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Tuesday, May 22, 2007

Ditech : How To Find The Best Home Equity Loan Rates

There is certainly no shortage of home equity loan companies on the market today. You only need to turn on your TV to understand what I mean. Every bank, credit union, and financial institution offers home equity loans to their customers. That's great, buy how do you find the best home equity loan rates that are the best for you and your situation?

There is no quick way to find the best rates without taking a little time and doing some research, but the good news is that by doing this, you'll find the best home equity loan rates that will save you the most amount of money.

Most financial and banking experts agree; the best home equity loans have the lowest possible fixed rates as well as tax-deductible benefits.

While an adjustable rate home equity loan may seem like a better deal right now, it won't be over the long term. The fluctuations in interest rates are cause of concern. You have no idea what interest rates will be in 2 years, 5 years, or even 10 years from now. You could easily find yourself paying 5% or more in interest rates down the road. Not a great though to say the least. With a fixed home equity loan rate, you'll never have to be concerned about interest rates.

The Internet can be a valuable resource in finding the best home equity loan rates. As a good start you can look into financial lenders such as Ditech, E-Loan and Country Wide. They are all reputable lenders who specialize in home equity loans. Of course, there are hundreds of other companies that you can check out as well.

Lending Tree and Quicken Loans are two more home equity lenders that can also help. Lending Tree also has a program that will loan you up to 125% of your equity depending on your credit history. They also offer very competitive rates as well.

No matter which lender you choose, the best home equity loan rate will from those who offer a fixed rate of interest along with being tax-deductible. By spending some time searching out your various options, you're sure to find the right loan to suit your needs.

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Ditech : Will Online Mortgage Lenders Replace Traditional Banks?

The Internet has changed our lives in more ways than we can imagine. The Web provides a convenient, fast, comprehensive source of information that we have very quickly embraced as our "go to" source for whatever it is we need in a pinch. The emergence of sites such as Amazon and eBay have made it very easy to buy merchandise and now, more than ever, financial products. One of the fastest growing businesses on the Web is that of companies that provide mortgages.

In the past, anyone who wanted to buy a home had to get in the car with a pile of financial documents and visit their local lender. In small towns, there may have been only one lender, and prospective buyers were at the mercy of that lender's terms, rates and conditions. That is no longer the case. The emergence of large lenders such as E-Loan or Ditech has made it possible for anyone with an Internet connection to obtain a mortgage or home equity loan at a competitive rate.

There are several reasons why Internet lenders are seeing increased business:

# Convenience - The ease of shopping for a loan from the privacy of your own home is something that many buyers appreciate, especially if they have been driving all over the place looking at houses.
# Variety – Some online lenders may offer a wider variety of mortgage products than local lenders. This may be especially true if you live in a small town.
# Speed – Many online lenders can determine quite quickly if a borrower will qualify for a loan.

Some things, such as a property appraisal, cannot be done online, of course. Online lenders work with a variety of local appraisers in order to verify that the property in question is valued sufficiently for the desired loan. Online lenders also have staff members available to speak by telephone with customers who do not wish to provide personal or financial information over the Internet or who may have problems with the loan process that need to be discussed with a real person.

While the business of mortgage lending is not likely to be completely taken over by online lenders, the Internet has certainly added some variety and convenience to the process of shopping for a home loan. As time goes on, using the Internet for loan comparisons will probably become a standard part of shopping for a loan.

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Ditech : Hybrid Home Equity Loans Changing the Face of Second Mortgages

Applications for home equity loans and second mortgages recently hit a 15 year high. According to Freddie Mac, "88% of homeowners who refinance their homes in the 1st quarter got a mortgage at least 5% larger than their first loan." Since this was the largest increase since 1990, and the Fed continues to increase key interest rates, it is my contention that the demand for cash and the ability to finance quickly is the greatest it has been since World War II.

"The reality is that some people still believe the interest rate are under 6%,"said John Allen from Laguna Beach, California. John continued, "If I need cash for home improvements..Why wouldn't I just take out home equity loan since my first mortgage rate is under 5%." John's mentality mirrors many of my borrowers' frames of mind of late. Consumers are much more educated than they used to be about financing and taking out second mortgages. First time homebuyers don't hesitate to get subordinate financing to help them accomplish their goals. Some people like John just want to finance the construction for pool and spa, but most of my borrowers are focused on consolidating credit card debt so they can cut their expenses and have access to more money at the end of the month.

Some interesting home equity products have rolled out recently. Companies like BD Nationwide Mortgage and Ditech are offering larger 125% loans, and convertible equity credit lines. They are called convertible, because they start out as variable rate credit lines, but at any point you can convert portions of the line to a fixed rate loan, and still keep the unused portions of the line of credit open for revolving credit. These hybrid home equity loans are changing the face of second mortgage products and they offer powerful features that meet the needs of a typical family as well as the savvy real estate investor.

Lynda Nelms continues to write her popular column, called "Ask Lynda" where she offers helpful home financing tips to consumers from an experienced loan officer's perspective. She inpires a growing number of loan officers across the country with her fresh approach to home equity lending.

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Ditech : Best Home Equity Loan Rates

With hundreds of companies, banks, and other financial institutions flooding our country, it has become extremely difficult to find the best home equity loan rates. Hence, research and knowledge-gathering are required before taking out a home equity loan.

Research shows that the best home equity loan rates are fixed, stable, and low, possessing tax-deductible features. Although such fixed interest rates seem more expensive at first, analysis shows that they prove to be cheaper and more affordable in the long run.

Predictability is another feature of good home equity loan rates. With payment of constant or same credit every month, one does not worry about fluctuations in the interest rates of a loan. Home equity loans provide credit in bulk and maintain a constant interest rate for the whole loan and repayment period, be it 5 years, 10 years, or 15 years.

Rates differ from one company to the other. Some financial institutions providing good home equity loan rates include Quicken Loans, Country Wide Home Loans, E-loan, Loan Web, Ditech, Lenders Exchange, Lower Your Bills, Home Loan Center, Net Bank, Chevy Chase Bank, and many others.

The aforementioned companies let you borrow up to 100% or sometimes 125% of your home’s value, at reasonable and stable rates. For example, Liberty Bank provides loan amounts from $25,000 to $250,000 when loan-to-value percentage is 80% at 5.49% APR.

Furthermore, Chevy Chase Bank provides low interest rates and discounts with automatic payments. Flexible payment schedules, low interest rates, fixed interest rates, free quotes, and much more make up the home equity loan advantages offered. Home equity loans of up to 125% of equity are available at companies like Lending Tree, Lower my Bills, Home Loan Center, and many others.

The best home equity loan rates are those that are stable, low and tax-deductible. With many companies offering great loan rates, you are sure to find the best one with just a little bit of research, knowledge, and effort.

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Ditech : Fixed Rate Home Equity Loans

Ever thought about a loan that charges you a constant or fixed rate of interest throughout your loan period? Try the no-hassle and convenient home equity loans, which are always paid in bulk and repaid in monthly installments at a fixed rate of interest.

Home equity lines of credit have interest rates that fluctuate according to the changes in index or the prime rate. This can be highly confusing and problematic for many. Those interested in fixed rates of interest on their loans will find relief in the stability of home equity loan rates.

Home equity loans can be secured against the equity—the difference between the estimated home value and the outstanding mortgage value—of the home, keeping the home as collateral. Fixed rates usually seem a little higher than variable rates in the beginning; however, they are cheaper in the long run.

Available for different periods such as 5 years, 10 years, and 15 years, such loans offer the predictability and stability of a fixed loan for the entire loan and repayment period. Such fixed rates are also tax-deductible.

Home equity loans with fixed rates are usually used for purchasing a new car, a down payment on a house, or consolidating debt, besides other things. Fixed rate home equity loans allow you to borrow up to 100% or sometimes 125% of your home’s value at reasonable and stable rates.

Different financial institutions exist which provide free quotes for home equity loans. Such companies include E-loan, Loan Web, Ditech, Lower my Bills, Mortgage Loan, Home Loan Center, Lowest Rate, and many others. The aforementioned companies and financial institutions offer great fixed interest rates. Some, like the Chevy Chase Bank, offer discounts for their customers.

Credit can usually be accessed from home equity by online banking, telephone, and ATMs. Fixed-rate home equity loans are great for people who want to have stability and predictability in their monthly payments. Still, to get the best deal, you should always research to find the best rate.

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Ditech : Lowest Home Equity Loan Rates

Tired of high interest rates? Loan rates can be burdensome, especially when they are high. Often, high interest rates dampen our zeal to borrow money. Fortunately, some companies, banks, and financial institutions work to make our wishes come true by offering the lowest interest rates to us on certain conditions.

Home equity loans probably provide the best interest rates. They are secured against the equity of a home, keeping the home as collateral. Equity refers to the difference between the estimated value of a home and the outstanding mortgages against it.

Such home equity loans offer interest rates which are fixed until the end of the loan period. Hence, repayment is made in equal sums every month. Home equity loan rates may seem slightly higher than other rates from the beginning of the loan payment, but are actually affordable and reasonable when viewed later on.

Most financial institutions look into a number of factors such as credit history, credit score, financial standing, outstanding debts, and other things, while considering our application for home equity loan rates.

Some excellent companies and financial institutions providing low home equity loan rates include E-loan, Loan Web, Ditech, Lower my Bills, Mortgage Loan, Home Loan Center, Lowest Rate, Country Wide Home Loans, and Quicken Loans, besides others.

The aforementioned companies usually provide free loan rates and quotes, enabling us to find the rate that works best for us. HSH Associates provides current home equity rates too. With loans extending to 5 ears, 10 ears, and even 15 ears, someone with a good credit history can borrow up to 100% of the equity value of a home with low fixed interest rates.

Different companies, financial institutions, and organizations provide different interest rates. Hence, to get the best home equity loan rates, one has to research well and find out about the different rates offered by different companies. Only then can one get the best deal at the lowest rates.

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Ditech : Home Equity Line Of Credit Rates

Many financial institutions, banks, and other organizations offer home equity loans with different rates. Usually, the common thread connecting all home equity line of credit rates is their dependency on the prime rate, the index published in some major newspapers, or the US Treasury Bill rate. This remains the base rate for all financial institutions. However, with this, they charge an extra margin, which varies and makes interest rates differ from one company to the other. Margin rates vary from 1% to 2% to the prime rate or index value.

Interest rates vary, with monthly installments changing from high to low or low to high, depending upon the prime rate at a particular time. However, there is a cap or limit on the interest rate changes, beyond which interest rates cannot rise.

Research shows that it is extremely important for borrowers to adequately check and conduct an in-depth study on the fluctuations of the prime rates and the interest rates offered by different companies. An advantage of home loans is that they are usually tax-deductible.

Some financial institutions offering good home equity lines of credit include E-loan, Bank of America, Flagstar Bank, Ditech, Merrill Lynch, E-rate, Net Bank, Charter One, World Savings, and Presidential Loan Products, among others. Some companies or financial institutes offer ‘tease rates’ during the initial months, and later shoot up their rates. For example, Net Bank provides a beginning rate of 6.25%, and then raises it to 7.25% APR thereafter.

It can be confusing to choose the correct interest rate. It is quite easy to get fooled by misleading ‘low’ quotes which promise low monthly payments initially but can be demanding later on. Home equity lines of credit are good when compared to other interest rates of different loans. However, adequate research is essential before getting a home equity loan.

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Ditech : Home Equity Line Of Credit Calculator

Confused about your credit line value? True, finding the correct value for our equity and credit line can be extremely confusing. However, it is of utmost importance, as it helps us in securing a home equity line of credit from different banks and companies.

To enable us to have an estimate of the credit line, different companies, banks, and other financial organizations help in calculating our home equity line of credit. A home equity line of credit is secured against the equity of a home, holding the home as collateral. Hence, the credit line essentially depends on the equity, or the difference between the estimated value of the home and the outstanding mortgage loans against it.

Financial institutions look for a number of factors while calculating our credit lines. They usually look into our financial standing, such as our ability to pay, by researching our incomes, debts, and credit history, besides other things.

Bureaus compile essential information on our name, social security number, credit history, public records, and even a list of all financial inquiries made. All this information is then boiled down to a credit score, or FICO score.

Depending upon the appraised value of our home, loans or mortgages we owe, and the loan-to-value ratio, companies and other financial institutions provide a credit line quote. Different types of calculators help us determine how much we will pay in monthly installments, the closing costs for selected loan products, and rate options.

Some companies that offer home equity line of credit calculators include Bank Rate, E-loan, Bank of America, Flagstar Bank, Ditech, Net Bank, Interest.com, and many more. Credit calculators, available online, help us calculate our credit lines at no cost. Completely free, they help us find the best deal.

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Ditech : Can You "Brand" A Small Business?

One of the household responsibilities I've taken on is that of "remote control manager." I just don't need to hear about "losing another one to Ditech" and I've gotten pretty good at flipping to a few other channels and getting back to the program just in time to keep peace in the family. But, it stuck, didn't it; and I'll have to admit that, were I looking a mortgage, Ditech would be among the first providers that I would think of.

That's the way big companies with deep pockets brand themselves. They hook you with their tag line, or a catchy tune, or a little humor. They go for repetition. They make you identify with what they are selling. They try to create an emotional bond with you that makes it easier to trust them. That's a great approach, if you have millions to spend - but you don't, if you’re a small business!

So, without a huge advertising and marketing budget, can a smaller business be successful at branding itself? Yes, but a more focused, strategic approach is needed - and doing three things really helps the process.

First, define very clearly what your business is and what you want to say about it. You need to be concise about this. Branding a small business is about building your reputation for what you can do, explaining what benefits you can provide, and showing customers how you can provide them value. Spending what little money you have saying the wrong thing, or saying it the wrong way doesn't make any sense.

Second, know specifically what market you are going after. This requires some analysis, but, again, funds are limited, so why spend your money talking to the wrong people? Remember, effectively branding your business means potential customers think of you first; talk to the wrong people and they are simply not going to care.

Finally, be able to measure the return on your marketing and advertising investments. This, too, requires doing a little homework and making assumptions; but, if you’re limited in what you can spend to establish a brand for your business, don’t you have to know whether or not the small amount you do have is hitting the mark?

That all may sound simple, but, if it was, everyone would do it - and you know that doesn’t happen. Saying the right things to the right people and knowing how much money you made in the process requires a lot of thought, but if done well, you can create real competitive advantage for your business.

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Ditech : Is It Possible To Get Home Equity Loans With Your Bad Credit?

With your history of poor credit ratings, no wonder getting home equity loans with bad credit is disheartening task. If you have failed to pay on a loan or even missed a couple of credit card payments, financial companies will label you as a bad credit risk, really quickly.

Bad credit is the term used for a poor credit rating. It should be noted however that bad rating does not equate to dishonesty and deceitfulness. Rather it is the consequence of late payment, exceeded credit limit, overdraft, and declaring bankruptcy. Whether the default of an account is on purpose or attributed to financial crisis, the resulting credit rating given is still the same.

So what will you do when you need the money to use for just about everything? Fixing your credit rating is the best solution. Paying off or maintaining a minimal amount on your credit cards, paying overdue bills and such. Bad credit is harder to fix especially in the presence of outstanding bills. But this solution is not for everyone.

Your Future is more Important than your Past

Getting home equity loans with bad credit may be a solution, if you can handle your finances well. Some equity lenders do accommodate homeowners with a bad credit history. One such lender is ditech.com, whose slogan runs "To us, your future is more important than your past". If you are looking to reestablish your credit, ditech.com can help with your home financing needs even if you have imperfect credit. They offer clients cash out equity and consolidate high interest and credit card debt. If you are interested in checking out ditech.com, maybe they can offer you home equity loans with bad credit rating.

www.ditech.com can be contacted by this number: 1-800-700-9054

Cash Poor but House Rich

Using home equity loans to strengthen bad credit ratings is already a common venture for those wanting to step clear of a debt pitfall, though some would have a complicated time in getting a equity lender to accommodate the loan. But over the years, another devise has emerged from insignificance to become a major component in refinancing. Reverse Mortgage is one hot topic these days. Unlike home equity where you have to have an income to qualify or monthly bills to pay, reverse mortgage works opposite. It pays back to you. But to be eligible for most reverse mortgage plans, you must be over 62 years of age and be the legitimate owner of the home. You are paid for the home's equity which you can get as a lump sum, a monthly check, a credit line or a combination of the stated options.

Concisely, home equity loans with bad credit are always bad business for financial companies. But that does not mean you apply for an equity loan because of delayed payments, it is only a matter of knowing where to look.

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