Most of us don’t have the money to buy or renovate a home. This is where mortgage loans come in. Whether you’re buying your first home, renovating or investing in a rental or vacation spot, your next mortgage can help you achieve your goals.
However, to achieve this goal, getting the best possible mortgage rates is crucial. The interest rate and terms of your mortgage are important because these factors can greatly affect your total outgoings. Cut your interest rate by a percentage or two and you’ll save thousands of dollars in interest over the loan process.
Cómo obtener la mejor tasa de interés en su próxima hipoteca
Al considerar las opciones para su próxima hipoteca, es mejor estar lo más preparado posible para completar su solicitud de préstamo y obtener las tasas de interés más bajas posibles.
“Hay tres pilares: su solvencia, sus ingresos (traducidos en una relación deuda-ingresos) y su patrimonio”, explica Josh Moffitt, presidente de Silverton Mortgage en Atlanta.
In each of these areas, the following steps must be taken to obtain the best possible mortgage rate.
1. Mejora tu puntuación crediticia
Una puntuación de crédito baja no le impide automáticamente obtener un préstamo, pero puede ser la diferencia entre obtener la tasa de interés más baja posible y condiciones de préstamo más caras.
“Credit scores are always an important factor in determining risk,” said Valerie Saunders, vice president of the National Association of Mortgage Brokers (NAMB). “Lenders will use the score to measure a person’s ability to pay off their debts. The higher the score, the more likely the borrower will not default.”
The best mortgage rates go to borrowers with the highest credit ratings, usually 740 or higher. Generally speaking, the more confident a lender is in your ability to make your payments on time, the lower the interest rate they offer.
Para mejorar su puntuación, pague sus facturas a tiempo y cancele o elimine los saldos de estas tarjetas de crédito. Si debe mantener un saldo, asegúrese de que éste no exceda entre 20% y 30% de su límite de crédito disponible. Además, revise su puntaje de crédito e infórmelo periódicamente y busque errores en el informe. Si encuentra algún error, trabaje para solucionarlo antes de solicitar una hipoteca.
2. Realice un buen trabajo de registros de empleo
You are more attractive to lenders if you have a steady job and income for at least two years, especially with the same employer. Be prepared to provide pay stubs at least 30 days prior to applying for a mortgage and a W-2 for the past two years. If you earn bonuses or commissions, you must also prove this.
If you are self-employed or your salary comes from multiple part-time jobs, it may be more difficult to qualify, but not impossible. If you are self-employed, you may need to provide business documents such as income statements in addition to your tax return to complete your application.
What if you are a graduate just starting your career or returning to the job market after a hiatus? When you have a formal job offer on hand, lenders can often verify your job, as long as the offer reflects what you will pay. The same applies if you currently have a job but are about to have a new one. However, if you’re entering an entirely new industry, lenders may flag your application. So keep this in mind when making major changes.
Las lagunas en su historial laboral no necesariamente lo descalificarán, pero sí importa cuán largas sean esas lagunas. Por ejemplo, si está desempleado durante un período de tiempo relativamente corto debido a una enfermedad, es posible que pueda explicar fácilmente la brecha a su prestamista. Sin embargo, si ha estado desempleado durante un período prolongado de tiempo (seis meses o más), puede resultar difícil obtener un permiso.
3. Ahorre en el pago inicial
Ahorrar más puede permitirle reducir su tasa hipotecaria, especialmente si tiene suficiente efectivo para un pago inicial de 20%. Por supuesto, los prestamistas aceptarán pagos iniciales más bajos, pero menos de 20% generalmente significa que tendrá que pagar un seguro hipotecario privado, que puede variar entre 0,05% y 1% o más del monto del préstamo original por año. Cuanto antes pague su hipoteca de menos del 80% del valor total de su vivienda, antes podrá salir del seguro hipotecario y reducir sus facturas mensuales.
4. Choose a 15-Year Fixed Rate Mortgage
While a 30-year fixed-rate mortgage is common, if you think you’ve found a long-term home and have good cash flow, consider a 15-year fixed-rate mortgage to pay off your home faster. You also have the option of a 15-year term when refinancing your current mortgage. The current benchmark rate for a 15-year fixed-rate mortgage is 4.730%, according to Bankrate’s national survey of lenders.
Learn how to refinance your mortgage and whether it’s right for you with our free course.
5. Comparison store between multiple lenders
A la hora de buscar la mejor tasa hipotecaria, incluso de refinanciación, haga la investigación necesaria para asegurarse de encontrar la mejor tasa hipotecaria para su situación. No aceptes el primer precio que te ofrezcan: vale la pena intentarlo. Según un estudio, los prestatarios recibieron solo una oferta de tasa de interés adicional y ahorraron un promedio de $1,500, y recibieron cinco y ahorraron un promedio de $3,000.
Mire más allá de su banco o cooperativa de crédito, hable con varios prestamistas y explore opciones en línea.
“Buy and compare based on the credit evaluations you get,” Sanders said. “You don’t usually buy a car without a test drive first. Do a test drive before proceeding with the purchase.”
6. Lock your tariffs
The closing process can sometimes take weeks, and prices can fluctuate during this time. After you sign a home purchase agreement and get a loan, ask your lender to determine your interest rate. There is sometimes a fee for this service, but it’s usually worth it, especially in an environment where interest rates are rising.
Siguiente paso
Once you’ve found the best loan quotes and rates and applied for a loan, you’re one step closer to your next mortgage. Here’s an overview of what to expect:
- Dentro de los tres días posteriores a la solicitud, recibirá una estimación del préstamo que incluye detalles de la hipoteca. Esto incluye una lista de costos de pago, pero son estimaciones actuales, no números firmes. Si tiene preguntas sobre lo que se incluye en su evaluación de crédito, puede pedirle una aclaración a su prestamista en este momento.
- Your lender’s underwriting department will review your application to determine whether your mortgage will be approved. During this time, you may be asked to provide additional documents or answer questions. So be prepared and react. Take care of your finances and your job too – don’t take out new loans, make big purchases, or change jobs if you can avoid it.
- If your mortgage is approved, you’re close to closing. If your loan is rejected, it’s important to find out what factors influenced the decision. In general, you can always apply for another mortgage from another lender, but it’s wise to wait a little longer before it damages your credit.
As you approach your closing date, you will receive a closing disclosure with final loan terms, including your interest rate and closing costs. If you have determined a low price, please ensure that the price in this document matches your original offer. Keep in mind that rate locks are usually only for a specific period of time. Therefore, it is best to work with your lender to avoid delays in the closing process.
Aprende más:
