You’re not helpless when it comes to mortgage interest rates! A lot of buyers are concerned about monthly payments now that the interest rates have gone up.
I talked with Chris O’Connell at Loan Depot about 4 options that home buyers have to pay a lower interest rate and therefore a lower monthly mortgage payment. Chris had one that was surprising to me and we talked a bit about the one that seems to be getting a lot of attention in the real estate world right now, the 2/1 buy down and why that may not be the BEST option.
Take a look at this video interview if that is something that is worrying you as you think about buying a house now.
I am a real estate agent in the Minneapolis / St. Paul area of Minnesota. I love living in Minneapolis! I am NOT a native to the area - I have lived in Ohio, Michigan, Georgia, Illinois and now here - Minneapolis is my favorite so far. :) With all of these moves there have been MANY purchases and sales of homes for us personally - including our own homes, estates, rental property, corporate relocation etc. If there is one thing I KNOW, it's how it feels to be either the excited buyer or the seller having to leave their home for one reason or another.
We moved here when my husband was transferred - we had never been to or even considered visiting Minnesota before. Now I consider it a very lucky break on our part.
I hope to share information about living in Minneapolis, what the neighborhoods are like, as well as information about the home buying and selling process.
View all posts by Mary
