Mortgage Pre-approval
After my last post on lenders not offering competitive rates for their mortgage preapprovals, I finally have a lender willing to step up and offer a great interest rate with 120 day rate hold.
If you look at the 5 interest year rate most lenders are offering these days they tend to hover around 4.09% and they may or may not offer preapprovals at that rate. I am happy to announce I am now able to offer my clients 3.99% for a preapproval and the rate will be held for 120 days. This is not a “No Frills” mortgage and has all the bells and whistles you would expect.
If you are looking to by a house in the next 3 months it would make sense to get your rate locked in today. Keep in mind if rates go down between now and the time your house closes, you will get the lowest rate at that time. Also keep in mind this rate is based on approved credit and income.
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