Frequently Asked Questions
Here are the answers to the most commonly asked questions about Mortgages Explained.
What is Mortgages Explained?
Mortgages Explained is a site dedicated to the dissemination of information about mortgage loans and the homebuying process. We are also a free referral service that matches our visitors with lenders that can provide free quotes on home loans. Our goal is to inform you and provide you with affordable offers on mortgages.
How can I get quotes on mortgage loans?
Getting quotes on Mortgages Explained is simple. All you have to do is complete our sign-up form, which will ask for your contact information only. Once we have this form, we'll give you at least four quotes on mortgages from different lenders. You can compare these offers to find the loan with the best rates and terms. If you find a loan you'd like to apply for, you can do so on the lender's website. Alternatively, you can also save the quotes and come back to our site whenever you like.
What kinds of mortgage loans do your lenders offer?
Mortgages Explained collaborates with a diverse network of lenders. Our lending partners can offer you just about any type of mortgage loan you need. The most popular offerings are fixed-rate mortgages, adjustable-rate mortgages, and home refinancing loans.
Do your quotes come with any obligation?
No, our quotes are completely free and come with no obligation. You can view offers from our lenders without having to make any commitments.
Should I get an adjustable-rate or a fixed-rate mortgage?
The answer to this question will depend on your personal circumstances and the expected behavior of interest rates. Usually, adjustable-rate mortgages can offer the lowest initial interest rate, but they tend to be riskier and harder to plan for than fixed-rate loans. Fixed-rate mortgages are usually a good idea when you expect interest rates to rise in the future. If you want the consistency of a stable monthly payment and interest rate, a fixed-rate mortgage is probably the better option.
Can I get a home equity loan through this site?
Yes, Mortgages Explained lenders can also offer home equity loans, also called second mortgages. These loans allow you to borrow against the equity you've built in your home, which is the difference between the value of your home and how much you owe on your current mortgage.
Make sure you are ready for a mortgage before you apply for one.
