San Diego, CA (PRWEB) October 01, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The website also provides a number of online tools that can help borrowers to find the best loan for their situation. The recently added live rate quote tool is one such tool. The system provides borrowers with a list of dozens of lenders offering loans that fit their specific mortgage needs. This, along with the recent drop in interest rates, make for the perfect opportunity for those who have plans to buy new housing to find the best deals and grab the chance to lock in some of the lowest rates they are likely to see this year.
A recent article from Mortgage News Daily posted on September 27th explains: “Mortgage rates fell noticeably today, keeping alive an impressive streak of 13 days without higher rates. Three out of those 13 have been 'unchanged,' yesterday being one of them. There was a chance this marked a shift in the positive momentum, but financial markets were quick to get back on the 'lower rates' bandwagon when it began rolling again this morning. Conforming, 30yr Fixed rates moved down to 4.25% (best-execution) for most lenders, a level not seen since June 19th. A decent amount of lenders remain at 4.375% while others have reasonable buydowns to 4.125%, depending on your scenario and personal preference.”
These low rates can pave the way for those have been held back by months of higher rates to finally get into their new homes. The live rate quote tool on LoanLove.com can further help these borrowers by helping them to find the best option among the many lenders that are offering these lower mortgage interest rates. By using the rate quote tool, borrowers will be able to easily sort their loan options by a number of criteria and thus compare between them in order to find the one that best fits their needs. A guide to comparing rates is also posted along with the rate quote tool. This article explains:
“With so many lenders offering mortgage products today, it can be difficult to know which loan is truly the best deal for you. Fortunately, there are a few relatively simple ways to compare mortgage interest rates, and taking the time to explore at least one of them could mean big savings for you over the life of the loan.”
This article then explains how borrowers can use the loan’s APR (Annualized Percentage Rate) and GFE (Good Faith Estimate) as well as mortgage calculators (many of which can be found on LoanLove.com) in order to find which option offers the best deal over time. As the guide concludes: “Comparing the costs of multiple mortgages only sounds like a complicated and time-consuming task; the truth is, any of these simple comparison methods takes only a minimal investment of your time, but the results can yield huge savings for you over the lifetime of your mortgage.”
For find the latest low mortgage rates with the live rate quote tool and learn more about comparing mortgage rates, please click here.