What are points and a rate lock, and why are they important? This week Travis Schmidt from Fairway Independent Mortgage and I are talking all about points and a rate lock. When buying a home, points and rate lock are a way to control the interest rate that the lender is charging you. A rate lock is when your lender agrees to lock in your rate throughout for a specific time, while points are where the lender allows you purchase a better interest rate than what is being offered, or offer you a credit for a higher rate to help with costs.
Want to learn more? Check out my playlist How To Prepare To Buy A House. https://www.youtube.com/playlist?list=PLfINoTnqEsmEeeAAXyYWo8g_2ldXmOEMd
â¡ï¸Like the information I share on this channel? Make sure to hit the subscribe button and turn on notifications so you'll won't miss a single episode.⬠ï¸
ðï¸You can find my Arizona First Time Home Buyer Podcast on your favorite podcast app, or give it a listen at https://www.spreaker.com/show/the-arizona-first-time-home-buyer-podcastðï¸
ð°Find out how you may qualify to receive up to $16,588 in down payment assistance in Arizona by visiting my website at www.yourfirsthomeaz.comð°
ð Join me on Facebook at facebook.com/azfirsttimehomebuyersð
If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:
Travis Schmidt
Fairway Independent Mortgage
Sr. Loan Officer
NMLS: #795903
(602)312-4032
Travis.Schmidt@FairwayMC.com
Don't forget to join us on facebook at facebook.com/azfirsttimehomebuyers.
Want more information on down payment assistance in Arizona? Check out our website at www.yourfirsthomeaz.com.
If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:
Travis Schmidt
Fairway Independent Mortgage
Sr. Loan Officer
NMLS: #795903
(602)312-4032
Travis.Schmidt@FairwayMC.com