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Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Mortgage Interest Rates Are Still Great! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment...

Low Interest Rates Have a High Impact on Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...

The Mortgage Process: What You Need to Know

What You Need to Know About The Mortgage Process What you need to qualify in today's market: Down Payment - Generally between 5-20% of the purchase price. However, many home buyers are putting down 10% or less - with some putting down as little as 3% Income Verification, Credit History & Asset Documentation - the paperwork needed to apply for a mortgage on the balance of the purchase price of...

The High Impact of Low Interest Rates on Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...

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