Don't panic! Regardless of what the market is doing, we can help you get an affordable mortgage! Here are the three simple solutions that can push your lower rate, even if rates creep higher.
1. IMPROVE YOUR CREDIT SCORE!
Generally speaking, the lower mortgage rates go to borrowers with the highest credit scores. Yet, there could be factors hurting your score that aren’t so obvious. That’s where we come in. We’ll advise you on ways to enhance your score and get the right loan for you.
2. LOWER YOUR LTV!
You may get a lower rate just by reducing your loan-to-value ratio (LTV). Your LTV is your loan amount divided by your current appraised property value. Your home may be worth more today, allowing you to borrow more against your equity while keeping your LTV low.
3. BUY DOWN YOUR RATE!
You can try reducing your rate by paying discount points at closing. It’s a form of prepaid interest. This can help you get a more desirable rate when prevailing rates rise. Call for details, we’ll show you how it’s done!