Welcome to Mortgage Guide
Capital Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Scoring a Low Mortgage Rate
from: Mortage & Debt FactsToday’s mortgage rates are at historically low levels. So, scoring a low mortgage rate when compared to other decades in recent history is not hard. The trouble comes in when you are trying to get the average low mortgage rate and your credit or finances keep lenders from offering you the going rate. Or, it could be that despite the going rate, you want something even lower. These are all reasonable scenarios and there are ways to work towards the mortgage rate that you envision.
Prepare Before You Apply
If you know that your credit is shaky, don’t bother to apply for a mortgage loan without first checking into your credit score. You can get your credit reports for free; however, you will have to pay to see your credit scores. You can use some of that payment to procure the services of a credit counseling agency that can recommend some strategies to help you fix your credit in preparation for applying for a home loan. Just be sure to check out the reputation of the counseling agency, as there are some agencies that are fraudulent.
There are also community services offered by state and local governmental agencies that can teach you how to start shaping up your finances to qualify for a good rate. They may have programs where you can even buy a house for less than 20% down payment and even some way to subsidize the mortgage rate, if you qualify based on income levels or special conditions. Check the website of the department of Housing and Urban Development (HUD) to see about the many different programs from FHA to VA and more.
Pay Down With Points
If you want a mortgage rate that is even lower than the one offered (and it’s pretty good as it is), you can still ask if you pay points to lower the rate. Points are 1% of the total value of the loan and paying more points can lower your rate on the life of the loan. Of course, this increases the money you need up front, but if you are shopping for a low mortgage rate, then this is a definite strategy.
Look at Unconventional Loans
This is where people in the housing bust got in trouble, but adjustable rate mortgages are still out there. Currently, the low mortgage rate offered by an adjustable rate mortgage (ARM) for a period of time is what influences people to get these types of mortgages. However, they do adjust and then the sticker shock can be substantial. So, when trying to get a low mortgage rate, make sure you understand whether it is for the life of the loan or a temporary period.
Capital Mortgage Specific links
Capital Mortgage News
American Capital Mortgage Investment Corp. Announces Pricing of Public ... - MarketWatch (press release)
American Capital Mortgage Investment Corp. Announces Pricing of Public ... MarketWatch (press release) BETHESDA, Md., May 24, 2012 /PRNewswire via COMTEX/ -- American Capital Mortgage Investment Corp. (NASDAQ:MTGE) ("MTGE" or the "Company") announced today that it priced a public offering of 11000000 shares of common stock for total expected gross ... American Capital Mortgage Investment Corp. Announces Public Offering of Common ... American Capital Mortgage Plans 10 Mln. Common Stock Offering - Quick Facts |
American Capital Mortgage Investment Corp. Announces 10M Stock Offering - Citybizlist (press release)
American Capital Mortgage Investment Corp. Announces 10M Stock Offering Citybizlist (press release) BETHESDA, Md., -- American Capital Mortgage Investment Corp. (Nasdaq: MTGE) announced that it plans to make a public offering of 10000000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an ... |
5 12% Plus Dividend Paying Stocks To Buy Today - Seeking Alpha
5 12% Plus Dividend Paying Stocks To Buy Today Seeking Alpha American Capital Mortgage Investment Corp. (MTGE) announced a secondary after the close tonight. I have continued to hold my shares despite the knowledge a secondary would likely occur. The annual dividend yield is 15.20%. I will explain my rationale ... |
Wall Street CMBS Allure Fades as Volatility Surges: Mortgages - San Francisco Chronicle
Wall Street CMBS Allure Fades as Volatility Surges: Mortgages San Francisco Chronicle Cortview Capital Holdings Inc., a broker-dealer backed by Warburg Pincus LLC, jettisoned a commercial-mortgage bond team in September, six months after hiring a group led by Bill Green, the former global head of real-estate capital markets at Wachovia ... |
Ally Financial says its Residential Capital mortgage unit seeks Ch.11 ... - Washington Post
 USA TODAY | Ally Financial says its Residential Capital mortgage unit seeks Ch.11 ... Washington Post DETROIT — The US government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster. Residential Capital LLC, or ResCap, filed for Chapter 11 bankruptcy ... Ally Financial's Residential Capital mortgage unit files for bankruptcy, will ... Residential Capital seeks Chapter 11 protection Ally Financial's mortgage unit nears bankruptcy: sources |