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If you are planning to buy a Dallas property in the near future, you have probably been watching the interest rates very closely. It can be particularly stressful to search for a home while going through the pre-approval process for a mortgage. Providing a lending institution with paperwork while searching can be a lot to juggle, especially if you are simultaneously trying to sell your current property.
If you cannot afford to put down a large enough down payment for a traditional mortgage, you will need to pay private mortgage insurance (PMI). Alternatively, you can split your mortgage into two mortgages to avoid paying PMI. These are some of the discussions that you should have with a lender so that you know how much you can afford to spend on your new property.
Finding the Best Dallas Mortgage Interest Rates for You
Even though mortgage rates have come down slightly from their highest point, you may not be ready to lock yourself into a long mortgage on your Dallas home. If you are not certain how long you will be staying in Dallas, a traditional 30-year fixed mortgage rate may not be best for you. Instead, an adjustable-rate mortgage can often provide you with lower interest rates.
If you are searching for properties in Dallas, Texas, consider working with David Winans Better Homes & Gardens Real Estate. Our REALTORS® will provide your family with an elite service, searching the MLS listings daily and sending you immediate notifications when properties become available. In addition, our company can also help you arrange for a mortgage on your Dallas property through another division of our company, the Texas Loan Center.