Here are some finance links and a little info to get you started as you investigate mortgage or loan options along with a few comments where I think it could be most useful.
Interest rate comparison link
Of all the finance links that we can think of, perhaps the most sought after would be for current interest rates. For those you can check BankRate.com BUT in my experience, the cheapest rates don’t always come with the best and most timely service. For a refinance, it doesn’t matter, but in a purchase situation, if the bank is late that’s on the buyer. Best to get a list of local, trusted loan officers and then check with them each.
Please note that it’s not one rate fits all! Rates will be lower with higher credit scores and higher down payments. (The reason is that the bank or lender’s risk is less in those cases.) That’s why it’s best to speak with a loan officer at each one to determine your particular rate for your particular type of mortgage.
FHA and VA loan rates may be lower than typical even with small down payments, but those are more cumbersome and if sellers can get a buyer with regular financing, that would be preferred.
Finance links – articles on our sites
This site, popehandy.com
- 15, 30, & 40 Year Loans
- Acquiring your loan
- Pre-qualifying, Pre-approval, Pre-underwriting
- Short Sales and Bank Owned Homes
- Veterans Administration or VA Loans
Finance links on our main blog, SanJoseRealEstateLosGatosHomes.com,
aka The Valley of Heart’s Delight blog
- Cash offers: what do you need to know if buying all cash?
- Why do sellers care if the offer has a loan or is all cash?
- What are typical buyer closing costs in Silicon Valley?
- Appraisals & Market Value
- Do all buyers purchase PMI?
- Lease Options
- Rental property down payment
- Does your HOA have enough in reserves?
- Should you double app your loan?
- What are supplemental taxes?
