SD Capital Funding’s
Why You Should Guide!
Why you should refinance to a 15 year fixed now.
The rate on a 15 year fixed mortgage can be as much as 1% lower than on a 30 year fixed mortgage. If your goal is to pay off your mortgage as soon as possible and save tens of thousands of dollars in interest, a 15 year fixed rate mortgage is a better option for you.
Why you should save for a down payment.
Saving for a down payment can be easier than you think. The savings from paying off high-interest rate debt like credit cards or automatically moving money into a savings account every paycheck can easily add up. And remember, you can purchase a home with as little as 3% down.
Why you should make sure your credit score is in good shape.
Understanding what’s on your credit report is the first step to take before even considering purchasing a home. Your score factors in things like payment history, the balances owed, the types of credit you have and the amount of time you’ve had them. The credit score not only determines your eligibility for a loan but is a HUGE factor in determining your interest rate.
Why you should know your property type.
Is it a PUD, Condo or Single Family? Does it have an HOA? These acronyms may sound confusing but it is important to know what you are purchasing. Different property types have different monthly expenses and of course, can have different interest rates.
Why you should NOT choose the lender with the lowest rate.
The lender with the lowest rate may not have access to the best product that suits your needs and helps you meet your goals. Lenders with ultra-low rates often skimp on service and have teams with little to no product knowledge. For most clients, it’s best to use a mortgage broker who accesses multiple lenders, multiple products and focused on serving your needs and goals!