Here is a great article from Credit.com on “Should You Ever Pay Cash for a Home?” The first question someone always asks us when looking into a mortgage is “what is your rate?” It’s not about the lowest rate but what is the lowest cost product.
You can get away with putting as little as 10% down on a jumbo loan up to certain loan amounts. A jumbo loan is any loan greater than $417,000.
Many people will tell you getting a mortgage is extremely difficult and I would be one to 2nd that however it is most times self-inflicted and something that can be prevented by planning in advance and using the right professionals. Most do not understand what is involved in buying a home until they are in middle of it and it’s too late.
If you are looking to buy or even thinking about buying a property in Fort Lauderdale or South Florida now is the time to do it. Jumbo interest rates are lower than Conventional interest rates right now.
That is the first question we always get asked because that is what everyone thinks is what matters most. I have been in the business for 11 years and I have never been able to identify the lowest rate