On The Money: Shopping for a Mortgage

By | April 16, 2012

(Source: By Chuck Myers McClatchy-Tribune News Service (MCT) — While mortgage rates remain very low, borrowing in the current tight credit climate can prove a challenge.

Prospective homeowners therefore need to be as well informed as possible about the mortgage process and qualifying for a loan.

The Web can serve as a useful tool for answers about mortgage rates and the borrowing process. Here are a few sites:

—American Bankers Association: Provides general overview of how to shop for a home mortgage. http:///www.acbankers.org/Press+Room/MortgageTips.htm

—Bankrate.com: A good primer on how mortgages work and the different types of borrowing. http:///www.bankrate.com/brm/green/mtg/mort1a.asp

—Federal Trade Commission: Features insights on how to shop, compare and negotiate a home mortgage. http:///www.ftc.gov/bcp/edu/pubs/consumer/homes/rea09.shtm

—Mortgage Calculators: Offers a wide range of mortgage insights and tips. http:///www.mortgagecalculator.org/helpful-advice/ups-and-downs-with-mortgages.php

—Moving.com: Covers mortgage basics and finance tips. http:///www.moving.com/articles/mortgage-101.asp

Distributed by MCT Information Services

Source: By Chuck Myers McClatchy-Tribune News Service (MCT)

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