Ways to combat the rising interest rates to get you into your dream home.

Today I'd like to discuss three different ways you can combat the rising interest rates to get you into the home of your dreams. There's no denying that our rising interest rates can make it difficult to get approved for your loan and into the home you wanted six months ago. To help you combat the rising interest rates, here are things you can do:

1. Check your credit score. You might think your credit score is decent, but there's always room for improvement. My suggestion would be to start paying off your debt little by little, so you can get your debt-to-income ratio at a good place with your lender. 

“You might think your credit score is decent, but there's always room for improvement.”

2. Lock and shop. We have a local lender in our area who offers this, where they lock in your rate and you're able to go out and look for a house. But I only recommend this when you’re looking to buy a home in the next 30 to 60 days. If you’re ready to move within that time frame, this is definitely a great option.

3. Buy down your discount points. This helps you get a lower interest rate. So on a $200,000 home, you’re looking at about $2,000 that you'd be buying down your mortgage points. It’s great for first-time buyers, especially because they can sometimes be tax deductible. 

By doing either one or all three of these things, you'd be able to lower your interest rate and get into the home you love. Again, feel free to reach out to me; I’d love to help you!