National City Mortgage

National City Mortgage is another company that is frequently searched for on the Internet. This could be in part because National City Mortgage is a national lender with a 50-year history through its affiliation with National City Bank.

The National City Mortgage website says: "National City Mortgage is a division of National City Bank of Indiana. We have worked hard since 1955 to become respected professionals that thousands of homeowners trust for one of the biggest financial decisions in their lives."

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The site goes on to state: "National City Mortgage is a unique mortgage lender with the financial strength and stability that make us the 9th largest mortgage originator in the nation. This ranking was earned in fiscal year 2003, when we funded over $105 billion."

National City Mortgage doesn't have as good a site as some other lenders, in our opinion. The site is a bit cluttered, and a bit more difficult to easily find what you are looking for. However, like many other lenders, it does allow you to pre-qualify and apply online for mortgages. This can save you a lot of footwork, and should allow you to compare the kinds of interest rates and options that you could get from different lenders.

It also provides a lot of good information, including a review of the payment options available through National City Mortgage. Knowing the kinds of payment options up front can help when you are comparing between one company and another.

In some cases, especially if you are expecting a yearly bonus or other "windfall", your payment options can be just as important as your interest rate. Just try not to sacrifice one for the other. When in doubt, always get the lowest interest rate possible, and then negotiate the best payment options on top of that.

Is this the lender for you? Check out their website. Be sure to understand whether they are offering you the right payment options coupled with the right interest rate. And also shop around. Given that your mortgage is the biggest debt you are ever likely to have you need to consider the interest rate carefully. Even a percent off your interest rate could save you thousands over the longer term.

Mortgage Guide 101. Used with permission. See