What is going on with mortgage rates? And how can you shop for a home loan in today's market?
Right now rates are elevated, higher than they've been in 20 years. We thought rates would come down as inflation came down, but instead, we are staying high in our interest rates, and it's making it difficult for buyers to afford home loans. So you've got three types of loans that you can shop for, and what we want to do is educate you on those three. So you can make the best decisions for you.
ONE is your tech company, that's where you go online, apply, and hope that you're doing things right and that you know enough to get through that transaction, and eventually someone will come along and support you along the way. The hard thing is, you don't know if that person is going to be someone with experience or someone who's a little bit newer in the industry.
TWO are banks that you can go to. The tricky part with banks right now is that they're more deposit-focused and they're tightening up their credit criteria. So right now a lot of banks are shifting away from home loans and back to deposits and that's going to make it difficult sometimes when you're looking to a bank.
We here at Bear Flag Home Loans are your THIRD type. We are a broker that will look at your situation specifically. We'll say, hey, we work with all these different lenders let us help you find the best loan, and by the way while we're at it, we are going to give you the best advice from not just your financial picture but also when you're selecting a home and location for your needs. Give us a call and let us help you make your next move.

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