As mortgage rates continue to fluctuate with the economic ups and downturns in the USA, we thought this was a really good time to unveil the new mortgage rates search tool for our site visitors. It's handy, very easy to use, and quite informative - whether you live in Alaska or Florida or anyplace in between.

When you use this tool, you can select the target state for which you desire mortgage rates data (all fifty states are included), as well as the type of loan, amount of the loan, and whether you desire to purchase or refinance a home with the loan. The tool will then produce a list of companies offering the loan you seek - featuring the loan rate, APR, financial fees, and other pertinent information. It's a totally free service that even generates the links to the companies' websites.

ERATE offers a wide assortment of insights in its new "Home Buying Guide," which helps home buyers make good decisions about eligibility for home financing, real estate agents and much more.

Santa Clara, CA (PRWeb) April 2, 2007 - A new complimentary guide from ERATE offers home buyers numerous tips about everything from understanding pre-approval to how to work with real estate agents.

ERATE's "Home Buying Guide" is available at no cost at its website:
http://www.erate.com/home-buying.htm

"We want consumers to be as knowledgeable as they can be when they're saving and making a large financial decision," said Jeff Howard, CEO of ERATE (www.erate.com). "Our straightforward guide gets to the heart of issues they'll face with lenders and real estate agents."

Home buyers will learn a great deal from the guide, including:

• Understanding the difference between "pre-qualification" and "pre-approval


• When to see if you can afford a home


• Underwriting insights


• How to choose and work with real estate agents - often known as Realtors


• What motivates real estate agents


• Potential conflict of interests


• How home sale negotiations involve more than just price


• Lender selection factors


• Differences between banks, mortgage bankers and mortgage lenders


• Benefits of filing an application with more than one lender

The guide also includes links the many other financial resources ERATE has produced.

ERATE (www.erate.com) is comprised of experts within the mortgage loan industry. The founders have over 40 years of loan origination experience. In 1992 Loan World, which became part of ERATE when it merged with Progressive Capital in 2000, was the first mortgage lender to originate a mortgage over the Internet and in 1994 created the first online loan application.

ERATE is licensed with the California Department of Real Estate as a California Broker (DRE Lic. #01292265). ERATE is approved with many wholesale mortgage lenders and banks throughout the country; these lenders provide their best rates to compete with one another throughout our network.

Santa Clara, CA (PRWEB) March 22, 2007 -- Consumers now have access to a greater collection of specialized mortgage calculators and online financial tools than ever before through ERATE's website.

Their vast yet easy-to-use collection of tools covers everything from calculating mortgage payments, emphasizing different loan variables, to debt consolidation.

"ERATE is not just about providing great rates and a high level of customer service," said Jeff Howard, CEO of ERATE (www.erate.com). "Our goal is to provide consumers with information and resources they can use to manage and meet their real estate financing objectives. ERATE hopes to offer relevant, useful information that puts them in the driver's seat when making these important financial decisions. The consumer must be in control in order to make choices that best meet their own financial needs and interests."

An overview of nearly 20 calculators and tools is available here:
http://www.erate.com/calc.htm

Examples include:

- Monthly Mortgage Payment Calculator
- Interest Only Calculator
- Refinance Mortgage Calculator
- How Much Do I Qualify For?
- JAVA Mortgage Payment Calculator
- Debt Consolidation Calculator
- Mortgage & Bond Market Update
- Market Commentary

ERATE (www.erate.com) is comprised of experts within the mortgage loan industry. The founders have over 40 years of loan origination experience. In 1992 Loan World, which became part of ERATE when it merged with Progressive Capital in 2000, was the first mortgage lender to originate a mortgage over the Internet and in 1994 created the first online loan application.

ERATE is licensed with the California Department of Real Estate as a California Broker (DRE Lic. #01292265). ERATE is approved with many wholesale mortgage lenders and banks throughout the country; these lenders provide their best rates to compete with one another throughout our network.

2 Minute Form - No Soc Sec# - SAFE, SECURE and EASY!

Getting Started

- Why Refinance Mortgage?
- Mortgage Refinancing Closing Costs Explained
- Potential Tax Benefits
- Mortgage Refinancing Calculator
- Verify Your Credit Rating
- Refinancing FAQs
- Appraisal when Refinancing
- Wikipedia on Refinancing

Home Equity Loan Shopping: Tips and Types

To find the best home equity loan, you need patience, tenacity and a little bit of luck. More importantly, you need to remember what's at stake.

With a home equity loan, a personal loan borrowed against the value of your home, you are using your home as collateral. Finding a home equity loan that is inappropriate due to costs, fees, or other considerations puts your home ownership at risk.

In this article we look at some of the key considerations when shopping for a home equity loan.

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Interest Only Mortgage Rates

Quick Form - Get 4 Interest Only Rate Quotes!

Reduce your monthly mortgage payment by getting an Interest Only Mortgage

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On most refinances you can choose to have your lender pay for all your Non-Recurring Closing Costs. This is often referred to as a No Points No Fees (NPNF) Refinance. (Also commonly referred to as "No Fee Refinancing", "No Closing Costs Refinancing" or "Zero Closing Costs Mortgage".)

In order to get a No Points, No Fees mortgage you will need to accept a slightly higher rate than a normal No Points mortgage. Usually about .250% to .500% higher.

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ERATE offers you several mortgage calculators to help you answer important financing questions. There are a number of ways to approach an affordability analysis, and these mortgage calculators allow you to assess the effects of different variables when buying or refinancing a home.

Monthly Mortgage Payment Calculator
Allows you to explore the outcome of changes to your loan balance, mortgage term, and interest rate on your monthly mortgage principal and interest payments. One of the most useful and straightforward mortgage calculators available.

Interest Only Calculator
Although interest only calculations are extremely simple, calculators on the web for this calculation are all too rare. This calculator provides you with a quick glance at what your interest payment will be each month.

Refinance Mortgage Calculator
Should I refinance? Allows you to explore the pros and cons of refinancing your mortgage.

How Much Do I Qualify For
This calculator shows you how much income you need to buy a home, based on your income, mortgage payment and other factors.

Prequal CalcuLetter
Prequal CalcuLetter allows you to calculate how much home you can afford based on your income, debt, etc. Print out an instant Mortgage Prequalification Letter.

Credit Grade Calculator
Credit Grade Calculator displays your credit grade.

JAVA Mortgage Payment Calculator
This mortgage calculator displays your mortgage payment for the term of your loan and more.

Rent Vs. Buy Calculator
Rent Vs. Buy Calculator allows you to compare the costs of renting a residence and buying a home.

Debt Consolidation Calculator
Debt Consolidation Calculator can show you how to reduce your monthly payments and save money as well.

- Fixed Rate Mortgage
- Fixed Rate Balloon Mortgage
- Intermediate ARM's
- Traditional ARM's
- Second Mortgages
- Equity Lines