4️⃣ Four things to help you get a better mortgage rate!

4️⃣ Four things to help you get a better mortgage rate!

Do you want to buy a home but the mortgage rate increases has you a little on edge? Don’t worry, you are not alone. A lot of potential buyers are feeling a little unsure about interest rates in today’s market. Hi, I’m Tanja Odzak, Our East Bay Home and eXp Realty and I sell houses here in Oakland, Berkeley,and the East Bay.

There are four things you can do as a potential buyer to secure the best possible interest rate for your purchase. 

  1. Your Credit Score. Having a good credit score is crucial to obtaining a good rate.
    A credit score is a number from 300 to 850 that rates a buyer’s credit worthiness and predicts how likely you will pay back your loan on time.. The higher the number, the better a borrower will look to lenders. According to Freddie Mac, “When you build and maintain a strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you have paid back your loans as agreed.” 
  2. Your loan type. Once you start shopping for homes, you will also begin shopping for mortgages to see what loan type is the best for you. There are several different types of mortgage loans that vary in rate and eligibility requirements. When working with your agent, you will determine what is available in your area and what you can qualify for. 
  3. Your loan term. Another factor is the term of the loan, how long it will take you to repay the loan before you fully own the property. This term will also affect your rate, monthly payment and amount of interest you will pay over the course of the loan. 
  4. Your Down Payment. General rule of thumb is the larger the down payment, the more likely you will have a lower interest rate. This is because most lenders see a lower level of risk when a buyer has put more money down to purchase therefore having a bigger stake in the property. Usually putting 20% down will guarantee a better interest rate. 

Of course, it is always best to consult with me first about the market you’re shopping in, so that I can help guide you through that process to determine the best way to obtain a lower interest rate. I’m Tanja and I sell homes, let’s chat to see what options are best for you today.

And if you or someone you know needs to sell, ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them offering my super duper digital marketing that… no one else does in our area. I’m Tanja and I offer simplified and transparent choices!

I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit. 

Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?

Click here—> I WANT TO GAIN ACCESS TO THE *HOME BUYER* SEMINAR NOW

Click here—> I WANT TO GAIN ACCESS TO THE *HOME SELLER* SEMINAR NOW

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