Jeffrey Appel's top 4 ways to get a better deal on your mortage
Eye on Real Estate's own Jeffrey Appel knows the mortgage business inside and out. If you have questions about your mortgage, how you can get a mortgage, or what kind of deal you've gotten, Jeffrey can help.
Getting ready to get a mortgage? Here are Jeffrey's top 4 ways for you to get a better deal!
1. Clean up your credit. Now more than ever, credit scores may determine whether or not you will qualify for a loan.
2. Save up for your down payment & reserves. If you can put down at least 20% of the price of the home and still have money in the bank, there will be a lot more mortgage options available to you.
3. Be prepared to document your income and assets. Lenders will look much more favorably on your loan package if you provide verification of your income and assets.
4. Don’t wait for prices to come down. The real estate market in the metropolitan area has been largely flat. Right now rates are still comparatively low, but they are volatile. A decrease in sales price may not offset an increase in interest rates, and you may end up with a higher monthly payment.
Still have more questions? Call or or chat with the show!
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