How to buy at the lowest rate
Buying Valencia CA and Santa Clarita CA real estate goes hand in hand with the desire to secure the lowest rate possible.
We have clients coming to our Paris911 Team asking how that can be done. We explain that Paris has a background in lending, and it’s possible with a little fancy footwork and lending knowledge being bestowed.
We cover these topics with those clients that are utilizing our real estate services, that attend our “Buyer Briefing” meetings in our real estate offices.
BTW – we keep up with the mortgage and lending trends. We do this by continuing to interview lenders and “self educating” about the new tools of the “mortgage and lending” trade.
What’s Hot and What’s Not
This includes the “next best thing” when it comes to loans and lending. What is HOT and what are those borrowing money shunning when it comes to “terms, rates, and programs”.
One recent article, that I read, noted it is possible to lock in for a year, and another suggested locking in and requesting an option for a lower rate should they drop before the closing. Let’s face it, rates fluctuate, and everyone wants to save where they can when investing in as large a purchase as a home.
The “Float Down” option
The “float down” option is something that not all lenders will offer, but if you think to ask you could save money at the closing table. This is when you lock in at a certain rate you can request a “float down” should rates drop between locking in and the day you sign on the dotted line. This can cost a fee, but if rates drop this could be worth it.
Buying real estate is all about insider knowledge. There are many pieces to the borrowing, lending, buying, and selling process, when you have someone that is willing to explain everything to you without obligation, you are being prepared for success with regard to your real estate endeavor.
Besides being able to show how our clients leave the gate with more lending knowledge, and because of that fact, having better rates and programs offered to them, I can prove where “insider” knowledge pays off in another area of real estate.
Proving “insider knowledge” is critical
With new Valencia CA and Santa Clarita Housing. While buying a new home directly from a new home builder, through their representative(their own agent), is not something to shun, there are things that are “known” by the new home staff that is not general or “public knowledge”.
That is why we had hired two real estate agents that had worked directly for the new home builders in the Santa Clarita Valley cities. This insider knowledge that has gleaned our New Santa Clarita Home clients a better edge when buying new construction and new real estate.
Getting notifications of homes that are about to fall out of escrow, but are locked in at a lower price due to them entering escrow in a “preceding phase”. Valuable Stuff for sure… Knowing exactly how much of the listing price is able to be reduced. How much of the “extras” can be included with the proper amount of pressure, on the new home builder, from your own realtor. How much is the “real bottom line” as far as allowable credits and upgrades for each of the new home builders, etc…
Only Hire Experts
The tricky part for many Valencia CA and Santa Clarita home buyers is that buying a home is not something most people do every day. First time home buyers and buyers who have not bought a home in ages may find that they are being exposed to a different language. This is when a REALTOR® comes in handy for gaining access to home financing information as well as introductions to the BEST and most reputable Santa Clarita Valley lenders.