|
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 301-424-0900 Ext.136.
|
Sign Up For My eNewsletter, FREE!
There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
Find Out More >
View All Offers >
|
DEDICATION
"...You exhibited understanding, patience and dedication in helping me find this beautiful home."
Andrew Greenleaf
Read Quote >
View All Quotes >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
Thomas Powers is one of The Top
Selling Real Estate Experts™
Find Out More > |
|
|
 |
 |
Special Offers: Special offers for Rockville and Kensington
homeowners from Thomas Powers, top Realtor |
|
Affiliates: Thomas Powers' real estate web site affiliates |
|
eNewsletter: Thomas Powers' Rockville and Kensington newsletter email will send
you the latest real estate information |
|
Today's Real Estate News: Daily real estate news for this neighborhood, Maryland, and United
States |
|
Market Conditions Report: Market conditions report for this area, Maryland, and United
States |
|
Monthly Payments & Schedule: Monthly loan payments java
mortgage calculator |
|
How Much Can You Afford?: Calculate how much home
you can afford with this financial calculator |
|
Determine Tax Savings: Calculate how much your
monthly Rockville and Kensington Maryland mortgage payments save you on your
taxes because of loan interest |
|
Should You Rent or Buy?: Is it better to rent a
home in Maryland or buy your own Rockville and Kensington house, ranch, luxury
property, condominium, acreage, or other real estate? |
|
Adjustable Rate Mortgages: Adjustable rate Rockville
and Kensington mortgages information and interest rate java
calculator |
|
What Is Your APR?: Determine the Annual Percentage Rate (APR) for your mortgage. |
|
Fixed or Adjustable Rate Mortgage?: Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
|
Are Balloon Mortgages For You?: Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers. |
|
15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms. |
|
How Much Should Your Income Be?: What income is required to qualify for a mortgage? Use this calculator to find out. |
|
What's Your Maximum Mortgage?:This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount. |
|
Will Buying Points Save You Money?:This calculator helps you determine if you should pay for points, or use the money to increase your down payment. |
|
TripleCalc: FREE Software Download: TripleCalc lets you compare three loans at
one time for your property or other Maryland real estate |
|
Top National Real Estate Web Sites: Real Estate Web Sites
that include some unique sources of realty information, listings, and
more |
|
Ask Anything: Ask Thomas
Powers anything real estate |
|
NUMBER1EXPERTS: List of all the NUMBER1EXPERT real estate agents and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale |
|
Real Estate Tips: Thomas Powers' realty library of real
estate tips and advice on everything from preparing your home for sale to
negotiating with home buyers to escrow, closing costs, property inspections,
and mortgage brokers |
|
Real Estate Trivia: Thomas Powers' collection of real estate trivia questions and answers
that include real estate topics such as the most expensive home, largest
swimming pool, and more |
|
Real Estate Dictionary: Complete real estate
dictionary and glossary of realty words you'll use when you list and sell your
Rockville and Kensington property in Maryland, including legal terms
definitions, and more |
Please Sign Up For The
Latest Listings and the Latest Real Estate News
Interest Rates >Locking in Loan Rates It is important for both new homebuyers and homeowners who want to refinance to understand how to lock in an interest rate when applying for a mortgage loan. Understanding how rate locks work prepares you to evaluate your options.
While you are in the process of applying for your mortgage loan, interest rates will most likely fluctuate from day to day and week to week. If you want assurance that the wonderfully low interest rate on your loan will not increase while you are waiting for loan approval, ask for a rate lock. A conventional rate lock is a guarantee from the lender that your mortgage will carry a particular interest rate, with specific, predetermined points and fees.
The interest rate is "locked in" for a specified period of time, usually thirty days. When you call a lender for a rate quote, ask how long that rate will last for. If you think you might need more than thirty days to complete your home purchase or refinance, tell your lender how many days you will require, and they will give you an adjusted rate quote.
Rate locks are especially useful if interest rates are on the upswing, and you are concerned about ending up with higher monthly payments. If you cannot afford the risk of a further interest rate increase, lock in your loan rate now.
|
|
|
|
- NUMBER1EXPERT™ 
