540,000 540,000 - 550,000 550,000 - 560,000 560,000 - 570,000 570,000 - 580,000 580,000 - 590,000 590,000 - 600,000 600,000 - 610,000 610,000 - 620,000 620,000 - 630,000 630,000 - 640,000 640,000 - 650,000 650,000 - 660,000 660,000 - 670,000 670,000 - 680,000 680,000 - 690,000 690,000 - 700,000 700,000 - 710,000 710,000 - 720,000 720,000 - 730,000 730,000 - 740,000 740,000 - 750,000 750,000 - 760,000 760,000 - 770,000 770,000 - 780,000 780,000 - 790,000 790,000 - 800,000 800,000 - 810,000 810,000 - 820,000 820,000 - 830,000 830,000 - 840,000 840,000 - 850,000 850,000 - 860,000 860,000 - 870,000 870,000 - 880,000 880,000 - 890,000 890,000 - 900,000 900,000 - 910,000 910,000 - 920,000 920,000 - 930,000 930,000 - 940,000 940,000 - 950,000 950,000 - 960,000 960,000 - 970,000 970,000 - 980,000 980,000 - 990,000 990,000 - 1,000,000 1,000,000 - 1,010,000 1,010,000 - 1,020,000 1,020,000 - 1,030,000 1,030,000 - 1,040,000 1,040,000 - 1,050,000 1,050,000 - 1,060,000 1,060,000 - 1,070,000 1,070,000 - 1,080,000 1,080,000 - 1,090,000 1,090,000 - 1,100,000 1,100,000 - 1,110,000 1,110,000 - 1,120,000 1,120,000 - 1,130,000 1,130,000 - 1,140,000 1,140,000 - 1,150,000 1,150,000 - 1,160,000 1,160,000 - 1,170,000 1,170,000 - 1,180,000 1,180,000 - 1,190,000 1,190,000 - 1,200,000 1,200,000 - 1,210,000 1,210,000 - 1,220,000 1,220,000 - 1,230,000 1,230,000 - 1,240,000 1,240,000 - 1,250,000 1,250,000 - 1,260,000 1,260,000 - 1,270,000 1,270,000 - 1,280,000 1,280,000 - 1,290,000 1,290,000 - 1,300,000 1,300,000 - 1,310,000 1,310,000 - 1,320,000 1,320,000 - 1,330,000 1,330,000 - 1,340,000 1,340,000 - 1,350,000 1,350,000 - 1,360,000 1,360,000 - 1,370,000 1,370,000 - 1,380,000 1,380,000 - 1,390,000 1,390,000 - 1,400,000 1,400,000 - 1,410,000 1,410,000 - 1,420,000 1,420,000 - 1,430,000 1,430,000 - 1,440,000 1,440,000 - 1,450,000 1,450,000 - 1,460,000 1,460,000 - 1,470,000 1,470,000 - 1,480,000 1,480,000 - 1,490,000 1,490,000 - 1,500,000 Over 1,500,000 Credit Rating Select ---------------> Excellent Good Fair Poor

Get Connected with Wholesale Mortgage Lenders who can offer you better loan products. Our clients come to us to facilitate their lending needs for refinancing and purchase. The mortgage market is changing… ARM yourself with the best loan programs so you can compete in this evolving marketplace.

Sub-Prime Home Lending Update: Bad Credit Loan News-
With several major sub-prime mortgage lenders going out of business, the focus has shifted to default prevention with banks across the country react to a heavy credit crunch. Recent reports found that consumers with bad credit loans were more likely to default on their home loan. According to Bad Credit Mortgages, "consumers that have adjustable rate payment option loans have lower credit scores because their 1st mortgage balance has exceeded the original loan amount with the added principal from the negative amortization."

How to Shop for Home Equity Loans and Credit Lines

Home equity loans, also known as second mortgages, are popular ways for home owners to draw equity from their homes for various reasons. There are two types of second mortgages: the home equity line of credit (HELOC) which is a variable rate loan, and a closed-end home equity installment loans (HEIL) which is generally a fixed rate loan with fixed monthly payments.

Check out the Home Equity Mart for Home Equity Credit and loans.

Home equity lines of credit typically offer interest-only payment options during the draw period (typically the first 5 - 10 years) that turns into a regular amortizing adjustable rate mortgage (ARM) during the repayment period. While there's typically no pre-payment penalty, many home equity credit lines do charge close out fees - fees charged for paying off and closing the line early (typically within the first 3 - 5 years). Closed-end home loans are lump-sum loans that require the borrower to immediately start making monthly amortizing principal and interest payments on the loan. They typically do not have pre-payment penalties or close out fees. Continue Reading Home Loan Article

Will Brokers and Lenders Running My Credit Affect My Credit Score When I am Shopping for an Equity Line of Credit or Home Loan?

The myFICO web site explains it this way: Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though you're only looking for one loan. To compensate for this, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So, if you find a loan within thirty days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks at your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. An Illinois mortgage lender representing Woodfield said, "The credit score dictates the rate the borrower will qualify for. If the borrower has a high credit score then it’s likely they will qualify for the best home loan rates available in the industry."

That doesn't leave you much room to shop, does it? However, there are ways around it. Before you even start talking to home loan lenders, you should get a copy of your credit report from each of the three main credit reporting agencies.

Credit reports are critical for lenders to evaluate your ability to repay loans. The mortgage industry has been using fico score reporting for decades. Keeping your credit scores high is one of the best ways to ensure low interest rates.

Equifax: (800) 685-1111

Experian -formerly TRW: (888) 397-3742

Trans Union: (800) 916-8800

Why are Negative Amortization Home Loans Under Scrutiny?

The Feds and numerous consumer groups have been pressing hard to mandate new lending laws for option arm and negative amortization loans. Their goal is to require additional loan disclosures for homeowners interested in these alternative home financing programs.

At this time mortgage brokers and lenders are required to present potential borrowers loan disclosures, but many people feel that it is not enough to educate consumers of the potential pitfalls. Whether you are considering a 1st or 2nd mortgage, ask for a loan with a simple interest amortization.

Tips for Comparing Mortgage Lenders and Brokers Online

Searching for a home loan online is an excellent way to get started in the important process of finding the right home loan for your needs. Finding a lender or mortgage broker locally or finding a reputable lender nationwide is considerably easier if you utilize the internet.

Different brokers offer different products depending on their specialization. If you have great credit and an excellent source of income, then you should have an easy time shopping for a prime mortgage broker. You should investigate FHA and VA loan programs to see if you qualify and maybe even look at an option ARM lender.

Fixed Rate Principal and Interest. This involves structuring the mortgage so that interest is fully amortized over the scheduled re-payment terms. Each monthly payment pays a portion off accrued interest and the outstanding loan balance decreases with each payment.

Negative Amortization. This involves structuring the loan so that interest is not amortized over the term. Instead, the monthly payment is insufficient to pay off accrued interest and the outstanding loan balance therefore increases each month. At the end of the loan term, the borrower may owe more than the amount originally borrowed. With negative amortization, there will almost always be a balloon payment at the end of the loan.

FHA Home Refinancing Saves Consumers Homes with Secure Loans
Millions of homeowners have been searching for a refinance loan solution online that will help them escape from their adjustable rate mortgage that is attached to a rising payment out of the borrower’s budget. FHA introduced a secure home loan that is designed to help prevent foreclosures with fixed rate refinancing options that are offered only to homeowners who have a variable rate ARM that the shows no late mortgage payments prior to the adjustment period. To get better acquainted with fixed rate solutions, check out the website for FHA Refinancing.

Featured Home Loan Wholesale Blog Articles

Illegal Mortgage Leads from Executive of a Countrywide Financial Corp - Quality real-time mortgage leads are hard to come by these days with so many unscrupulous lead brokers.

How the Mortgage Market has Changed Lenders and Brokers - Marty Gold, the managing mortgage broker who recently worked with FHA Home Loan Services recently said, "Credit scores are like liquidity to homeowners."

$700 Billion Bailout – Is it a good idea for the Mortgage Industry? - Homeowners are looking for help with Foreclosure Prevention . "There is a risk that there will be bank failures to come," said Vincent R. Reinhart, former director of the Federal Reserve's monetary affairs division.

Jumbo Mortgage Loan Programs Improving - It’s always tough to pick the exact bottom or top of anything," Kelly said. For most California borrowers, jumbo mortgage refinance options have been few and far between. Jumbo home loan options have improved in 2010 and most insiders anticipate that non-conforming loan programs to loosen up a bit in 2011.

California Mortgage Rates Rise – Don’t panic, because home mortgage rates in the "Golden State" are still more affordable than they have been in decades. Just a few weeks ago California home loan rates hit a new record lows at 4.375% on a 30 year fixed mortgage. The current California mortgage rates have crept up slightly for conventional, FHA, VA and jumbo home loans.

VA Home Loans – Active military and Vets have a significant advantage with the VA mortgage programs. The VA streamline refinance product enables borrowers to get a quick low cost refinance. VA home loans allow 100% home financing and refinancing as well.