Comments on: Loan.com: A New Site for Mortgage Info http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/ personal finance that makes cents Fri, 16 May 2008 02:39:54 +0000 http://wordpress.org/?v=2.5.1 By: J.D. http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-79600 J.D. Tue, 20 Feb 2007 04:09:57 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-79600 Great question, Kevin. I'd been wondering that myself. You prompted me to dig a little on the site to find this: http://www.loan.com/mortgage-rates-sales/faq#RatesPricing Apparently the lenders who wish to participate have to pay a $500 deposit as well as a certain amount based on the number of clickthroughs. Great question, Kevin. I’d been wondering that myself. You prompted me to dig a little on the site to find this:

http://www.loan.com/mortgage-rates-sales/faq#RatesPricing

Apparently the lenders who wish to participate have to pay a $500 deposit as well as a certain amount based on the number of clickthroughs.

]]> By: Kevin http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-79599 Kevin Tue, 20 Feb 2007 04:04:08 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-79599 How is Loan.com monetized? Just curious. How is Loan.com monetized? Just curious.

]]> By: cakesy http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-77667 cakesy Fri, 16 Feb 2007 13:05:28 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-77667 I read the seciont on "How large you should make your down payment". Surely you should pay of as much as you can, because this reduces how much you need to borrow, which would reduce by a larger amount how much you would end up paying back (taking interest into account). The page suggests only paying 20% of maximum, and nowhere mentions this. Am I wrong? I read the seciont on “How large you should make your down payment”. Surely you should pay of as much as you can, because this reduces how much you need to borrow, which would reduce by a larger amount how much you would end up paying back (taking interest into account). The page suggests only paying 20% of maximum, and nowhere mentions this. Am I wrong?

]]> By: UncleOxidant http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76880 UncleOxidant Thu, 15 Feb 2007 19:32:05 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76880 I would tend to agree with triple-e. If you've currently got a fixed rate at a decent rate (rates were pretty good 3 years ago as I recall) then you're probably better off just sending in that extra amount each month to apply to the pricipal. That way if you do run into financial problems ahead which would make the extra 25% burdensome, you'll still be able to revert to paying the normal 30 year payment. The other thing to note about mortgages in general right now is that lenders are tigtening the standards quite a bit in response to the collapse in the subprime mortgage market (over 20 subprime mortgage co's have gone under since early December - it's turning into a real serious issue). There are implications for the 'prime' mortgage market as well. Basically, they're going back to more 'normal', pre-bubble lending standards. At any rate, it could become difficult to get your refi funded if they determine that you haven't built up enough equity or if you're self employed. I would tend to agree with triple-e. If you’ve currently got a fixed rate at a decent rate (rates were pretty good 3 years ago as I recall) then you’re probably better off just sending in that extra amount each month to apply to the pricipal. That way if you do run into financial problems ahead which would make the extra 25% burdensome, you’ll still be able to revert to paying the normal 30 year payment.

The other thing to note about mortgages in general right now is that lenders are tigtening the standards quite a bit in response to the collapse in the subprime mortgage market (over 20 subprime mortgage co’s have gone under since early December - it’s turning into a real serious issue). There are implications for the ‘prime’ mortgage market as well. Basically, they’re going back to more ‘normal’, pre-bubble lending standards. At any rate, it could become difficult to get your refi funded if they determine that you haven’t built up enough equity or if you’re self employed.

]]> By: Brian (dad to 3) http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76827 Brian (dad to 3) Thu, 15 Feb 2007 19:01:18 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76827 I clicked through to agree with you that flash is the root of all evil since it's way over used. But I see that Dorky Dad and The Tim had already beet me to the solution to your problem. It's amazing how much faster some webpages load when you block all the flash on them. I clicked through to agree with you that flash is the root of all evil since it’s way over used. But I see that Dorky Dad and The Tim had already beet me to the solution to your problem.

It’s amazing how much faster some webpages load when you block all the flash on them.

]]> By: The Tim http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76708 The Tim Thu, 15 Feb 2007 17:59:24 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76708 <i>One thing that bugged me was the flash-based video of a talking woman that appears on many pages. Yes, it’s clever, but I don’t want to be forced to watch her. I want the ability to get rid of her.</i> <a href="http://www.mozilla.com/en-US/firefox/" rel="nofollow">Firefox</a> + <a href="http://flashblock.mozdev.org/" rel="nofollow">Flashblock</a> = Problem Solved One thing that bugged me was the flash-based video of a talking woman that appears on many pages. Yes, it’s clever, but I don’t want to be forced to watch her. I want the ability to get rid of her.

Firefox + Flashblock = Problem Solved

]]> By: Dorky Dad http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76706 Dorky Dad Thu, 15 Feb 2007 17:58:31 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76706 To eliminate the annoying video of the talking woman, use Firefox and get the Flashblock plug-in. To eliminate the annoying video of the talking woman, use Firefox and get the Flashblock plug-in.

]]> By: triple-e http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76665 triple-e Thu, 15 Feb 2007 16:03:38 +0000 http://www.getrichslowly.org/blog/2007/02/15/loancom-a-new-site-for-mortgage-info/#comment-76665 If you have the ability to pay more in your payments, and your current loan is fixed and the same rate or better, why not just make the extra payment on the loan? Assuming there isn't a prepayment penalty (which if you have one, I am sure there are more problems with the loan). If you make the 15 year payments on a 30 year loan, it is done in 15 years. If you have the ability to pay more in your payments, and your current loan is fixed and the same rate or better, why not just make the extra payment on the loan? Assuming there isn’t a prepayment penalty (which if you have one, I am sure there are more problems with the loan). If you make the 15 year payments on a 30 year loan, it is done in 15 years.

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