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What’s more important, the best rate or the best price?!

Most every consumer knows how to shop for a mortgage in one fashion. Call a lender and ask about their rate and points. They then compare that to 1 to 3 other lenders and choose the lender that’s best. While I have many reasons to not choose a lender just on rate, that’s not the purpose of this dialog. So, for the time being, let’s just pretend that every lender is created equal and will close your loan with no issues. So what’s left? The rate right??? Wrong. Allow me to differentiate between the best rate and the best price. One thing that really good lenders do is actively manage the loan of their borrowers with attention to the markets and how the subtle moves will affect interest rates. The problem is that many loan officers couldn’t give you an explanation on what moves interest rates, not to mention the…

Can You Buy A Home with Less-Than-Perfect Credit?

Have you checked your credit score lately and slowly backed away from it? Credit scores can make or break your chances of getting approved to purchase a new home. If your credit score isn’t in the range of perfect—somewhere in the 700s—fear not! Even if your credit lies somewhere in the 600s, there are still a few ways to get approved. Before diving in to some of your best options, you may be asking—“Why not just go through my bank or a mortgage broker?” This is a valid option, but be wary. Banks have set overlays as an answer to low credit, meaning it will be difficult for you to move forward in buying a home. Alongside this, pricing bumps and a higher interest rate often accompany these overlays. Naturally, you don’t want to fork out more money than necessary, right? Here are some avenues to look into so you aren’t…