Wednesday, September 13, 2017

Home buyers guide to lowest mortgage rates in 2017

If you are a home buyer, whether you are buying a home for the first time or it's your next home. The following would assist you in looking for lowest rate or affordable home payment.


How much can I afford on my mortgage


Affordable mortgageAffordability on home payment is a combination of several factors. How much you earn. How much are your monthly obligations both current and predicting some of the cost that is likely to come such as growing kids? What your credit report looks like and all that combined would determine what program and rate you would qualify for.


Now comes the second part of our understanding.

Lowest rate for my mortgage


Banks have Niche products. Buyer can typically look for products within that particular bank. A buyer can talk to several banks to see what they have to offer and how they can assist the home buyer. So when you go to banks you are basically restricted to product types. Hence it’s advisable to speak to several banks and that could be time taking.

The second could be that you get hold off a broker. A broker doesn’t lend money directly but has access to several banks and lenders and their product. So their reach is far wider.


You must understand that brokers are also some times mortgage lenders. Meaning, they can either lend out of their own funds or get hold off a bank or lender that suits your need. Most people confuse that a broker typically means that they can’t lend which is not necessarily the case always.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154 

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