Buying
Interest Rates are Moving Up
Rates are moving up.
It could just be reaction to the election but you never know. Talk to your lender about getting preapproved and your plans to find a home.
Without actually having an offer to purchase accepted, you can't lock in your rate. That means that you're vulnerable to whatever the rate market is doing and on a day to day basis, it can be volitale. It can cost you big $$.
Plan accordingly and protect yourself!!
...Getting Preapproved for Home Financing
If you're thinking about buying a home in 2017, it's time to take the steps and get preapproved. Find a good, reputable, LOCAL lender. If you don't have a lender, ask a friend, collegue, or trusted family member to make a recommendation. There are many avenues to take and this is the first, and most important. Arguably, finding a good Realtor to help you ranks right up there with the lender. A realtor is with you through the ENTIRE transaction: searching for the right home, the offer to purchase, home and testing inspections, financing, appraisal, and closing. I digressed. Regardless, knowing where you stand financially from someone you can trust is critical.
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