My husband and I are fortunate enough to have high enough salaries that we do not qualify for any first time home buyer assistance programs. We don’t want to put less than 20% down and have excellent credit scores but even with our high salaries are struggling to find something affordable. Does anyone know of any mortgage lenders offering low interest rates for first time home buyers without income restrictions?
Lmao 😂 what does it mean offering low interest rate . That’s not how it works .
If you have the cash you can always buy points on your mortgage to lower the rate? Not sure about this question as you have to do your research on lenders and they are generally all going to be the same rate range
Look up assumable mortgages.. but you will be limited by not qualifying for FHA and maybe only VA.
The only way you can lower interest is buy down or relationship discounts. Big banks are better play in current market. Bofa, Wells, Chase are offering decent rates if you move assets. Just like others mentioned, even with 500k TC, folks are finding it hard to afford a monthly payment these days without impacting quality of life.
Bidenomanics
Whats your household tc?
Your salaries are low if you can’t afford anything
TC? Down payment size? House budget?
Few of the comments above indicate that interest rates are not lender specific. That’s not true IMO. Otherwise why would anyone shop for loan at multiple lenders. I’ve always compared at least 5 lenders and rates had been drastically different. I’d suggest checking with InstaMortgage (Shashank Shekhar). I’ve personally found best interest rate options with them. HTH.
The interest rates are determined by FED.