When you're shopping for a home loan pre approval, a lower mortgage rate can help you borrow more money without increasing your monthly mortgage payment. This is because a lower interest rate means you'll pay less in interest over the life of your loan. With more of your payment going towards paying down the principal balance of the loan, rather than paying interest, a lower interest rate can improve your mortgage prequalification and allow for a larger loan amount while keeping your monthly payment the same or similar to what it would have been with a higher interest rate. Contact us for your mortgage pre approval in Frisco, Plano, McKinney and surrounding areas.
Wholesale rates can be between 25-75 basis points lower than retail rates. Open up your homebuying options when you uncap your buying power.
The increase in homebuying power is based on the average difference between retail rates and wholesale rates. Please contact us for comparable figures based on your mortgage prequalification such as LTV, credit score, and DTI.