Getting Preapproved now vs. Getting Preapproved later
As i was sitting with a lender last week, we discussed a few things about the Government shutdown. Because of this, a 30 year fixed is 4% rate, zero points with a 780 credit score on a 1 million dollar purchase and 20% down. Not bad!
According to an article from CNBC:
"Mortgage applications plummet nearly 10% to end 2018, despite lower rates
Total mortgage application volume dropped 9.8 percent at the end of last week from two weeks earlier, according to the Mortgage Bankers Association.
Volume was 21 percent lower than a year ago and the lowest level in 18 years.
The numbers are surprising, given that homebuyers and homeowners looking to refinance could have taken advantage of lower interest rates."
If you think you are ready to purchase a home this year, call me so we can discuss about the best option for you!
Elisa Uribe 510-919-5741 e.uribe@ggsir.com
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