Mortgage Hub

A mortgage is a large purchase, and you want to be sure that your lender will protect the investment. What are some of the things you should consider before shopping for a loan? Start by comparing interest rates from local lenders, banks, credit unions or online lenders with family referrals. You can also work with an experienced broker who’ll shop around on your behalf so there’s no need for all those hours spent doing it yourself! LendingArch will offer competing offers without any hassle of doing it yourself! Next use these three steps:

1. Line up your documents

2. Get the price quotes in writing, ask how long they are valid for, are there any hidden fees and what is the interest rate you will be paying

3. Expect that your lender will get you quotes within 3 business days

This answer will vary for each person and their unique circumstances. Our recommended option is to go through a mortgage broker who will be able to compare rates from multiple lenders for you and secure a great rate.

To get the best rate possible you want to apply when you have a strong credit score and then compare the available options. We make this process easy with our simple form that matches you with someone that can help get you a great rate.

The simple answer is no! Home equity loans are secured by the equity you have built in your home, so they are considered “less risky” to lenders. This often means easier qualifications than a traditional loan and much lower interest rates.

There are quite a few options to pay off a mortgage more quickly! That being said, you should always check to see if you will incur any penalties for doing so with your current mortgage.

Some ways include:
– Make lump sum payments
– Switch to a more frequent payment schedule
– Refinance to a shorter amortization period