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5 Steps To Finding The Best Mortgage Lender

Lenders will “present price differently,” notes Robert Davis, an executive vice president at the American Bankers Association. “Some lower rates might include fees with it, so the annual percentage rate is different than what you might think.”

Also, understand that some lenders specialize. One might be a good choice if you’re financing a condo, while others might offer a better deal if you’re building your home from scratch. You’ll want to have a general idea of the type of property you’re interested in.

2. Check with lenders and people you know

You might find the right mortgage and the best lender without having to look very far. Go to the bank or credit union where you have a checking or savings account and ask about the types of mortgage deals that are available to current customers.

Compare any offer against what other lenders in your area and online and large national lenders will give you.

3 Ways to Pay Off Your Mortgage Faster

 

1. Refinance to a shorter term

One surefire way to repay your mortgage early is to opt for a shorter mortgage term. While a traditional 30-year mortgage is often the default choice of homebuyers, you could get a 15-year mortgage instead . A 15-year loan would save you substantially, not just because you'd be paying back your loan over a much shorter time, but also because shorter term mortgages typically have lower interest rates. 

Mortgage rates at the end of September 2017 were 4.00% for a 30-year fixed rate mortgage and just 3.375% for a 15-year mortgage . If you buy a $200,000 house and borrow $160,000 after making a 20% down payment, your monthly payment on a 30-year fixed rate mortgage would be $764 monthly and you'd pay $274,991 total over the life of the loan. If you borrowed that same $160,000 and took a 15-year mortgage, you'd pay $1,134 monthly and the total loan cost would be $204,123. You'd pay $70,868 less for your home and be debt free in half the time. 

What is the best way to play a rebound in the subprime mortgage / financial services space?

For those looking to make money on the ongoing panic in the financial services area, what is the best vehicle (ETF, mutual fund, equity, or bond) to play a rebound in this sector on the long side? Your ideas, please.


Indeed they stuffing has been knocked out of the financial sector. I am not sure what the best way to play it is. Here are a couple of ideas for you to consider.

ACAS and CSE are two options.