Refinance - Home Financing - 2nd Mortgage - New Home Purchase - Home Improvement - First Time Home Buyers - VA Refinancing

Popular Terms 30 yr Fixed 15 yr Fixed 10/1 Arm 7/1 ARM 5/1 ARM 3/1 ARM 2/1 ARM 6 Month Libor Interest Only   Mortgage Rates Advantages The question, "Should I get a fixed rate or an ARM?" has puzzled every home buyer who has shopped for a loan. The ARM, of course, is an adjustable-rate mortgage whose interest rate can go up or down. By contrast, a fixed-rate loan locks in your rate for the life of your loan -- there's no need to guess as to where the rate will be next year or in 15 or 30 years. At first glance, an ARM looks like a heck of a good deal next to a fixed rate. The average ARM rate nationwide is usually less than the average fixed-rate. So far that looks like a no-brainer, right?	Mortgage Rates Low Mortgage Rate Quotes Mortgage rates are the driving factor that determines the monthly payments for home loans.& In 2010 home mortgage rates dropped to record lows and the housing market showed signs of recovering.& At Smart Home Mortgage Loans, our lenders specialize in providing low mortgage refinance rates. You can expect to get rate quotes from 3-4 competing home loan specialists from across the country. All our refinance loan specialists are dedicated to finding the best mortgage loan with the best refinance rates, terms and costs to meet your unique financing needs. Welcome Homeowners! Are you shopping for a low mortgage rate? Let Smart Home Mortgage Loans help you. We can save you time, money, and headaches with our free California mortgage rate quote service. Simply fill out our Mortgage Rate form below & you'll be on your way to finding the best mortgage rates offered in your local area. Even a small difference in a mortgage rate can make a big difference in your mortgage payment! Home Mortgage Loan Articles Mortgage Loan Applications Surge Mortgage Rates Rising as US Treasuries Stop Buying Mortgage Securities Mortgage Rates Up but Stay Below 5 Percent When FHA Streamline Makes Sense for Mortgage Refinancing We are here to help you clarify the often confusing mortgage loan process. Many of the pages you will find here are tailored with the mortgage consumer in mind. Armed with this valuable information, you will have the power to become a more informed consumer and pay less with your lower mortgage rate! Typical Mortgage Terms • 30-year Fixed Mortgage • 15-year Fixed Mortgage • 20-year Fixed Mortgage • 10-year Fixed Mortgage • 1-year ARM • 3/1 ARM • 3/1 Interest-only ARM • 5/1 ARM • 5/1 Interest-only ARM • 7/1 ARM • 10/1 ARM • 30-year Jumbo Mortgage • 15-year Jumbo Mortgage • 5/1 Jumbo ARM • 5/1 Jumbo Interest-only ARM • FHA Mortgage Typical Refinance Terms • 30-year Fixed Refinance Mortgage • 20-year Fixed Refinance Mortgage • 15-year Fixed Refinance Mortgage • 10-year Fixed Refinance Mortgage • 1-year ARM Refinance Mortgage • 3/1 ARM Refinance • 3/1 Interest-only Refinance ARM • 5/1 ARM Refinance • 5/1 Interest-only Refinance ARM • 7/1 ARM Refinance • 10/1 ARM Refinance • 30-year Jumbo Refinance Mortgage • 15-year Jumbo Refinance Mortgage • 5/1 Jumbo ARM Refinance Mortgage • 5/1 Interest-only Jumbo Refinance ARM • FHA Refinance Mortgage	Question: What is a lock-in? Answer: The lock-in represents the interest rate you choose and will be the interest rate used to factor your monthly payment. The lock-in secures the interest rate during the process of your loan approval as long as your loan is processed and closed prior to the rate expiration date. This date is given to you when you lock-in the rate. Question: What is the difference between a fixed rate and adjustable rate mortgage? Answer: With a fixed rate mortgage, the interest rate and payment remains constant over the life of the loan. Whereas, with an adjustable rate mortgage, the interest rate can either increase or decrease, based upon the terms of the loan. This could cause the monthly payments to increase in order to have the loan paid in full by maturity. Question: What is a convertible mortgage? Answer: A convertible mortgage allows you to convert your adjustable rate mortgage to a fixed rate mortgage for a flat fee during a specific time frame. This fee can range from $250 - $500 per lender. Question: What is a balloon mortgage? Answer: A loan with a fixed rate payment for the first five to seven years of the loan, then a lump sum payment is due on the balance of the loan at a specified date when the balloon loan matures. Question: What is a conventional loan? Answer: A mortgage not guaranteed by VA or insured by FHA, FMHA or State Bond Agencies.