European economic issues, weak US economic growth, horrible jobs numbers… Because of an accumulation of reasons, the interest rates have crashed over the 2 1/2 months. Big international money is running into safe havens.
The 10 yr note (direction most closely correlates with the 30 year fixed mortgage rates) has dropped a full percent since mid-March. The mortgage rates haven’t dropped as much, but are looking amazing. Interest rates jump up faster than they go down. Don’t wait. Even if you don’t lock, have your loan in process so you’re in position to move before they jump up.
If you have any questions on how you can take advantage of these historically low rates, feel free in contacting me, and lets crunch the numbers…
Ron Henderson, GRI,RECS,CIAS
President/Broker
Multi Real Estate Services, Inc.
CA DRE #00905793
NMLS #310358
office 818-999-2945 x102
fax 818-883-2089
https://mres.com
For some people 20% is a lot to put down. There are many intsnaces where the parents could help out. They can sign onto the mortgage as a guarantor. After one year they can be removed from the mortgage through a lawyer. Lenders want to see that you are good with credit prove your responsible and lenders will have no problem with you in the future. There are many times a guarantor is needed for younger professionals without any credit history. Speak to a mortgage broker they can help you. The slow way is to get a credit card from your bank and start using it. Make sure your payments are on time and in 3-6 months you will start seeing your score. Typically, you need 1 or 2 open lines of trade (credit card, line of credit, personal loan) to get a higher score. Make sure you make your credit card payments right away and try not to carry any balances over to the next month. Keep your statement balance at $0 while using your card regularly