Buying a home is one of the most significant purchases made in a lifetime—one that often requires hundreds of thousands of dollars borrowed. A 1% reduction in interest could equate to tens of thousands in savings.
Especially in this historically low interest rate environment, the following tips will help minimize your interest rate and maximize your wallet.
1. Healthy Credit. The higher your credit score, the more likely a lender will offer you superior rates.
2. Low Debt-to-Income Ratio. The less debt you owe compared to how much you earn monthly, the more capital banks trust you will be able to pay your mortgage, and the better your interest rate.
3. Down Payment. The more you pay upfront, the lower your loan amount, risk, and interest.
4. Rate Shopping. Don’t settle for your first quote. Shop around and you might find a better rate.
Ultimately, the decision is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!
– Leron Grossman, Real Estate Broker & Investment Expert
VictoryRealEstateLLC.com | Office: 215-709-0909