• Mortgage rates fluctuate, sometimes on a daily basis. That’s why it’s important to get a mortgage through 0Pointloan when the rates are very low and to ensure that the mortgage you choose is a fixed-rate option. If you get a variable rate, your mortgage payment could rise significantly as interest rates go up. Adjustable rate mortgages can be dangerous in that regard, too, as interest rate trends are usually upward and not downward. Instead of taking the risk of a variable rate mortgage on the off chance that the interest rates may go down somewhat in the future, choosing a fixed rate mortgage through 0Pointloan means that your payment won’t change.
  • If you get a high rate of interest, you’ll be stuck with that rate unless you refinance your loan, but you also won’t have any worries about your payment going higher. Buying when the rates are very low, of course, is the better choice. That way, you’ll have a payment that is about the lowest you can get, and that will help protect you from having a mortgage that is really too much for you or too difficult for you to pay each month. Banks often lend more than they really should to borrowers, and that can make paying the mortgage a struggle. Add a high interest rate on top of that, and it becomes even more problematic.
  • Fortunately, there are ways to avoid these kinds of issues. By working with us at 0Pointloan, you’ll get a lender who is really working for you and who understands the importance of proper mortgage rates and how to get people mortgages they can actually afford. Buying a house is exciting, and it’s all too easy to get caught up in the idea that you can have a grand place, even on a small budget. We don’t want to see that happen to you, because it can cause problems later. 0Pointloan will help you understand the type of mortgage for which you can qualify and how the rates will affect your payment. That gives you a better picture of the importance of those rates.
  • When you find a property to buy, you’ll want to lock in your mortgage rate, too. That way, your rate won’t change before you close on the house, which means your payment won’t go up unexpectedly. It’s upsetting to get to the closing table and be told that your payment is going to be higher than anticipated. We don’t do things that way, and the rate and payment we provide to you will be the rate and payment you see on the closing papers. That gives you peace of mind and confidence in your lender and in your ability to make your mortgage payment as agreed.
  • The rate lock is a very important part of getting a mortgage, and here at 0Pointloan, we’ll walk you through why it matters and what you need to do in order to make sure you get the best possible mortgage rate. That way you’ll be happy going into closing and getting a great house that you can love — and afford — for a long time to come.