What if you could make that big investment work for you. That is the art of a mortgage broker, mortgage brokers are able to help you pick and choose from a variety of programs, not just the factory line of rates a bigger institution like a bank have. So, before you refinance or purchase a home here is a questions you should ask yourself.
1. Where do you see yourself 5 years down the road?
I mean financially here. Are you going to have a substantial increase in your wages, or expect one? If you don't see an increase coming in the near future you then need to consider how you are going to plan your finances for the next 5 years. Suggestions, Take a fixed rate if you can get an interest rate 7% or lower, rates are low so why not?
If you do see a substantial increase in the near future or have an unexpected increase in wages, how can you benefit from the market today? I am not a financial planner or anything like that but, is there anything out there that can give me a better return for my dollar, rather then paying such a high mortgage? If this is your case, your options are wide open depending on credit. If you start to see the market adjust keep an eye on your ROI, going back to that fixed rate mortgage may not be a bad idea.
This is just one simple question to ask yourself before making the biggest financial decision of the year. It doesn't matter what your credit score is or LTV, its about the right mortgage that is going to lead you down a path toward financial freedom. In order to achieve this you must first have a plan.
This is just one simple question to ask yourself before making the biggest financial decision of the year. It doesn't matter what your credit score is or LTV, its about the right mortgage that is going to lead you down a path toward financial freedom. In order to achieve this you must first have a plan.
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