Buying Mortgage Leads, Three Things To Consider

The time comes for all mortgage brokers and loan officers to consider spending some of their hard earned money by testing the waters of mortgage leads.



After all, leads are the name of the game.



If the time is right for you, it is important to do you research, remember, you are testing the waters, not diving right in. Investigate as many lead companies as you can before you decide which one is right for you.



Equally important is the lead itself, while doing your research, consider these three things about the type of lead you will be getting.



Where did the lead come from?



Speak with a representative from the lead company to determine where the leads are being generated from. Lead companies use different methods for obtaining their leads. Some of the more common ways lead companies generate leads is through e-mail campaigns, advertisements on search engines, directing potential customers to web sites that they own, and purchasing leads in bulk from other companies.



Is the lead fresh or recycled?



Some lead companies sell their leads in what they call "real time," which means the leads are fresh, usually no more than a day old.



A recycled lead, is a lead that a company will sell multiple times, or they are buying their leads in bulk at a cheap price and reselling them for a profit.



Not to say one is better than the other, the reason being, the difference in price.



A fresh lead will undoubtedly cost more than a recycled lead. It all depends on what you are looking for, quality or quantity.



If the lead is bad, will you get your money back?



Make sure you are 100% confident that the lead company you are dealing with has a fair return policy.



Most lead companies have software in place, or verify the lead before they sell it to weed out any fake, or bogus leads. But even with these barriers in place, it is not unusual for one to slip through the cracks. If you receive a bogus lead, there is no reason why you shouldn't get your money back.

Mortgage Calculator or Amortization Table?

Both a mortgage calculator and an amortization table can be used to find out the monthly payment required on the property you would like to buy, but they approach the calculation differently.

Although they have similar functions, the mortgage calculator and the amortization table each have their own place in your mortgage control system.

Mortgage calculators range from ones that calculate a simple loan, to those that can work out exactly how much you can afford, to those that will determine how much you can borrow for a home loan depending on your current situation.



Mortgage calculators are a good way for you to get a general idea of what you need.

An amortization table, on the the other hand, is an extensive spreadsheet of every detail of each type of loan, length of loan, interest rate, and many other factors that can confuse a novice.

A mortgage calculator may not give you as much information as an amortization table, but it may present basic information clearer and quicker. Once you have a good idea what you want in a loan, then an amortization table can help you delve deeper into the long-term ramifications of the loan.



They can be used separately, but their strength lies in a combination of both to enable a closer watch of the financial picture of your mortgage.

Karen Kirby has over 25 years' experience in the computer industry, an MS in Computer Science, and a BA in Honors English. She has been helping people with Internet marketing since 1995. For more information on mortgage
calculators and amortization tables see http://mortgage-calculators.eworldrewards.



com/mortgage-loan-amortization-and-mortgage-calculators.htm and be sure to get a free copy of the "Internet Marketer's Guide to Free Traffic" at http://www.aimbright.com/ebook/

Copyright 2006 - Karen Kirby. All Rights Reserved Worldwide.

Article Source: http://EzineArticles.com/?expert=Karen_Kirby

Mortgage Refinancing - Counting The Costs

Mortgage refinancing means paying off your existing mortgage with a new loan, using the same property as collateral. The amount you'll save by refinancing will vary depending upon current interest rates, refinancing costs and tax consequences.



Mortgage refinancing makes sense if Interest rates have dropped more than two points since you got your original mortgage, or if you want to change from an adjustable-rate to a fixed-rate loan to avoid future interest hikes.



As to the costs of mortgage refinancing; expect to pay between three and six percent of the mortgage, plus any prepayment penalties you might incur by paying off the existing loan. Below are some of the fees and charges you are most likely to encounter. Costs vary widely from state to state and loan to loan. These numbers are average estimates only.



Application Fee ($75 - $300): This charge covers the initial costs of processing your mortgage refinancing request and checking your credit report.



Bad credit will result in a higher interest rate.



Appraisal Fee ($150 - $400): This fee pays for an appraisal which is a supportable and defensible estimate of the current market value of the property.



Attorney's Review Fees ($150 - $300): The lender will usually charge you for fees paid to the lawyer or company that conducts the mortgage refinancing closing. Settlements are conducted by lending institutions, title insurance companies, escrow companies, real estate brokers and attorneys for the buyer and seller.



You may want to retain your own attorney to represent you at all stages of the mortgage refinancing transaction.



Loan Origination Fees (Usually 1% of loan): The origination fee is charged for the lender's work in evaluating and preparing your mortgage refinancing.



Points (1% of loan): Points are prepaid costs imposed to increase the lender's yield on the loan. Paying points can lower the interest rate, which will lower the monthly payments.



Some lenders will roll the points into the loan. The downside is that the borrower will be paying interest on these fees over the life of the loan.



Private Mortgage Insurance (PMI) Usually 0.5% to 1.0% of loan): PMI is required when the amount of the mortgage is greater than 80% of the home's appraised value. This insurance protects the lender against loss if the borrower defaults on the loan.



Title Search and Title Insurance ($450 - $600): These cover the costs of examining the public record to confirm ownership of the real estate, and the costs of a policy insuring the policy-holder for any loss caused by discrepancies in the title.



Be sure to ask the company carrying the present policy if it can re-issue your policy at a re-issue rate. This could save you up to 70% of what a new policy would cost.



FREE Refinancing Quote

Applying for refinancing is easier than getting a first mortgage. Much of the process can be done online. You can get a free, no-obligation quote from a leading mortgage provider at Easy Mortgage Refinancing.



Many homeowners get their mortgages, make their payments and don't think about refinancing. They wind up paying more than they have to for their homes.



Don't make the same mistake.

Why Take Your Business Online?

There are many of reasons why it is a good idea to take your business online, to name few:

1. Enhance Business Credibility

Nowadays, with the internet evolution, if your Business does not exist online, it is more prone to losing credibility and competition in market place.

2. Enhance PR

Having 24/7 access to important information about your business, contact info, products list …etc is a very powerful PR tool that your business can benefit from. Also, having free useful information for your clients' knowledge enrichment makes your website a valuable community resource; which means that more traffic will be driven to your website.



3. Increase Profit

Having more online traffic leads to more profit!

4. Interesting Statistics

According to yahoo search engine, "88% of adults who purchase items online conduct some sort of online research at least sometimes prior to completing their purchase." Accordingly, US businesses' online marketing increased by 23.3% and newspaper marketing dropped by 0.9% in the past year - according to Entrepreneur Magazine, August 2006 (Source: Nielsen Monitor-Plus). Also, "Online Retail Spending is expected to grow from $877 per US consumer in 2005 to $1,512 in 2009 - Entrepreneur Magazine, August 2006.



All the above figures show that being online actually enhances businesses reputations and most importantly brings profit. Also, considering the fact that these numbers are expected to increase in the following years, it is time to start the online investment (For online investment tips, click here).

Last, but not least, another powerful statistic that you need to be aware of is the number of searches conducted on a specific key word every month. Here is a Tabulated example:

Keyword: Restaurants

Search Count in Feb 2007: 8,209,545

Keyword: Cell Phones

Search Count in Feb 2007: 4,181,697

Keyword: Insurance

Search Count in Feb 2007: 3,148,492

Keyword: Real Estate

Search Count in Feb 2007: 3,057,037

Keyword: Mortgage

Search Count in Feb 2007: 1,703,104

Keyword: Title Company

Search Count in Feb 2007: 215,593




Search Count: is the number of searches done on that specific word or topic

This digit reflects the volume of potential clients that your business can have once it is provided with the right Web Solution.



A successful web solution is attractive website design that stands out and is coded with SEO (Search Engine Optimization) in mind. Applying SEO to your website gives it a higher chance to be listed in the first page of search engine results when a related key word is typed. In other words, your business will be exposed to millions of people every month - as shown in the table above.

To know the search count for a specific keyword or business, simply send us an email to: SearchCount@Whirlpointmedia.



com and we will get back to you within 24 hours - This is one of the free services that we offer to help your business grow. Visit our website www.WhirlPointMedia.com to learn more about our Affordable Website Solutions.