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National Mortgage Rates 25 May 2012

Loan Type Today +/- Last Week
15 yr fixed 3.03 2.87
30 yr fixed 3.72 3.50
5/1 ARM 2.75 2.50

Rates may contain points

Use Twitter To Find A Home Or Mortgage

By:
JR Hevron - MortgageLoan.com

Though Twitter has a reputation as a huge waste of time, it can be a valuable tool for anyone shopping for a home or mortgage.

By now, you’ve probably heard of Twitter. Maybe you’re a prolific Twitterer, or maybe you’ve just heard the name thrown around by friends and relatives. Whatever your level of familiarity with the social networking application, you may not have realized that it can be a powerful tool for finding a home or mortgage.
 
For those who are unfamiliar, Twitter is a social networking and microblogging website that lets its members send and read 140-character messages called tweets. It’s a similar concept to Facebook, but much sleeker and faster and not weighed down with lengthy profiles, photos, and walls. Users are generally less restrictive about who reads their posts, so it is easier to access information from a variety of sources.
 
Like any social networking application, it can be used as a way to stay in touch with friends and family. The fast and free nature of Twitter makes it a great platform for staying on top of information and trends and a good way to get in touch with people whom you might not be able to contact otherwise.
 
If you are in the market for a mortgage or a home, it’s the perfect way to make sure that you work every angle and find out about the best deals as quickly as possible. One extra bonus is that it is easily accessed on most smartphones, which is especially useful if you need information while you are out looking at homes.
 
Some Uses
Here are a few of the ways that you can use Twitter to aid in a home or mortgage search:
  • Connect with realtors in your area
  • Find general mortgage news and links to websites
  • Locate mortgage experts to answer your questions
  • Get second opinions on homes or mortgages
  • Discover the best information on rates
  • Keep up with mortgage and real estate news
  • Directly find houses and rates through listings
  • Contact realtors or other professionals who you might not otherwise be able to get in touch with.
Getting Started
The best way to start using Twitter for a home or mortgage search is to check out some of the better Tweeters of relevant news and information. If you like what they have to say, subscribe to their feed. Then, check out their profile to see whom they follow and who follows them, as these Tweeters are often relevant as well. Also check out the users that Twitter indicates are similar.
 
Here is a list of useful Tweeters to start off with. Each name is hyperlinked to its Twitter page:
 
General news sites:
Bloggers and individuals:
@mark_madsen: A Las Vegas mortgage and real estate blogger with his finger on the pulse of the industry.
@TBWSD: A daily mortgage and real estate show hosted by Frank Garay and Brian Stevens.
@2mortgageguys: Mortgage news and links from two mortgage advisors.
@esaveMortgage: Quick hits on the mortgage market you would not get from the press.
@dankellermtg: Seattle-based mortgage banker with expertise in 203K FHA loans.
 
Finding Specific Information
Searching Twitter is a way to hone in on any specific information that you might need. Use the search function to look for terms like “mortgagerates” or “realtor.” Along with these kinds of terms, make sure to also search for your city or state to find local realtors and lenders.
 
Oftentimes, when someone posts on Twitter, they will tag their posts with terms like #realtor or #brooklyn. You can search tags to see if someone is posting about the kind of information that you are looking for. Again, search for terms like #yourcityorstate, #realtor, #mortgage, etc..
 
Twitter is made for starting conversations and unlike Facebook, you don’t have to be in someone’s network to talk to them. If you find a knowledgeable person and you have a question or want to work with them, just send them a direct message. You might be surprised at how quickly they respond.
 
While it might have seemed like a total waste of time at first, Twitter can be a powerful tool to help get you find the real estate that you are looking for. Someday soon, you might even be surprised to find yourself Tweeting friends and family about your new home purchase!  

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