We have just posted up a new Market update for real estate in the Santa Clarita Valley Cities. One of those things we need to talk about is how we are reducing in price. We also need to relay to you the latest in the Foreclosure Updates as they happen in the Santa Clarita Valley.
Click on any of the two links above to gain access to our most recent SCV market reports. Also, with regard to lenders and lending in the Santa Clarita Valley, make sure you are not using anyone that is practicing the are of “predatory lending”. The professional should be well versed in the loan process, approval process and should be up front with you on all fronts. If they ask you to lie or to bend the truth, don’t do it at any cost. It will create huge issues in the future if ever found out.
Mortgage rates are like magic in that they are not always what they appear to be. We have been hearing about low rates for so many months now, hearing the term “historic low” on a consistent basis. Recently rates have started a slow climb from the last “historic low” and while rates are still below 4% many borrowers have the mistaken impression that this is the rate they will get when they go to buy or refinance a home.
If the current average rate for a 30 year traditional fixed rate mortgage is currently hovering at 3.46% why can’t you get that rate? After all, by definition the word average suggests that some people get a lower rate and others a higher rate. If you have good credit, a job, and perfectly respectable finances why shouldn’t you qualify for the average low rate? You might very well be able to secure this rate, so don’t panic. You should however be aware of what affects your rate before entering the process.
The factor that most people are aware of that can affect your interest rate is your credit score, but many people do not realize that they are able to fix inaccuracies on the credit score. Take a good hard look at your credit score and work at clearing it up. Other factors include the amount you are looking to borrow, the length of the loan, the type of home you are buying or refinancing, and what the percentage of the loan versus value of the home is.
Refinancing or applying for a loan to buy a home is best done armed with knowledge. The more prepared you are the more successful you will be!
We work with the BEST Santa Clarita lenders. All you have to do to get us to refer you to one is to type in the words “Find me a lender” in to the MacBox on our Santa Clarita REMAX Website.
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