The Mortgage Bankers Association reports that the average 30-year fixed mortgage rate dropped to 4.15% on October 5, 2015; the lowest its been in over 50 years! This means you can get a house at an affordable monthly payment or refinance an existing mortgage at an even lower interest rate than ever before (see current mortgage rates). You’re probably wondering how this affects your options when it comes to financing your next home. With so many companies out there vying to offer you their services as a lender, this might seem like a tough question to answer.
Homeownership opportunities are on the rise
Getting a mortgage loan has never been easier. With mortgage rates at an all time low, homeownership opportunities are at their best ever. The housing market is on the upswing, with more people entering the market and looking to purchase homes. Mortgage rates can go up or down so it’s important to get a quote and estimate your mortgage today in order to lock in this great rate before it goes up.
[irp posts=”1078″ ]Take advantage of current mortgage rates
The amount of money you will pay for a home is determined by several factors, including the price of the home, your down payment and the mortgage loan rate. One of the reasons rates are so low right now is because lending standards have been tightened significantly over the last year. Fortunately, it’s never been easier to get a mortgage loan with competitive rates and low closing costs. To find out more about current mortgage rates and start estimating your mortgage loan today, contact one of our expert mortgage lenders at 866-444-7942.
How to estimate your mortgage loan
Getting a mortgage loan is not an easy task. There are many steps to take and calculations that need to be made in order to determine your eligibility for a mortgage. The process can be overwhelming, but we’re here to help make it easier for you. Follow these simple steps and you’ll have a good idea of what you’ll be dealing with when applying for a mortgage loan:
-Estimate how much money you will need monthly after the purchase of your home.
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Get a quote today
The Federal Reserve set the interest rates to an all time low, making it a great time to get a mortgage loan and buy that perfect home. With rates as low as they are, there has never been a better opportunity to purchase real estate than now. Get a quote today and estimate your mortgage loan today!
