Save Money on Your First Mortgage
Making money is one thing when you don’t have it one day and have it the next. But what about money you already have and you save some of that. Would that be considered “making money”?
The reason I ask is because the housing market is sort of not good right now, but people can really save money on mortgages, especially First Time Buyer Mortgage.
I read an article today about how some lenders will give a better price to professionals. They seem to “pamper” the professionals more and just through the “hoops” for those of us that have the degrees and better jobs.
How does this practice help anyone that is trying to buy their first home? These are the types of things that get the housing market into a pinch later on. The lenders believe the professionals have a better chance at higher income later in their careers, so they will offer them better rates and more money right off the bat.
That is all fine and good, but what about Joe Normal that is trying to by his first home and he can’t get a rate below 9% because he doesn’t make $100,000 per year? I am not saying that you should be a professional just for this reason, but maybe you weren’t aware of something like this that is happening.