Interest Rates At All Time Low!

Although we hear over and over the bad news about the economy, there is actually good news for qualified home buyers.  If you are entertaining buying a new home, or perhaps thinking about refinancing your current mortgage, you can now lock in some unbelievable interest rates.  But, this time around, lenders are being more specific and detail oriented in checking credit scores, income and your home's value.  The best deals out there are for those lucky enough to have credit scores above 740 and a substantial downpayment.  Do not focus totally on the interest rate; check out the fees, especially when comparing lender to lender.  Some lenders will attract you by offering a lower interest rate, but when it comes time to close they will pack on the fees.  Be specific when asking your lender about their fees.  Tell your lender that you want to know exactly what they are charging you.  Ask such questions as - what is the application fee? - what is the appraisal fee? - what is the attorney fee? - etc.  For further advice on what to ask your lender, please contact me a Diane@DianeKaplan.com