Karen Rosenfeld Real Estate

The interest rate is a critical factor for deciding on which mortgage lender is best for you. But it’s not the end all be all!

When you’re deciding which lender to work with, make sure to take the following into account along with the interest rate.

-How much are the monthly payments? What fees are rolled into the payments?

-How long is the term? Is it a 15-year or 30-year? Generally speaking, 15-year terms will have lower interest rates.

-Is it a fixed interest rate or is it variable?

-What are the lender fees you’ll have to pay at closing?

Mortgages are complicated. You should make sure you fully understand what each lender is offering because there’s more to them than just the interest rate!

Want more tips like this? Make sure to download your FREE buyer guide! Link in bio.

First-time homebuyers, this one's for you! Property taxes are an important thing to consider when you’re looking at homes because they can add a lot of money to your monthly mortgage payment.

The amount you pay in property taxes depends on the property value and where the property is located since each state and city has a different tax rate.

If you have a mortgage, your property taxes are usually wrapped into your monthly payment. If you’ve paid off your mortgage or bought in cash, you are still responsible for paying the tax–the bill will usually get sent by mail.

When you’re looking at homes, pay attention to the mortgage breakdown to see how the property taxes add up.

Have any other questions about property taxes? Just send me a DM!