Santa Ana Mortgages

Written by Stephanie Dula
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There are plenty of mortgage products available in the Santa Ana area that are funded by a variety of lenders. When shopping for a suitable Santa Ana mortgage program, it may be a good idea to check out the Internet first. There are plenty of government and quasi-government websites that provide free, unbiased information intended to empower the consumer in what can be a confusing and stressful process.

Mortgages and Points

Finding an affordable mortgage can be done by understanding all the fees a lender may charge, including points. A point is equal to one percent of the loan amount. Lenders will usually charge points in exchange for a better interest rate on the loan, which can mean lower payments and thousands saved in the end.

Lenders usually charge more points for a lower interest rate, and fewer points in exchange for a higher interest rate. Some borrowers may be willing to pay a couple more points up front for a lower rate. Other borrowers may decide they can't afford to pay the points up front and will opt for a slightly higher rate. Free online calculators can help determine the best way to go to satisfy the particular needs of the borrower.

Most realty companies now offer comprehensive websites in which prospective home buyers can view listings and compare different programs. Experts suggest that more and more people all over the country are conducting at least part of their mortgage searches on the Internet. Since most people still prefer to speak with an actual mortgage professional when it comes to making a final commitment, many online vendors have professional staff members ready and waiting to answer situation-specific questions.

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