5 BUY POINTS : Discount points can help lower your interest rate upfront. It generally takes one discount point to decrease an interest rate by roughly 0.25%. 1. IMPROVE CREDIT: Through each individual borrower’s situation is different, most people can get a lower interest rate if they have a higher credit score. 2. EXPLORE ADJUSTABLE-RATE OPTIONS : Oftentimes, adjustable-rate mortgages (ARMs) are offered at lower introductory rates than fixed0rate mortgages. The introductory perios usually lasts for 7 to 10 years. They have become increasingly popular recently. 3. MORTGAGE PAYMENT BUYDOWN: The Mortgage Payment Buy down can help reduce the impact of higher rates by giving home buyers a lower payment on their mortgage for up to three years. 4. HOMEFUNDIT: A higher down paynment can help lower your payments. With this easy-to-use online platform, home. buyers can build a customized 5. contribution campaign, raise down payment gifts, and accept contributions from anyone with a credit or debit card. For first-time buyers, every gift earns a 2-to-1 match, up to the lesser of $2,000 or 1% of teh purchase price*.
Shawn Hunt Senior Vice President, Branch Manager NMLS ID# 1098459 | Branch NMLS# 2443130 shunt@cmghomeloans.com www.cmghomeloans.com/mysite/Shawn-Hunt
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CMG Mortgage, Inc. dba CMG Home Loans dba CMG Financial, NMLS ID# 1820 (www.nmlsconsumeraccess.org), is an equal housing lender. Licensed by the Virginia State Corporation Commission #MC-5521. Georgia Residential Mortgage Licensee #15438. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing, 220 East Main St Salisbury, MD 21801 JN# 1163093325
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