Can I get home loan rates without running my credit?

First, you should be aware that mortgage loan officers are primarily salespeople (including your humble question-answerer). An essential part of selling is getting the other person to commit to moving forward. From the salesperson’s standpoint, consent to run a credit report is the first step in that process. Many loan officers will tell callers shopping … Read more

Is it worth buying down interest rate points on a home loan?

It depends on the size of the mortgage, the points purchased, the reduction in interest rate for each point, and the time you plan on holding the mortgage. For example, if you have a 30-year fixed mortgage in the amount of $250,000 with an interest rate of 4%, your monthly payment will be $1,193.54. Let’s … Read more