Apply Mortgage Online – Best Online Lenders

Apply mortgage online
Most realtors won’t take you on until you are preapproved for a home loan.

If you are in the market for a new home, before you call your real estate agent to begin the home search process you want to be preapproved for a mortgage loan.

It is a good idea to apply mortgage online, which is easy, convenient, and will also save you time, and money.

Most real estate agents will want to know right up front if you are preapproved for a mortgage loan. If you are not preapproved, a good real estate agent will advise you to start that process immediately.

Perhaps you have already been advised by a Realtor to find a good mortgage company.

As a former Realtor, I can tell you that I would not begin to send properties to clients, or show them homes until I knew that they were preapproved and ready to go, and for what amount were they preapproved for.

This not only benefits the real estate agent, but it also benefits you, the buyer.

There is nothing more frustrating than finding a home that you love, and want to buy, only to find out later that you can’t qualify for it.  Not to mention the wasted time, and the lost opportunities of homes that you would qualify for.

Of course the Realtor does not want to waste his or her time and money showing properties to clients that can’t get preapproved, or that won’t be preapproved for a high enough amount.

He or she also does not want to lose the chance to work with a buyer that is preapproved by spending time showing homes to someone that is not, and may not be able to be preapproved.

I will explain to you what the lenders or mortgage companies look for in order to preapprove you. I will explain the different types of mortgage loans.

I will also tell you why it is smart to find a mortgage company or lender online, and the best way to search for your mortgage company or lender online.

What Mortgage Companies or Lenders Want to See

Have you ever wondered what mortgage companies or lenders look at, and want to see in order to preapprove someone for mortgage loans?

Apply mortgage online
Lenders look at 5 different things in order to preapprove a client for a home loan.

There are certain things that these folks want to see from you the borrower in order to feel reasonably assured that you will be able to pay your mortgage on time every month.

1. Credit Score

Mortgage companies and lenders want to see a credit score of at least 620. They look at your credit score from the 3 main credit reporting bureaus, Trans Union, Experian, and Equifax. They take the middle score from these 3 credit reporting agencies.

For instance if your scores are 600 from Trans Union, 700 from Equifax, and 650 from Experian, they will use the middle score of 650 from Experian to count as your credit score.

Obviously, the higher your credit score, the better. As you go higher you will qualify for the best loans with the best terms, and the lowest fees, assuming of course, that the rest of your application checks out.

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2. Time on Job/Income

Lenders and mortgage companies want to see at least 2 years of continuous work experience, and ideally on the same job. And, of course, you need to be employed currently.

You can have more than 1 job, but it needs to be in the same industry, and there can’t be large gaps between jobs.

They also obviously look at how much money you make, and how you make it. A salaried job is given some preference over a variable income such as a commission, or hourly job.

If you are self employed you have to be in business for at least 2 consecutive years. Your proof will be your tax returns.

3. Debt

Lenders and Mortgage companies look at certain debt you have called mandatory debt. This is the amount of money you may owe for monthly credit card payments, monthly car loan payments, lines of credit, child support, alimony, other mortgages, and property taxes as a percentage of how much money you make.

It is acceptable to have no or little debt, but often times having no debt can hurt your credit score.

4. Down Payment

The more down payment that you can put toward your home mortgage, the better. This lessens the amount you will be borrowing, and will make it easier for you to pay the loan back.

You will have to show some proof of this down payment amount whether it be a bank statement, a gift letter, or proof of sale of an asset like a home, car, boat, etc. in an amount large enough to cover the down payment.

5. The Home or Property 

Although the home or property that you want to buy is normally not known when the preapproval process is started, it will become a factor before the bank actually fully approves the loan.

The mortgage company or lender will want to be sure that the property you want to buy is worth what you are paying for it. They will normally order an appraisal to be absolutely certain.

If your home choice does not ‘appraise out’ according to the lender’s appraisal, the loan may not be granted.

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Types of Mortgage Loans

Apply mortgage online
The most popular type of mortgage is the fixed rate.

Fixed Rate Mortgage: A fixed rate mortgage loan is by far the most common loan that is provided by lenders nationwide.

A fixed rate loan keeps the same interest rate throughout the loan. This means your monthly payments are steady and consistent.

The 30 Year is the most popular fixed rate mortgage loan. Loan durations of 15 year, 20 year, 40 year, and even 50 year fixed rate loans are also available with some lenders.

An  ARM or Adjustable Rate Mortgage, has floating or changing rate of interest.  An ARM, can fluctuate, unlike a fixed rate mortgage depending on various economic factors. The ARM is considered more risky than most other loans.

Two-step Mortgages:   A two step mortgage loan will have the initial period of time at a fixed interest rate percentage, and the second period of time at a different fixed interest rate percentage.

Such as, the initial 10 year term of the loan could have a fixed interest rate at 5%, and the next 10 year term could have a fixed interest rate at 6%.

Combination Mortgages:  These are mortgages that combine a fixed interest rate loan for a certain time period, and an ARM loan or another time period.

The interest rates, and time periods can very depending on the particular lender.

Balloon Mortgage:  A balloon mortgage usually has a fixed interest rate for a certain time period, normally with low monthly payments, and a balance, commonly a considerable amount or balloon amount due at the end of a certain loan period.

Click here for your one stop mortgage shop

Finding Your Lender or Mortgage Company Online

Apply mortgage online
Almost anything you can imagine is purchased online every day.

It makes a lot of sense to shop for a mortgage online. Ten or fifteen years ago, it may not have been advisable to shop for a mortgage online.

Today, however, almost anything and everything imaginable can be and is purchased online every day of the week.

All of the top companies in the world do business online, and the assurances and safeguards are in place.

It is easy to do your due dligence on any company easily through Google, and many other websites.

By shopping for a mortgage online, you can cover a great deal more ground much more quickly than if you set appointments, and physically drive to banks, mortgage companies, and other lenders in person.

You may have seen the television ad where the Muppet character tells his human friend that instead of putting on a suit and going to the bank, you can apply online with a few clicks, and the banks come running to me.

This is true. You can find information about loans such as interest rates, and fees, and apply to several of these lenders at one time.

This increases your chances of being approved. They will let you know very quickly in most cases, if you are preapproved or not.

You never have to leave the comfort of your own home, or office. You will save a considerable amount of time both while applying, and waiting to hear if you are approved, you won’t have to fight traffic, and even save a few dollars in the process.

 

The Best Way to Find Your Mortgage Online

The best way to find your mortgage online is to find a website that provides you the opportunity to fill out your information one time, and in so doing submitting to at least 4 or 5 different lenders at once.

You will need to know the type of loan you want, most people go for the fixed rate loan, and how long of a loan duration you would like, most people like the 30 year loan.

You also want to hear back as quickly as possible what you may qualify for, and from what company. In many cases, you can hear back within minutes.

At this point, it is a decision that you will need to make as to which mortgage company you want to go with.

This is when you will need to weigh loan offers based on reputation of the mortgage company, duration of loan, interest rate, fees, and points.

The online source that I recommend is Lending Tree. They will provide you multiple, reputable offers at the same time.

They also provide a handy mortgage calculator to calculate what your payment will be, so you will know what you can afford.  Click on the picture below.

 

 

 

 

 

Applying for a Mortgage Online is Fast and Easy

It’s a good idea to apply for a mortgage online. It is fast, convenient, easy, and can save you time and money.

Most real estate agents won’t show homes to clients that aren’t preapproved for a home loan.  You want to be preapproved so you know how much home you qualify for. This will keep you from being disappointed, and wasting your time.

Lenders want to see a minimum credit score of 620 in most cases. The 3 main credit bureaus are Trans Union, Equifax, and Experian.

Lenders take the middle score to arrive at your credit worthiness number.   They also want to see that you have a minimum of 2 consecutive years on the job.

Salaried jobs are preferred over hourly, self employed, and commission type jobs.

Having debt is acceptable, but too much debt in relation to how much you make can be problematic.

The more down payment you can put toward your home the better from a lender’s perspective.

You want to pick a home that is worth what you are offering to buy it for, or the bank may nix the deal with their appraisal.

The most common type of loan is the fixed rate loan. The most common fixed rate loan duration is for 30 years.

Other types of loans are the ARM, adjustable rate mortgage, the two step mortgage, the combination loan, and the balloon mortgage.

Almost anything you can  imagine is purchased online today. A home loan/mortgage is no exception. Make sure you choose a reputable lender.

Applying online is a breeze compared to the old way of dressing up and going from bank to bank or lender to lender to apply for a home loan.

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What is the Best Handgun Safe

What is the best handgun safe
Securing your firearms is commendable.

What is the best handgun safe?

You are to be commended for realizing the danger of keeping a loaded handgun in the house unprotected.

A handgun safe will provide protection for your children, your spouse, and even yourself from your handguns. A handgun safe will also provide protection from theft of your handgun or handguns.

And the right handgun safe will also provide you quick access to your protected handgun should you need it in a crisis situation, or any situation for that matter.

My name is Tom. I have been in the safe business for going on 20 years. I know what makes a great handgun safe, and what doesn’t.

I will explain the dangers of not having a handgun safe to secure your handguns, pistols, or sidearms.

I will also explain to you what makes a great handgun safe, and why. I will also tell you the type and brand of handgun safe I recommend, and the best place online to buy it, should you be so inclined.

Why You Must Secure Your Handguns

What is the best handgun safe
Children playing with loaded handguns can end in tragedy.

On average, 10% of households that own guns that have children younger than 18 years old, keep a loaded and unlocked firearm.

Sadly, every day in the United States alone, 8 children are shot by unsecured firearms in the home. Ironically, most people keep their loaded guns in a drawer or unlocked closet for easy and quick access in order to protect their children and spouses, yet it can cause tragic consequences.

Had these folks just taken the next step to simply secure their firearms in a gun cabinet or a gun safe, these accidents could have been avoided.

In addition, many burglaries, and other home invasions result in unsecured handguns, and other firearms being stolen.

After all, we don’t want our lethal firearms to go from legal gun owners hands to illegal, criminal gun owners hands.

Not to mention the added expense and hassle you will face of having to buy more guns to replace those that were stolen.

A good handgun safe will provide you safety, security, and quick access in your home, your car, your boat, and your RV.

Click here for great handgun safes

What Makes a Great Handgun Safe

What is the best handgun safe
A great handgun safe has 3 important features.

There are 3 components to a great handgun safe.

1. Quick Access  Your ability to access your handgun quickly in a crisis situation is vitally important. If someone breaks into your home in the middle of the night while you and your family are in bed, you must be able to get to your firearm quickly.

It is also very important that you don’t bring attention to yourself by using lights or making noise by stumbling around or jangling keys trying to get into your safe or lock box.

You want your handgun access to be within arms length on the floor or in a drawer or nightstand. This will allow you to gain entry to your handgun safe within seconds, and in a quiet and covert manner.

2. Dependable Access Because you never know when you might need your gun quickly, you must be able to depend on your ability to get to your handguns quickly without fail every time.

The biometric, and fingerprint locks which allow you to open your handgun safe by simply inserting your finger or hand are great for quick access. These locks also eliminate any chance for others to get into your safe through conventional means.

These biometric/fingerprint locks do have some negative features however. The fact that they are electronic, and need a power source to operate means that it is possible for these locks to fail at that critical moment when you need it to work most.

Even with an A/C power source, and a battery back up, it is still possible for it to fail during crunch time, if you will allow me a sports terminology.

Although unusual, the complex biometrics can also fail which also detracts for the locks overall dependability.

If you work with your hands, and cut or scrape your fingers, your biometric lock may not recognize your fingerprints, and can, and often do fail, as a result.

Some biometric locks may also include buttons to press prior to allowing access. These locks can make beeping noises, and draw attention to yourself, which you would not want in the middle of the night in a silent house that has an unwanted visitor creeping about.

Due to these shortcomings, I can not recommend a biometric lock as the best lock for a great handgun safe. The best, most dependable lock is a good simplex pushbutton mechanical lock.

You can depend on this lock to work for you without fail when you need it most. It’s simple mechanical push button design has fewer parts to go bad, and needs no power source at all to operate.

No worries about changing a battery or plugging in an A/C power source like with the biometric lock.

You may lose a few seconds in access time compared with the biometric lock, but the simplex pushbutton lock’s dependability trumps that of it’s competitors.

3. Secure Construction  You want a solid steel gun box with at least one bolt hole for secure bolt down to a floor or to the inside of a nightstand, or a cabinet.

These pre drilled bolt holes will also allow you to secure your handgun safe inside of a larger gun safe, if you so choose. You also want your handgun safe to be very difficult to be pryed or hammered open.

A well made, sturdy steel, pry resistant, bolted down handgun safe will keep your handguns in place, away from unwanted visitors, and give you many years of dependable service.

This will greatly decrease the chances of your safe, and handguns from being opened and accessed by others

Best Handgun Safe

The one handgun safe that checks all the boxes, and in my opinion is the very best handgun safe on the market is:

What is the Best Handgun Safe
The Fort Knox PB-1 Handgun Safe checks all the boxes.

Fort Knox PB-1 Original Pistol Safe (FTK-PB)

This sturdy handgun safe has:

  • 10 gauge steel body
  • 3/16″ steel wraparound, pry resistant door
  • 4 pre-drilled bolt holes in bottom of safe for anchoring
  • Simplex push button lock for quick access and dependability
  • Inner hydraulic arms ensure smooth opening and closing
  • No electronics to support or cause failures
  • Large interior capacity with 2 layers of foam for ample storage
  • Lifetime Fort Knox warranty

SPECIFICATIONS:

  • 4 1/4″H x 12 1/2″W x 10 3/8″D
  • 22 lbs.

Check out the video on the Fort Knox PB-1 below.

Click here to buy the Fort Knox PB-1

 

Best Place to Buy the Best Handgun Safe

The best place to buy the best handgun safe, the Fort Knox PB-1 Handgun Safe is gunsafes.com

Gunsafes.com offer low prices, free shipping, order tracking, online or phone orders, 100% secure website, 30 day return policy,  no sales tax except in Idaho, and Florida.

They are an English speaking American company, great customer service, wide selection of gun safes and accessories, sporting goods, and related items. A real person will answer the phone during business hours if and when you call.

Click here for more info on the Ft. Knox PB-1

Congratulations!

You are to be commended for your decision to protect your handguns, and in so doing, protect your family.

10% of households that own guns that have children under the age of 18, keep a loaded and unlocked firearm in the home.

Every day in the U.S.A, 8 children are shot by an unsecured firearm in the home.

These potentially tragic events can be avoided by utilizing a gun cabinet, or a gun safe.

A good handgun safe will allow you quick, dependable access, be constructed of heavy duty steel and provide pry resistance.

The best lock for your handgun safe is a Simplex push button lock which allows for quick, and very dependable access.

You also want your handgun safe to be pre drilled to allow for anchoring to a floor or other surface.

The best handgun safe that checks all the boxes is the Fort Know PB-1.  The Fort Knox PB-1 has a solid steel body, and door, and is designed to be pry resistant.

The door is controlled by a Simplex push button lock for quick, dependable access.  The bottom has 4 pre drilled anchor holes for ease of bolt down. It also has a large interior, and a lifetime warranty.

The best place to buy the best handgun safe, the Fort Knox PB-1 is at gunsafes.com

Gunsafes.com offers low prices, free shipping, and a wide selection of handgun safes, and accessories.