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Finding a North Carolina mortgage lender that is right for you can be challenging.  Most mortgage lenders offer the same basic types of loans but with different rates and terms.  There are many ways to find a North Carolina mortgage lender.  Lenders can be found through the Internet, using a phone book, or simply by word of mouth.  Asking friends and relatives what kind of experience they’ve had with lenders can be very beneficial in narrowing your search.  Researching by phone or Internet be more thorough and can help you to get a bigger picture for what options are available. 

When choosing a North Carolina mortgage lender it is important to know what kind of loan you need.  Do you need a loan for a home?  Do you need a second mortgage?  Would an adjustable rate loan or a fixed rate loan better suit you?  Once you have answered these questions you can begin asking researching lenders.  For a person purchasing a home, both a fixed rate and adjustable rate loan may be available.  There are good and bad aspects to each kind of loan.  A North Carolina mortgage lender may offer you a very low adjustable rate that in the long run could climb much higher than a fixed rate.  You may however find this type of loan is best if you are planning to move soon.

An adjustable rate loan may also be beneficial when buying a property that will be rented out.  A North Carolina mortgage lender may also offer second mortgage loans.  The two types of second mortgage loans are equity lines of credit and home equity loans.  An equity line of credit is a set amount that you can choose to borrow in full or in part.  A home equity loan is usually one lump sum of money that you receive in full.  A second mortgage can be used for several purposes including home improvement, various investments, or simply a back up cash supply.  A North Carolina mortgage lender can offer you many kinds of loans for your many needs!

This Financial Services article was written by Michael Fansler on 7/18/2006

Michael Fansler is the president and CEO of his own home-based courier service. He has had 3 books published on entrepreneurship and how to succeed with a home-based business. His favorite website, and one he highly recommends for anyone interested in owning their own home based business someday, is