Mortgage Tips for a Falling Market
Loans change constantly. The only variable that remains the same is financing, but rates, terms and conditions fluctuate. What was vogue years ago, might not hold true in a slowing marketplace.
- Make Sellers Pay Down Your Interest Rate
It's true, on top of price, you can ask a seller to pay down the interest rate on your mortgage. - FHA Loans are Popular Once Again
Yes, FHA loans have made a recent comeback in falling real estate markets. Plus, the requirements are more lenient, so sellers won't shrink away from your offer. - Mortgage Lender Choices
Sellers don't have the right in buyer's markets to insist that you choose their lender. Here's how to find your own financing at the most competitive rates available. - Best Time to Lock a Loan
Often the Fed decreases rates that affect mortgage rates when the market stalls. Should you wait before locking a loan rate? How long? - How to Avoid Shady Lenders
Predatory lenders lurk in the shadows and prey on innocent victims. Don't be bamboozled by them.
When the market swings back toward a seller's market, and it will, your strategies will change. But until appreciation begins to spread its wings and soar, these tips should keep you moving in the right direction.
Go Back to Strategies for Buying in a Falling Market
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
