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XNET Real Estate Directory
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When applying for a mortgage, your credit score is vital. It will determine whether you can get a loan, exactly how much you can borrow, and how much that loan is going to cost you in interest over the life of the loan.
If your credit score is below the 550-580 range, it usually means you're a non-conforming borrower, and you may have to find home loan financing with either a sub-prime lender or get qualified for a Federal Housing Administration (FHA) home loan. In this article, we'll cover ...
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Lenders calculate mortgage interest rates on three major factors - down payment, credit history and the current economic market. Sometimes your rate is negotiable, and other times you may just have to settle for a higher interest rate. Keep reading to learn why your interest rate is high and how you can reduce it in the future.
Why is my mortgage interest rate high?
1. Low Down Payment
Typically, the lower the down payment, the higher the interest rate that will be required of the ...
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There are many economic and market forecasts and predictions, however the bottom line is if you want to buy your first home—there is no wrong time. There is because the motivation to buy is not determined by regional market conditions or by location.
Industry opinions, economic reports and investor speculation do not sway or predict when a particular individual will be ready to buy. For the great majority of folks, the most compelling reasons to buy a home are based on individual circumstances ...
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