Browsing Tag

interest rates

Financing & Insuring

Lock in Today’s Mortgage Rate until 2018

March 20, 2017
Dayton at Saddle Rock

Planning to buy a home this year? If you’ve been keeping a nervous eye on news from the Federal Reserve, wondering if you’re missing out on your best mortgage rate because you’re not ready to close, an extended rate lock might be just the thing you need to move forward with confidence. What is an extended rate lock? A buyer typically has sixty days to close a loan after locking in a mortgage rate. With an extended rate lock by HomeAmerican Mortgage Corporation, you can…

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Financing & Insuring

Should I Lock in My Interest Rate?

November 25, 2016

Should I lock in my interest rate today? Many people ask their loan officers, “When should I lock in my rate?” There’s no easy answer. It’s a little like asking when you should sell your stock or which mutual fund will perform better. It all depends on the market and your individual situation. Are you a well-qualified buyer? If you believe that rates are going to stabilize or improve, it might make sense to wait to lock in your interest rate. However, less qualified buyers…

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Financing & Insuring

Making the Most of a Mortgage Calculator

June 18, 2015

A mortgage calculator can be very helpful when you’re deciding how to approach the financial side of buying a home. It can give you a ballpark figure of what your monthly mortgage payment may be so you can estimate expenses. It can also help you decide if you might prefer a fixed-rate or an adjustable-rate loan, or a 15- or 30-year loan term. Experiment by entering the numbers for one home price and interest rate—and then alter the figures to see different scenarios. Want to…

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