San Diego, CA (PRWEB) June 23, 2013
LoanLove.com, a new borrowers advice website founded just this April, has a mission to help consumers and borrowers alike in obtaining the latest information on mortgage lending trends, the real-estate market and the U.S. financial landscape for the purpose of helping them obtain a home loan they love. The new website is quickly becoming a trusted destination for current mortgage news and expert loan advice. 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. To fulfill this goal LoanLove.com is continually updating their website with new articles and guides; a recently posted mortgage savings 2013 guide continues to further the website’s goal of helping home buyers and home owners find the best loans.
The Loan Love article explains: “Although it may seem like an onerous, pain-in-the-neck task, shopping for a lower interest rate involves a relatively low time investment for what could turn out to incredibly high yields: A lower interest rate – even a modestly lower rate – can mean HUGE savings over the life of a loan, and not just a few hundred or even a few thousands but tens or even hundreds of thousands of dollars can be saved with just a modest decrease in interest during the life of a 15- or 30-year loan.” This is important to note for both those who are looking for financing for a new home purchase, and those who are thinking about refinancing their current mortgage.
The article also advises those who are looking for the best mortgage terms that the time to act is now. The articles says, “If you’ve been sitting on the fence about whether or not to buy a home or refinance your existing mortgage, you might want to hop down and get moving. According to a report in USA published earlier this year, it’s pretty unlikely interest rates will get any lower and economic indicators seem to be showing rates will continue to rise this year and beyond.” So what can homebuyers and owners do to benefit from mortgage savings today?
Putting in a little more effort to shop around for the right loan is one of the best things a person in this situation can do. Luckily there are a number of tools that make loan comparison a lot easier than it has been in the past. Mortgage calculators, for example, are an excellent way for people to look at all their different loan options and see which one fits their budget and offers the most savings over time. Rate quote tools can also help to compare a number of different lenders at a glance.
But comparing interest rates is not the only way to realize mortgage savings. The Loan Love article points out: “If you’re already putting in the time to shop around for a new loan, don’t box yourself in to your current loan structure – consider all your options and decide which one offers the best return: If you have a 30-year mortgage, lower interest rates may mean you can take a 15-year term without paying substantially more. Or, you might want to consider an adjustable rate mortgage (ARM), especially if you anticipate moving, switching jobs or getting a raise before the adjustment takes effect.”
For more information on how to find the best loan rates and save money on your mortgage, visit LoanLove.com for the full article.