Archive for the ‘Before you get a loan’ Category


Monday, February 5th, 2018


Everything you need to know about today’s lending climate.

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In 2017, the news cycle felt more like a roller coaster ride with the daily barrage of ups and downs, but what about the real estate market? No one can deny the political climate has been unstable, but what’s on everyone’s mind (especially in the world of real estate) is: How is that going to affect mortgage interest rates?

The good news is that low interest rates remained stable last year. And while no one can predict the future, we caught up with local mortgage banker Kathryn Pedersen to take a look at trends in 2017 and what to think about in the new year.

The bad news first: interest rates are on the rise.
“The predication is rates will continue to rise this year. Nothing crazy, maybe .375 to maybe a half percent, depending on what happens with the economy,” Pedersen says. Still, that can add up over time, especially with larger mortgages.

Choosing the Loan that’s Right for You

Monday, March 13th, 2017

Choosing the Loan that’s Right for You

Buying home is one of the biggest decisions, and more likely one of the biggest financial obligations that you’ll make in your life. Add in getting a mortgage… it’s exhausting to say the least. Now whilst interest rates and lender offers fluctuate, here is some information which might help narrow down what style of mortgage might be right for you:

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30 Year Fixed Rate Mortgate. This tends to be the most popular loan choice, particularly if one plans to live in the home long term (10+) years. You’ll probably pay a higher interest rate but it removes the uncertainty of what your payments will be each month.

15 Year Fixed Rate Mortgage. If you can afford higher monthly payments this may be a good choice for you. You have the same security of a fixed loan rate but you can typically qualify for a lower interest rate and consequently pay less over the life of the loan.