Naturally, you want to get the best deal for the least amount of money. This holds true for mortgage rates as well.

A lower interest rate means a lower monthly mortgage payment, which can save you money in the long run. Also, it is easier to qualify for a lower payment than a higher one.

You basically have two routes to finding the best rate. The first is to do all the research on your own. The second is to use a mortgage broker.

Do-It-Yourself

With the advent of the Internet, much of this information is readily available online. Once you have educated yourself sufficiently about real estate loans, all it takes is the time and energy to sift through online resources to find the information you need.

Rates change quickly. That great…

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Fortunately for buyers, there are a variety of mortgages to choose from. It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won’t qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more than one, you may save yourself money (and worry) in the long run if you do your homework before signing on the dotted line.

Fixed Rate Mortgages

Consider a fixed rate mortgage if either of the following describes you:

- You plan on living in your new home for many years, and/or

- You are not a risk-taker and prefer the stability of knowing how much your payment will be each month.

Since most home loans are for a period of 25 years, if you want a…

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    • Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.

    • Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close…

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Real estate deals can be long, drawn-out exercises... often filled with boring procedures and stress-inducing formalities!

You may be keen to get the whole selling process over and done with, but are you truly ready to make the sale? Maybe not just yet.

Be sure to keep these factors in mind before you secure the deal! 

Make Sure The Price Is Right

You won't be surprised to hear this is the most important factor that comes into play when selling a home. Look at it this way, every house is “sellable” if it is priced accordingly - so be sure to price it accordingly!

That means you should be realistic about the home’s true market value, and avoid misinterpreting market data. You should only be factoring in SOLD homes in your area, of…

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