Posted in Community :
windows administration
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Activity:
29 views;
last activity : 11 17 2011 10:25:28 +0000
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Avoid 3rd party loan agent and prefer direct bank home loan agents only.
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Loan Locks
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nationalised banks are safe bet if property documents are in proper order
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Ideas in:
"Home Loan Tips"
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Avoid 3rd party loan agent and prefer direct bank home loan agents only. |
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by
kanukurthy sudershanrao, Operations Manager, Andhra Bank
| 11 17 2011 02:38:37 +0000
Your analysis is correct.
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the first home loan interest rate quoted is never the final rate, When it comes to locking the interest rate on a mortgage loan, everybody wants to time it to get the best deal. There's nothing wrong with that sentiment. It's normal. Some of the time you'll get lucky and some of the time you won't. In other words, it's a roll of the dice. With a locked interest rate, however, you are guaranteed that if interest rates go up by the time you are ready to close, you will pay the lower interest rate.
When it comes to locking the interest rate on a mortgage loan, everybody wants to time it to get the best deal. There's nothing wrong with that sentiment. It's normal. Some of the time you'll get lucky and some of the time you won't. In other words, it's a roll of the dice. With a locked interest rate, however, you are guaranteed that if interest rates go up by the time you are ready to close, you will pay the lower interest rate.
for more details please go through: http://homebuying.about.com/od/financingadvice/qt/LoanLock.htm
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I have found that the Nationalized Bank's home loan's are more competitive and
reliable in case of foreclosures it is less hassle free.
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