We came across some mortgage shopping advice that is worth taking a look at. If you’re shopping for a home, you’ll need to have your mortgage lined up.
Mortgage rates had been on track since the beginning of 2020 to be some of the best rates seen in a very long time. Rates continue on a low trend now, and have been hanging steady in the sub 3% range.
Now, a lender has announced rates at an unheard of low under 2%. There are a lot of things that factor into locking in a rate this low, and it may not be the best option for some homebuyers who are also shopping for a loan.
So, that advice we were talking about ran in this article from the Motley Fool. Considering the points system that lenders can rely on to lock in your best rate, it’s possible your upfront fees could be quite a bit more to get that potential 1.99% rate. It might even cost 3-4 times more in closing costs versus a mortgage at an already good 3% rate.
Here is that link again. Take a look and see what you think.
If you’re shopping for a home loan we can help steer you towards a great local lender. Pagosa Springs, Colorado has some terrific properties available on the market right now. We’d love to help you find your perfect place in Pagosa.
Our Brokerage firm has friendly knowledgeable agents, and Southwest Colorado realty experience spanning decades. In Pagosa Springs, Colorado, count on Pagosa Brokers Real Estate. We’d be happy to help guide you through the stages of home buying and selling!
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