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Mortgage Loan Advice For 2014 Given In A New Loan Love Guide

SAN DIEGO, Jan. 16, 2014 /PRNewswire-iReach/ -- is a borrower advice website that offers valuable insights, quality info and connections to the top industry professionals in a casual and even entertaining packaging. The website promises that it is "NOT another boring, stuffy, "fall asleep in your chair" site about loans." The articles provided explain any advanced loan terms so that even a brand new home buyer can easily understand and benefit from them, yet also do not skimp on important details, making them useful for experienced home buyers as well. A recent article featured on the website takes a look at some of the changes the industry will see in the coming year and offers some useful mortgage loan advice for 2014.

The article says, "Twenty-fourteen is heading to be a strange year for mortgage rates and the mortgage industry. It appears to be full of contradictions. Nevertheless, certain economic basics are in play – supply, demand, and regulation. Overall, the mortgage industry will see the following changes. Based on lower housing inventory, the total dollar amount of mortgages will decrease in 2014. Mortgage rates will increase, as it is likely that the Federal Reserve will stop buying mortgage-backed securities to attract private lenders back into the market."

Loan Love also says, "Private lenders will come back into the market and as the number of mortgages increase, rates will rise. Five percent is still a low enough rate to keep buyers interested. Homeowners who are holding onto their property will sell as the market price of their property rises. These sellers will then become buyers, increasing the demand for mortgages. Lenders will carefully check mortgage documents to insure that they follow sound lending practices. Income verification and source of down payment will be scrutinized."

The article then goes on to give some advice for those who will be seeking mortgage loans in the year ahead. It says, "With tighter qualifications for mortgages a sure thing next year, the most important mortgage tips for 2014 are:

  • Shop for your mortgage
  • If you do not know any mortgage brokers ask friends, family and your realtor for recommendations
  • Check with the Consumer Finance Protection Board for any derogatory information on the broker you select
  • Prepare your documentation before applying – have tax returns, recent payroll stubs, recent bank statements available. Make sure all bills are current. Check your credit bureau reports."

The article ends by reminding consumers that, although the changes may seem like a bad thing, they really are there to protect borrowers from unscrupulous or ignorant lenders which might approve a mortgage for a borrower that will end up being a debt-trap for them. Borrowers should keep this in mind when going into the new year and heed the advice in the tips above in order to find the best loan situation for their needs.

For more information and home loan advice, please click here to read the full guide on

Media Contact: Kevin Blue,, 949-292-8401, [email protected]

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