Because home loans are so difficult to get in today’s market, most people simply jump on the first package they’re approved for. This leads to a high monthly payment, a high interest rate, little equity, and a property that’s underwater in only a few years. What most fail to realize is that the power is still in their hands.

Even though mortgage companies are eerily similar, that doesn’t mean they’re all carbon copies of each other. They cannot survive without your business. How would they sell mortgages off to the bigger guys if they’re not giving them out in the first place?

 

Buying Power

What this means, to put it simply, is that you have the buying power as a potential homeowner. Never let anyone tell you that you don’t. Sure, you’ll still have to go through all the steps and jump through the many different hoops, but the low interest loans are out there if you know where to look and how to look.

 

Process

Before we discuss a couple of different lenders you can check out, it’s more important to inform you of the process. You want to comparison shop above all else. Of course, tie up your loose ends and do what you can to stand out to a lender.

But at the end of the day, you can tell the lender that you’re thinking about going elsewhere. You’d be surprised at how quickly they’ll manually tweak the numbers to keep you on board if you qualify.

 

Citi Mortgage

Citi Mortgage, the lending arm of Citi Bank, is currently offering some of the lowest home mortgage interest rates out there today. Be warned, though, that these rates are for a limited basis only.

But if you are approved right now you can receive a solid 30-year fixed rate plan for only 3.097% APR. The same holds true with Mortgage Loan. This is basically a company that will get you a mortgage from another company for around 3% APR on average if you qualify.

Tip:You shouldn’t expect anything under 3%; that’s just unrealistic. But if it’s any higher than the lowest you can find, then you know to stay away from it.