mortgage rate
I’m buying my first house which i intent to stay in for many years. My question is , should I take a lower rate free and have a little larger mortgage OR should I pay a higher rate fee and have a lower mortgage.
Terry Says
I’m not sure those are the right tradeoffs. Check around and compare the best rates on a fixed-rate 30 year mortgage. You can do that at online places like Rate.com — or at your local bank or credit union.
You’ll get the best rate if you put at least 20% down. But since you are a first-time homebuyer, your state might have some great deals — depending on the zipcode in which you are purchasing. You’ll have to do a search.
And you might get help from this NerdWallet article for first time home buyers:
https://www.nerdwallet.com/m/mortgages/fthb-compare?utm_source=bing&utm_medium=cpc&utm_campaign=mr_mktg_paid_052323_purch_fthb:e:d:hi_bing&utm_term=1st%20time%20home%20buyer%20il&utm_content=c&mktg_hline=1254544056350379&mktg_body=78409143546227&mktg_place=kwd-78409337874716:loc-190&mktg_link=&gclid=353c70bd0c3718359750196c4641918a&gclsrc=3p.ds&msclkid=353c70bd0c3718359750196c4641918a
Do your research before shopping. And get pre-approved, which will help you make a deal, or even get a home at a better price.
