Better Mortgage Rate using four things, down below are some tips that you can use as a guide by the Top realtor in Brentwood California.
Hi, I am Krista Mashore with Homes by Krista and eXp Realty to tell you the four things you can do as a potential buyer to secure the best possible interest rate for your purchase. #1 – Your Credit Score. Having a good credit score is crucial to obtaining a good rate. A credit score is a number from 300 to 850 that rates a buyer’s credit worthiness and predicts how likely you will pay back your loan on time.. The higher the number, the better a borrower will look to lenders. According to Freddie Mac, “When you build and maintain a strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you have paid back your loans as agreed.” #2 – Your loan type. Once you start shopping for homes, you will also begin shopping for mortgages to see What loan type is the best for you. There are several different types of mortgage loans that vary in rate and eligibility requirements. When working with your agent, you will determine what is available in your area and what you can qualify for. #3 – Your loan term. Another factor is the term of the loan, how long it will take you to repay the loan before you fully own the property. This term will also affect your rate, monthly payment and amount of interest you will pay over the course of the loan. #4 – Your Down Payment. General rule of thumb is the larger the down payment, the more likely you will have a lower interest rate. This is because most lenders see a lower level of risk when a buyer has put more money down to purchase therefore having a bigger stake in the property. Usually putting 20% down will guarantee a better interest rate. Of course, it is always best to reach out to your local agent and expert in the market you are shopping in to guide through the process to determine the best way to obtain a lower interest rate. Feel free to reach out to me to chat.
In 2018 Krista Mashore sold over 22 Million dollars worth of Real Estate and is named in the Wall Street Journal within the Top 100 Agents Nationwide. Please see the article at The Wall Street Journal. To see Krista’s local recognition check out this link featured in the Brentwood Press.
Krista’s expertise and professionalism is revealed not only in the 14 years in Real Estate but also by being within the top 1% of all Realtors in Contra Costa County continuously since 2002.
Krista posses a Master’s Degree in Education, previously employed as a School Teacher. Her excellence derives from her outstanding communication, skills, expertise in marketing, and her optimistic attitude towards life in general. Pristine Customer Service to her clients is a top priority. Krista has a natural ability for developing trust by her client base.
Her attitude is characterized her slogan:
“When You Do What You Love, People Love What You Do”