Before deciding to purchase a new home, you should think about how long you plan to stay in that home.
Is this a temporary home that yoiu plan to move out of quickly, or is it a home that you plan on staying in for a long period of time?
While these questions may feel a little premature, especially since you haven’t moved in yet, they will help you talk to your mortgage broker about what type of loan will be best for you.
For example, you may opt to take a slightly higher interest with no closing costs rather than to pay now, to save over the term of the loan with a lower interest rate.
So, as you begin or continue your new home search, think about how long you plan on being in the home. Then, have a discussion with your mortgage broker.
For more information, call Creekside Mortgage, Inc. at 800.920.5420.