A good rule of thumb is to make sure your real estate team of choice makes introductions to the BEST Santa Clarita mortgage lender possible.
When you have your “sit down” with them in their offices, look deeply into their eyes and ask about a 15 years loan with your other questions.
Good lender questions to ask are:
- How is the interest rate determined on the home I want to buy?
- What types of loans are there and which do I qualify for?
- Of the loans you have explained, are there any you would not use personally?
- What if the rates go up, is my rate going to adjust? Please explain..
- What if the rates go down, is my rate going to go down as well? Please explain.
The Goal of the Paris911 Team is to have our clients represented above reproach when it comes to buying real estate.
The same applies to sellers as well, but when it comes to buyers we have a team in place to handle all of their needs. Showing properties, working weekends, adherence to the buyers schedules, navigating the dangerous real estate waters etc… All under the expert guidance of the Two Team Leaders of the Paris911 Team at REMAX of Valencia CA, Me (Connor MacIvor) and Paris MacIvor.
Thinking about a 15 year term? If so you are not alone. With 15 year home loans reaching a historically low rate many homeowners and homebuyers are wondering exactly how much a shorter term loan would save them.
A 15 year home loan offers significant savings when it comes to the overall interest a homeowner will pay over the lifetime of a loan. While these loans require a larger monthly payment upfront, if you plan on keeping your home forever the larger upfront cost is outweighed by the savings.
One of the things I’d suggest to anyone that wants to re-finance or wants to buy a home, speak with your Realtor of preference to see who they use for lending and why. You can get to our Lending Website for Santa Clarita mortgages by clicking here.
Break out your Paris911 Mortgage calculator and check the savings for the amount you need to borrow or refinance. A 30 year home loan is averaging roughly 4.4%, whereas a 15 year loan is averaging 3.61%. A 15 year loan will have your home paid off in half the time of a 30 year loan while saving you thousands, if not tens of thousands, of dollars at the same time.
A 15 year loan suits people who do not need to set aside money for other things, like retirement and tuitions. A 15 year loan does not necessarily make sense for someone who is buying for the short term, like a fix and flip scenario, as it ties up capital you could be spending on improvements.
Remember, you will need to speak with the BEST of the BEST. Let us know when you are ready for our help and thanks for reading, commending and sharing.
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