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12 financial tips for 2012

Buying a home? Be on top of your game
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Buying a home? Be on top of your game

Numerous home purchases fail at the last minute because of mortgage-related delays. This is especially true for deals involving foreclosures and short sales.

A delay in closing your mortgage could not only kill your deal but also cost you your security deposit. That's why it's important to submit the documents requested by your lender as soon as humanly possible and frequently check with your lender to see how the process is going to avoid last-minute surprises.

Keep copies of the documents submitted to the lender, and have those ready to go in case any of the paperwork gets lost in the process, says Michael Becker, a mortgage banker with WCS Funding Group in Lutherville, Md.

"It's a good idea to scan your info and save it on a flash drive in case they ask for it again," he says.
-- Polyana Da Costa


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MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed, 0 point 4.32%  0.06 4.26%
15 year fixed, 0 point 3.36%  0.09 3.27%
5/1 ARM 3.37%  0.10 3.27%
 
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Product Rate Change Last week
30K FICO-based HELOC 4.74%  0.01 4.75%
50K FICO-based HELOC 4.51%  0.01 4.50%
100K FICO-based HELOC 4.24% --0.00 4.24%
 
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Product Rate Change Last week
60 month used car loan 2.86%  0.20 3.06%
48 month used car loan 2.79%  0.40 3.19%
60 month new car loan 2.94%  0.10 2.84%
 
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Product Rate Change Last week
1 Year CD 0.90%  0.02 0.88%
2 Year CD 1.02%  0.01 1.03%
5 Year CD 1.59%  0.01 1.60%
 
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Product Rate Change Last week
Balance Transfer Cards 15.71%  0.01 15.70%
Cash Back Cards 16.36% --0.00 16.36%
Low Interest Cards 10.91% --0.00 10.91%
 
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