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Here are the steps to get a 5.25% interest rate for the life of the loan:
- Make a full price offer to get the seller’s attention
- Ask for a concession to lower the interest rate
- For a 1.5M purchase, with 20% down, you will need a credit of 34K
- For a 2.0M purchase, with 20% down you will need a credit of 46K
If the seller says “NO” you just move on to the next seller. Sellers what do you have to lose? If the seller says “NO” you are no worse off than you are right now. If seller says “YES” you have a nice home with a low interest rate. So, let’s get aggressive and go out and make some offers.
For more information on this type of loan contact Cynthia Darnell at 925-989-5032 and cdarnell@c2financial.com She is an excellent lender whom I have used before. Use my name when you talk to her.
