Interest Rates Are Still Good!

With interest rates consistently climbing there is a lot of talk about the cost of borrowing. Although interest rates have gone up and seem to be continuing in that direction rates are still quite good! It is still a great time to buy. As an example back in January of this year you would have been able to get a 5 year closed term at 2.99% currently you are looking at around 3.44% for the same term. On a $300000 mortgage back in January your monthly payment would have been approximately $1410. At today’s rate the same mortgage comes with a payment of $1474 per month. So really…

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Terminology Tuesday – Are You Realty Pre-Approved? BEWARE of Ads That Say “Get Instant Pre Approval 24/7 – Why? Read and Find Out!!

There are many ads out there right now that are telling people to get Instantly Pre-Approved anytime, any day!!!  BEWARE, those ads are very misleading and can be very frustrating as well when you do to buy a house and find out the pre approval you have was just a pre qualification based on no information supplied to back up your application. A real pre-approval, or at least as best as you can really get if you have not placed an offer yet, is based on supplying the income documentation that will back-up your income type and also a credit check is done.  From that a Mortgage Broker…

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