Friday, March 2, 2018 / by Shane Anderson
With the interest rates going up daily, have you every thought how you can lock the lower rates in while you are looking for a home? Well Now you can. I have a lender that is doing exactly that. Here is how it works.
Apply for Financing, then the Operations Department will process the application
You have 30 days to view properties, negotiate potential home sales, and to sign the contract
When you present a valid property address within 30 days of the original lock date, they can lock terms to 75 days.
Call me today to find out more.
1610 Professional Blvd
Crofton MD 21114
Friday, February 2, 2018 / by Shane Anderson
With the economy doing better we have notices that the interest rates are slowly on the rise. As of January 31 2018 here are the rates you can expect when you buy a home. These interest rates can change daily.
30 Year Fixed: 4.375-4.5%
FHA/VA 4.0 - 4.25%
15 Year Fixed 3.625 - 3.75%
5 Year Arms 3.0 - 3.5% Depending on the lending
With that being said now is a good time to buy before the interest rates go any higher. I have a chart to help explain what happens when the interest rates go up.
If you are interested in learning more or want to know what programs are out there that can help just give me a call or shoot me an email. I have lenders on my team that can help answer any questions you may have. To understand more about what has been going on with mortgages you can go to http://www.mortgagenewsdaily.com/consumer_rates/832564.aspx
Tuesday, December 26, 2017 / by Shane Anderson
I get a lot of new buyers asking if they should be pre-approved for a loan first before starting to look for a home. You do not need to be pre-approved for a loan to start your search, but it is highly recommended.
When you get pre-approved for a loan it helps us know what price range your search needs to be in. If you have been pre-approved for a loan for $300,000 we do not need to look at homes in the $400,000 range. It also helps the lender know what loan programs you qualify for. This can determine the down payment you will need and any assistance programs you may qualify for. Getting pre-approved for a loan also lets us know how well your credit score is. Sometimes there are things on a credit report that the buyer did not know was on there, or they need to do a little work on their credit before they can be pre-approved for a loan. Finally when you find the prefect home we don ...