When it comes to figuring out monthly payments for a home, lenders tend to stick to a rule where the payment is made up of only 28 percent of the borrower’s disposable income. Nevertheless, being able to afford a home as a first-time home buyer has become more important than just knowing the amount that can be lent to you.
Today we’re going to be looking into why it makes financial sense to work with mortgage brokers
When you make a decision that surrounds a home, whether it’s refinancing an existing loan or if you are a first time home buyer, getting the best financial deal available is key. If you don’t, then you will surely feel trapped in a loan that seems to go nowhere. Plus, when you don’t explore all of the possibilities for a great mortgage, you could be short-changing yourself out of savings that you could be taking advantage of if you had a mortgage broker.