real estate: How Will Rising Intrest Rates Effect Your Buying Power In Our Local Grand Rapids, MI. Real Estate Market??
- 04/08/10 05:08 AM
Rising Intrest rates = Higher Mortgage payments for Home Buyers in Grand Rapids, MI. How Do Rising Interest Rates Affect Affordability? As responsible Lenders it is up to those of us who care deeply about our clientele to help them understand how qualifying REALLY works. It is not accurate when a Home Buyer is told they qualify for a particular purchase amount. When we pre-approve a borrower we do so by qualifying them on a certain payment, not purchase amount. There are a number of variables that can effect that payment amount...Taxes, Insurance, and Interest Rates being the main three! … (0 comments)
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Jennifer Tabor Storre
FHA and VA Home Loans, 0 Down Financing, Jumbo Loans
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