Finding a decent mortgage rate right now can be interesting to say the least. The real estate market lately has seen its share of ups and downs, and it is not stopping yet. There are some very good deals out there that are easy to find if you know where to look and how to look for them.
What you need to do to start this ball rolling is to figure out exactly what you can afford. There are going to be places where rates will vary, but not to the extent to where they cannot fit into your budget. You have to stay realistic about this as well.
A good way to do this is to use one of the many mortgage calculators available for use. This tool will give you different financial scenarios that you can get a clear picture from. It is free, easy to use, and available on virtually any mortgage or real estate website you go on.
If you find that your finances are really tight and you are kind of gun shy as to buying a house because of that, you can always just wait. The Federal Government, who sets the rates, periodically checks the rates as well. Sometimes they raise them, but they lower them as well so you may to keep an eye on them for that purpose.
You can also check on the state regulated lending institutions if you cannot find a good deal elsewhere. Places like credit unions are good places to go because their rates and requirements are more flexible. It is much easier to budget with places like that and they are smaller as well as more personable.
The same can be said for the real estate agents you use as well. Remember that just because a house is listed by a particular company that doesn't mean you have to use that company as well. If the financials are what you are the most concerned about, the smaller, lesser known agents may know of the places you can use that are more flexible with financing.
These can be some very helpful tips indeed if you need a push in the right direction. The money aspect of this is what is on everyone's mind when buying a home, and there are many different ways you can save money here. The old saying that there is no such thing as bad information applies very well in this case.