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Here are some facts every applicant should know about fast mortgages.
When some people apply for fast mortgages, they are under the mistaken impression that interest rates depend solely on market conditions.

Facts about Fast Mortgages

The more you know about fast mortgages, the more informed your decisions as a borrower will be. Here are some facts every applicant should know about fast mortgages.

Your Interest Rate Will Depend on Your Credit

When some people apply for fast mortgages, they are under the mistaken impression that interest rates depend solely on market conditions. In other words, if interest rates in general are low, some applicants assume they will automatically be privy to these rates. However, more than just current market interest rates will influence the APR of fast mortgages. Your credit will also have a profound impact on the interest rate of your mortgage. The higher your credit score, the lower the interest rates will be on fast mortgages. This is why it's a good idea to check your credit report and your credit score before applying for fast mortgages.

Larger Down Payments Aren't Required, But They Help

Because we partner with such a diverse network of lenders, you can probably find a lender that can offer you fast mortgages even with a down payment below 20%. Especially if you have a good credit score, many lenders will allow you to make little to no down payment on fast mortgages. However, you are better off making as large of a down payment as you can for several reasons. First of all, a larger down payment can help you lower your total interest expense and qualify for a larger loan. Secondly, a down payment of at least 20% will save you from having to purchase PMI (private mortgage insurance), which is a considerable monthly cost tacked on to your mortgage payment.

Not All Mortgages Are Created Equal

Our lenders offer many different types of fast mortgages to meet the needs of our visitors. The most common types of fast mortgages are fixed-rate and adjustable-rate loans. Fixed-rate fast mortgages come with a stable interest rate and monthly payment for the life of the loan. Adjustable-rate fast mortgages usually come with a low, fixed rate initially, followed by a fluctuating interest rate for the remainder of the loan's term. Which mortgage is right for you will depend on your comfort level with risk and the expectations for interest rates in the future. If you expect interest rates to increase in the future, fixed-rate fast mortgages are probably your best bet. On the other hand, if you would like the lowest initial rate possible and expect interest rates to decrease in the future, adjustable-rate mortgages might better serve your needs. If you have any questions, please visit our mortgage FAQ page!

Your credit will also have a profound impact on the interest rate of your mortgage.
Because we partner with such a diverse network of lenders, you can probably find a lender that can offer you fast mortgages even with a down payment below 

20%.
Our lenders offer many different types of fast mortgages to meet the needs of our visitors.
Which mortgage is right for you will depend on your comfort level with risk and the expectations for interest rates in the future.
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If you expect interest rates to increase in the future, fixed-rate fast mortgages are probably your best bet.