05/23/2024
Legit or not?
Before you take what online mortgage calculators say to the bank, know this:
Interest rates are incredibly personalized. One size *does not* fit all.
What you end up with as your lender-issued rate is based on things like:
Your debt-to-income ratio - Ranges from 0% if youโre debt-free to 50% or more. Your credit score - Ranges from 300 to 850. Your employment type and income - Salary, self-employed, hourly, bonus-based pay Your loan size, type, and length Your loan co-borrowers, if any The truth is, that rate you see on screen? It might be making assumptions that aren't right for you.
The only way to truly know where you stand is to chat with a mortgage lender. They'll ask everything, show you your options, and help you determine your real buying power.
Need a local lender? I've got you covered! Just shoot me a message, and Iโll send you my list of trusted lenders.
๐ฒ If you and/or anyone you know is looking to buy and/or sell, I would love the opportunity to be of service. Please call/text, DM or email started!
248.298.6825
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MikeLayneRealtor.com