Think your getting a good deal on an internet rate?  Call Advanced Mortgage Solutions before making a decision.

Please contact Advanced Mortgage Solutions at:

Phone: 732-223-5144
E-Mail: Info@AdvancedMortgageSolutions.com

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What's the first thing to come into anyone's mind when mortgages are the topic? Rates - who's offering the best one.

The fact is that lenders' are all offering the same range of rates. Today, rates are typically in the range of 5 ½% to 11%. It's not a question of who has the best rate, but instead, who has the rate you want at the lowest cost to you.

Cost? What do you mean, cost? If I shop for a loan that's offering zero points, what cost is there to me?

Although lenders' advertise and offer zero point loans, there are still fees that are charged either at time of application or at closing, even though you might not be paying points toward the loan.

So, where do you begin when shopping for rates?

Begin by opening the news papers and reviewing the rates offered by banks. Since mortgage programs are originated by banks and private lending institutions, these rates can be an excellent gauge for the range being offered as well as for the zero point rates that are currently on the market.

Next, if you have a broker or lender in mind, call them and ask what their charges are for application fees, commitment fees and any other fees involved. You will find that each broker and / or lender has different fees even though they offer the same zero point rates.

Finally, ask questions about service. Is your application going to end up in a pile of other applications waiting to be processed. Or, are you going to receive one-on-one personalized service from start to finish to ensure your loan is closed quickly and smoothly.

Don't be fooled by publicized rates that are lower than the going zero point rates offered by banks. Usually by checking the date in the fine print you'll find that the rate was offered at another time and is no longer available.

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Mortgage companies can talk about a low mortgage rate, but not everybody will qualify for a loan at the lowest rate because stipulations such as your credit rating, your ability to repay the loan, and outstanding debt all play factors in determining a rate.

Call for an up to the minute rate quote or monitor our "Rate Watch" banner on our home page located at www.AdvancedMortgageSolutions.com for daily rates.

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