By Jason Boone
BEND – Over the last 30 days we’ve seen mortgage interest rates increase slightly to 3.80% for a 30-year fixed mortgage loan (up 3 basis points from February) and 3.03 percent for a 15-year fixed mortgage loan.
How to Get the Best Deal on a Mortgage Loan
Step 1 – Check your credit reports and remove for any negative or inaccurate information which may be reported about you.
Step 2 – Pay down your debts since this will also help to lower your debt-to-income ratio and make mortgage repayment easier.
Step 3 – Be transparent when applying for a mortgage and don’t hesitate to provide documentation for everything including sources of income.
Step 4 – Have a down payment of at least 20 percent ready to buy a home since this will make you more attractive to potential lenders.
Step 5 – Ask about fees like the origination fee BEFORE signing since these fees can make your loan more expensive.
Great Time to Buy In Bend
If you’re thinking about buying a home in Bend and haven’t decided to make it happen yet, now is a great time to buy a home.
Don’t wait for mortgage interest rates to keep falling though since home prices are only expected to continue increasing across Bend and Central Oregon
To learn more about Bend Oregon Real Estate contact me, Jason Boone, Principal Broker with the Skjersaa Group | Duke Warner Realty by calling me at (541) 383-1426 or by clicking here to connect with me through my website.