Been in our first home for 4 years. Now in a position where we'd like to upgrade but the interest rates are causing me to not want to begin the process.
Came across the concept of mortgage brokers and wanted to understand what kind of magic I could or couldn't expect from these folks in terms of beating the "standard" current mortgage rate.
Great credit for both my wife and I. Each over 800. Equity/capital not a problem at all.
Current home we're sub 3%. So it's just really hard for me to accept a 6.2% rate when our current home is fine just not everything we want.
So is it reasonable to think they could shave 1% for someone with our credit and plenty of equity? If not what is roughly the improvement they can make? Closer to .5% or perhaps even more than 1%?
Posted by ElMaskedZorro