No doubt about it, since 2022 got underway, mortgage rates have been on a stairway higher and that makes it harder for our buyers to qualify for a mortgage on one hand and even when they do qualify, it puts additional strain on their household budget on the other.
So how can buyers and owners keep their rate and payment as low as possible despite rising interest rates? In this short video, I cover three classic ways to “fight the Fed:”
- Paying discount points.
- Choosing an ARM over a fixed rate loan.
- Considering an interest-only mortgage program.
Wanna buy a home this year but not end up “house poor?” Let’s wind on down the road of some of the most effective strategies.
Really makes me wonder,
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343
Cell/Text: 415-367-5959
rob.spinosa@rate.com
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960
*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate. In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.