Legit or not?
Before you take what online mortgage calculators say to the bank, know this:
Interest rates are incredibly personalized. One size *does not* fit all.
What you end up with as your lender-issued rate is based on things like:
– Your debt-to-income ratio – Ranges from 0% if you’re debt-free to 50% or more.
– Your credit score – Ranges from 300 to 850.
– Your employment type and income – Salary, self-employed, hourly, bonus-based pay
– Your loan size, type, and length
– Your loan co-borrowers, if any
The truth is, that rate you see on screen? It might be making assumptions that aren’t right for you.
The only way to truly know where you stand is to chat with a mortgage lender. They’ll ask everything, show you your options, and help you determine your real buying power.
Need a local lender? We’ve got you covered! Just shoot us a message, and we’ll send you our list of trusted lenders.
“Bringing You Home to the Good Life”
Morrison Bifford Real Estate Group
Royal LePage Locations West Realty
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