Better Info, Better Decisions

With mortgage rates still at a historical low, it’s a wonder to many why more buyers are not taking advantage of these incredible opportunities to get the home they’ve always dreamed of. The answer lies in the fact that many buyers are simply misinformed when it comes to mortgage practices. Here at Team Sedoryk Properties, our mission is to help our clients understand and coordinate the various parts that come with buying a home, such as mortgage, insurance, title, and even inspections. By having a clearer understanding of the process, buyers can make more informed decisions that better suit their needs.

There are endless myths circling the market regarding mortgage practices, one of the main topics being how mortgage rate is determined. Annual income is an important factor for calculating a rate, however borrowers must also keep in mind that having a low debt-to-income ratio, loan-to-value ratio, ability to repay the loan, and a good credit score are also pivotal when determining a mortgage rate.

Other misconceptions include the idea that FHA loans are only for first-time buyers, rates are released only once a day, lender fees are non-negotiable, pre-qualification commits the lender, and that adjustable rate mortgages will always go up. It’s this type of false information that drives buyers into making hasty decisions or simply stop them from acting at all.

So how can someone looking to purchase a home do so with confidence? The answer is simple: go with a dedicated real estate professional. Being pre-approved from a lender is crucial, but having an experienced professional on your side can make all the difference. You don’t have to go through the home buying process alone. We’ll help you interpret the labyrinth of information that comes with mortgages and the entire transaction process to ensure you make the best decision for you and your family.

If you’re interested in purchasing a home in the Albuquerque, Rio Rancho, Placitas, or Corrales area, give Team Sedoryk a call today!