“UNDERSTANDING INTEREST RATES”
Interest rates matter in the real estate market, so it’s so essential to understand what they are. An interest rate is an amount that a lender charges a borrower and is a parentage of the loan. It is added to the principal and is set for a fixed period. Interest rates fluctuate, which significantly impacts the amount borrowers pay their mortgages. Economic trends and income can affect interest rates as well. Low-risk borrowers with a good credit history can more readily qualify for a lower interest rate. Higher interest rates cause a borrower to wind up paying more in interest payments over the life of the loan.
Navigating your way through the many options available in loans and their interest rates and finally obtaining financing for a new home is one more step in the journey that brings home ownership closer to reality. There’s much to learn , many steps to take, and lots to accomplish a successful real estate transaction. If you’d like some help with the process, we welcome your call. “OUR SUCCESS HAS BEEN BUILT ONE SATISFIED CUSTOMER AT A TIME.”
