The Impact of Higher Mortgage Rates: What Homebuyers Need to Know
MVP Funding
November 7, 2023
Rising rates mean bigger monthly payments and reduced buying power. Find out how to reassess
Expert mortgage tips, refinancing insights, and straightforward advice to help you make confident decisions about your home loan.
Rising rates mean bigger monthly payments and reduced buying power. Find out how to reassess
Follow the mortgage approval path step by step, from checking your credit and gathering documents
Compare fixed-rate, adjustable-rate, FHA, VA, and USDA loans side by side to see which mortgage
Practical ways to raise your credit score: on-time payments, lower card balances, fewer new accounts,
Cut utility bills in your new home with LED lighting, a programmable thermostat, sealed drafts,
Just closed on a house? Start by changing the locks, testing smoke detectors, locating shut-off
Before bidding on a foreclosure, weigh the auction and REO process, repair surprises, tougher financing,
Bigger is not always better. Weigh family plans, lifestyle, location, upkeep, energy costs, and resale
Protect your mortgage approval by keeping credit steady, comparing lenders, documenting income accurately, and avoiding
Not every lender earns your trust. Look for a proven reputation, deep market expertise, transparent
Understand why mortgage rates move with the economy and Federal Reserve policy, how small changes
Walk through every stage of buying your first home, from budgeting and pre-approval to choosing
Torn between selling your current home first or buying the next one? Weigh contingent offers,
Most lenders reserve their best mortgage terms for scores of 620 and up, though FHA
Expect roughly two to three months of house hunting plus one to two months to
Five stars, more than 1,500 times. Read what people say about buying and refinancing with MVP.
Most people reach us before they are ready to decide anything, and that is the right time to call. We will answer questions for as long as it takes, including the ones that end in “not yet.” If the timing is working against you, we will say so. The decision stays yours, and it does not have to happen on this visit.
Ready to see how much you could save? Fill out our short form application and one of our mortgage professionals will reach out to walk you through your options.
DISCLAIMER:
This is not a commitment to lend or extend credit. All loans are subject to credit approval. Information is subject to change without notice. Other restrictions may apply. VA loan benefits are subject to eligibility requirements determined by the U.S. Department of Veterans Affairs.