In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.
There are many things to consider when purchasing a home—location, school district, neighborhood, affordability, and type (single family vs. multifamily) just to mention a few. Once you’ve found your perfect home, you must choose the best mortgage type—fixed-rate or adjustable. And then you can decide whether to buy points.
If you’re buying a house, you want to get the best deal possible, which means you want the lowest interest rates—the lower your interest rates are, the less you’ll pay over the life of the loan. Buying a house can take a while, though, and in the time it takes you to find the house and go through the buying process, interest rates could rise or fall significantly.