Tysen Prunty, Realtor

The home buying process can be complex, with many steps and requirements that may be confusing or overwhelming for first-time home buyers.

The fear of the unknown can also make some people hesitant to take the plunge…

Once your ready to dive in, connect with me❗️

As a local broker I will guide you through the home buying process and keep you well aware of everything to expect to ensure a smooth and successful transaction.

A basis point is a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. It is equal to 1/100th of 1%, or 0.01%, and is used to denote the small changes in numerical values of items in the financial markets. For example, a change from 4.50% to 4.51% is equal to one basis point. Likewise, if a mortgage rate increases from 3.50% to 4.00%, it has increased by 50 basis points.

In the mortgage market, basis points are typically used when determining the interest rate of a loan. A change of one basis point in an interest rate usually corresponds to a change of 0.125% in the interest rate. Therefore, a mortgage rate of 3.5% could be expressed as 350 basis points.