How interest rates affect qualification for a home

By
Mortgage and Lending with CrossCountry Mortgage NMLS # 243437

Did you know that for every drop of 1% in interest rates on a home loan allows 5 million more people to qualify for the same home? For example, if the rate drops 1% and you want to put an offer on a $350,000 home, 5 million more people also qualify for that same $350,000 home. That's a lot more competition so buy your dream home now and if rates come back down, refinance then! It's a win-win!

Posted by

The Legacy Group of CrossCountry Mortgage

Chad and Joy Bates NMLS #243437

817-860-3232

1205 West Abram St. 

Arlington, TX 76013

Comments (1)

Richard Weeks
Dallas, TX
REALTOR®, Broker
 Great information, thanks for sharing.  I hope you have a great day.
Mar 15, 2023 02:44 AM