The First-Time Home Buyer’s Guide to Getting the Best Possible Mortgage Rate

The First-Time Home Buyer's Guide to Getting the Best Possible Mortgage RateWhether they’re found online or heard from family and friends, there are so many mortgage tips out there that it can be hard to know exactly how to proceed. But, if you’re new to the market, there are a few surefire things you can do to get a mortgage rate you’ll feel good about. For some of the best tips on getting a great loan, look no further than the following.

Know Your Credit History

It’s a simple fact that one of the most important factors in your mortgage application is your credit history, so good or fair, it’s important to be aware of where you stand. While the acceptable credit score for mortgage approval can fluctuate, the best rates are often available to those with a score that is higher than 760. In order to improve your chances, get a copy of your credit report and pay attention to any discrepancies that might be in it. These can have a negative impact on your score and your application, so you’ll want to have them revised if they’re incorrect.

Save Your Down Payment

It’s not a requirement of mortgage approval to put 20% down, but a down payment of this size will lower your debt-to-income ratio and will make you a more solid bet for the lender. By having 20% in the bank to go towards your home investment, you will also be able to qualify for a lower rate. Not only this, you will not be required to pay mortgage insurance which means a lowered monthly payment and a higher disposable income in the event of market fluctuations.

Consult With A Mortgage Professional

You may want to pursue a mortgage on your own, but having a professional to help you with the process can be beneficial for a number of reasons. A mortgage expert will not only be aware of market conditions, they will have a relationship with the lenders that means they may be able to get you a rate you wouldn’t be offered on your own. While you may want to go it alone, there are benefits to consulting a professional.

There’s a lot involved in the mortgage process, but by putting 20 percent down and having a good credit history, you’ll be well on your way to a great rate.

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11679 W Agave Court Surprise, AZ 85378

$449,000
4 Beds
2 Baths
1,816 SqFt
Status Active
MLS # 6666180
Property Type Single Family Residence
Price Type --
Welcome to this stunning home nestled in the highly sought-after Golf Course Community of Coyote Lakes. As you step inside, you are greeted with a grand entrance that leads you to the heart of the house - the spacious kitchen with a great open floor plan, perfect for family gatherings and entertaining guests. The kitchen boasts modern appliances, ample storage, and a large island that doubles as a breakfast bar. The luxurious primary bedroom is a true retreat, complete with a spa-like bathroom featuring a soaking tub, a separate shower, dual sinks, and a walk-in closet. The laundry room is conveniently located and comes with plenty of storage cabinets to keep everything organized and tidy. Step outside to your private oasis - a sparkling pool and covered patio area where you can relax and unwind after a long day. The patio area is perfect for outdoor dining, barbecues, or simply lounging in the sun. Experience delightful living at its finest in this beautiful Surprise home.

21006 N Aurora Drive Sun City West, AZ 85375

$449,000
3 Beds
2 Baths
2,356 SqFt
Status Active
MLS # 6666533
Property Type Single Family Residence
Price Type --
This home is a Jacaranda floor plan with 3 bedrooms, 2 baths, vaulted ceilings, and newer windows. An expansive living room, and a large family room with ample built-ins, including a convenient desk. The spacious master suite offers granite counters, double sinks, and a stunning tile shower. The guest bathroom was updated with the same elegant features. The country-style kitchen has a reverse osmosis system, quartz countertops, a breakfast bar, and an eat-in area with a bay window. The home has tile flooring throughout, with a decorative inlay at the entrance. The inviting patio offers both shade and sun with a covered portion and an open area and a partially fenced yard. The home has a 16-panel Solar system that is FULLY PAID, contributing to energy efficiency and cost savings.

4335 Cutter Lane Wickenburg, AZ 85390

$449,000
2 Beds
2 Baths
1,706 SqFt
Status Active
MLS # 6673966
Property Type Single Family Residence
Price Type --
Welcome to 4335 Cutter Lane! Nestled in the idyllic setting of Wickenburg Ranch, this charming home embodies comfort and convenience. Boasting 2 bedrooms and 2 bathrooms, it offers the perfect blend of space and intimacy. As a lock-and-leave property, it ensures effortless living for those seeking a low-maintenance lifestyle. The well-landscaped backyard provides a serene retreat, complemented by a covered back patio ideal for outdoor enjoyment. Inside, the warmth of wood-look tile flooring adds a touch of elegance and durability, while a cozy den offers a versatile space for relaxation or productivity. With its harmonious blend of functionality and tranquility, this home presents an inviting sanctuary in a picturesque desert community. Residents also have access to a plethora of amenities, including a beautiful golf course, fitness center, a resort swimming pool, and much more. Don't miss the opportunity to make this home your own. Experience the luxury and tranquility of Wickenburg Ranch.

2935 W Acoma Drive Phoenix, AZ 85053

$449,000
3 Beds
2 Baths
1,810 SqFt
Status Active
MLS # 6677782
Property Type Single Family Residence
Price Type --
Welcome to this TASTEFULLY UPGRADED home, freshly painted inside & out! The inviting interior features a formal living room, family room w/fireplace, dual pane windows, and wood laminate flooring. The fully equipped kitchen boasts Corian counters, a breakfast bar, & ample cabinets w/wine rack. Main bedroom offers two closets & an ensuite w/dual sinks. Notably, the garage has been turned into a 4th bedroom w/a freestanding fireplace. All closets were repainted as well. PLUS! All new dishwasher, refrigerator, & washing machine. This gem also has a water filter system, evaporating cooler, & a new water heater. Completely updated laundry room! Outback, you have a covered patio, lush lawn with fruit trees, storage shed, & a diving pool w/new filter. SOLAR PANELS are added perks! Visit now!

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