Tips for Comparing Mortgage Rates & Home Equity Loan Quotes

By Arthur Nourian

Mortgage Interest rates can change on a daily basis depending on market conditions and economic factors. It is important to compare mortgage quotes with accuracy. In most cases you want to get loan quotes all on the same day, so you can compare apples to apples. It doesn't matter whether you are comparing home equity loans, purchase loans or credit lines, get same day quotes. If you get several mortgage rate quotes from different lenders on various days, then you may be getting inaccurate interest rates.

Don't forget, for certain types of home mortgages, that the broker or lender will offer interest rate pricing based on the lock periods. Mortgage rate locks vary from periods of 15, 30, 45 or 60 days. Remember that the longer the lock period lasts, the higher the add will be for the interest rate. Always compare mortgage quotes for similar rate lock periods. So if you are considering closing your loan in 30 days, then compare rate locks for 30-day periods for all lenders.

If you want to pay less points or origination, then increasing your interest rate is the route to go. If you increase the home loan rate, it will decrease the points charged, while reducing the rate increases the points. Mortgage quotes can have tiered pricing to buy the rates and the points up or down. Always consider the APR, and request that the brokers quote the points separate from other fees. Mortgage refinance and home equity quotes must itemize origination and 3rd party fees.

Remember, mortgage rate shopping can save you money, but if you take the time to get quotes for second mortgages and refinance loans, then shop efficiently and compare loans effectively. In the long run, you will save time and money.

Arthur is a renowned author and Christian philosopher who loves to surf the right handers at Malibu, California. When he's out of the water, you can find him writing mortgage articles that he publishes online. Please visit these helpful resource loan sites: To get a no cost rate quote for a 2nd mortgage please check out Second Mortgage Rate If you need more loan advice about home equity credit or 2nd loans take a look at Home Equity Loan For the current mortgage rates, for home purchase or refinancing please visit the Quick Mortgage Rate

More Home Equity Information

Home Equity Loan Quote
Refinance Quote
Debt Consolidation Quote
Second Mortgage Quote
Home Purchase Quote
Cash Out Home Equity Loans
Debt Consolidation
Home Equity
Adjustable Rate Home Equity
Fixed Rate Home Equity
Interest Only Home Equity
Home Equity Loan Refinance
125% Home Equity Loan
Home Equity Lending
Home Equity Bad Credit
Home Equity Finance
No Equity Home Loan
Determining Mortgage Interest Rates
Comparing Mortgage & Home Equity Loan Quotes
Hard Money Mortgage Refinance
Loan Programs
Home Equity Loans for people with less than perfect credit
No Income Verification Home Equity
Home Equity Credit Lines
Home Equity Lenders Process

Cash Out Mortgage Refinancing
Cash Out Home Refinancing
Mortgage Refinancing with Bill Consolidation
Mortgage Refinancing
Adjustable Rate
30 Year Fixed Rate
Interest Only
Mortgage Finance

Mortgage Rates
Mortgage Rates Interest Only
Home Equity Loan Rates
Second Mortgage Rates
Mortgage Refinancing Rates
Debt Consolidation Loan Rates
Adjustable Mortgage Rates
30 Year Fixed Rates
Home Equity Interest Rates

Defining Home Equity Loans
Home Equity loans are often considered 2nd mortgages because the home equity loan subordinates to your 1st mortgage using the remaining equity you have in your home for the new 2nd mortgage. Home equity loans are great financing tools for accessing cash or refinancing credit cards and student loans . Homeowners can select from fixed rate home loans or variable rate home equity lines of credit that feature revolving access to your finance your home equity.

Mortgage Calculator
Company Profile

Contact Us
Loan Process
Mortgage Resources
Home Equity Resources
Second Mortgage Resources
Refinancing Resources