Borrower qualification is based on the monthly housing expense-to-income ratio calculated using the monthly payment at the permanent bought-down note rate.
Borrower qualification is based on the monthly housing expense-to-income ratio calculated using the monthly payment at the permanent bought-down note rate. Of course, as an alternative, you could cut your price by the same amount. As you can see on the graph below, interest rate trends have no course. Retain more borrowers while providing an attractive refinance option for borrowers with ARMs that are adjusting to higher rates, to minimize payment shock. Obtain a lower interest rate while increasing purchasing power. For now the market appears to be waiting for a sign.
You can even get a lower rate than those shown above by becoming an Educated Choice Member. Your financially savvy borrowers are always looking for more creative ways to finance their home purchases and increase their home purchasing power.