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Saruul Barrios
Palo Alto - Downtown
Get a positive, helpful partner for buying or selling a home:
- Trusted resource for answers about the process
- Innovative marketing strategies
- Expertise about neighborhood features
- Ability to target home searches
- Strong negotiation skills
- Support through the closing and beyond
Santa Clara County Quarterly Market Report
As a buyer, of course, you can't control factors that could affect interest rates, but here are a few things you can control that will determine the rate a lender gives you on your mortgage:
Down payment - If you can afford a higher down payment, you likely will get a lower interest rate because you're reducing the lender's risk.
Credit rating - Review your credit score. A sound financial track record of repaying debts and a solid credit score may help you lock in a loan at a lower interest rate. Seeking a mortgage pre-approval may also benefit you in this competitive selling environment.
Debt-to-income (DTI) - The percentage of your debt payments to your monthly income can also play a role. The lower your DTI, the better. To lower your DTI, try to pay off the debt with the highest monthly payment.
Stick with your budget - Keep in mind your housing priorities, preferences and desired locations when searching, and always remember your budget. Don't get caught up in a bidding war and price yourself higher than you can afford.
Selecting an experienced local agent who can guide you through the entire process is invaluable. If you are considering listing your property or looking for your dream home, get started by contacting an independent agent today.
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