Best Low Interest Mortgage: Wish To Build A Castle

Protecting Your Biggest Investment

17:30 13 March 2013

For most people, their home will be the biggest and most important investment made in their lifetime. Getting a low interest mortgage is the key to keeping your mortgage payments as low as possible, and making sure your home fits your budget. Knowing your options will help you navigate through the maze of choices to protect your home investment.

 

• A few interest points can mean a difference of a couple of hundred dollars more or less on your monthly mortgage. That’s why it is so important to diligently compare interest rates so that you can get the lowest interest rate possible.

 

• One of the biggest contributors to the huge mortgage defaults that have plague homeowners worldwide has been unbelievably high interest rates on loans that quickly became unaffordable when the economy crashed.

 

• If you’re a new home buyer, don’t let your excitement because you to accept terms that will hurt you eventually. Let your mortgage broker know that you want the lowest possible interest rate that you can qualify for. There are many programs for first time homebuyers with extremely low interest mortgage rates.

 

• Today’s economy has made mortgage insurance protection more important than ever. Mortgage insurance protection is insurance coverage that pays your mortgage for you in the event you lose your employment, or for some other reason, are no longer able to pay your mortgage. A loss of income can be a catastrophic event that can lead to foreclosure and the loss of your home.

You can also benefit from a job loss rider which protects your home from foreclosure while you are searching for another job. The cost of mortgage insurance protection will vary based on things like your monthly mortgage amount, current economic stability, and the likelihood that you could lose your job.

Take steps to protect your biggest investment, and assure you and your family a place to call home for as long as you want to.