606b mortgage options, rising rates, pre-approvals, rate locking, online only lenders + more (mortgage broker q&a)
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Mortgage Brokers - How Long Should I Expect Pre-Approval to Take?
I actually don't agree with people just paying interest only and not having any sort of buffer put into their home loan to cover things when they do change. Two years ago, the rate was quite a lot different. And so we had more clients than ever paying principal and interest. Now it's for most lenders, it's really only sort of 0.4-0.5. Investors are still probably favoring interest only if they've got a mortgage. If you're looking at buying our first home ASAP, I've been in contact with the broker since August last year and had to follow him up several times, but he's just so slow. Could you let me know exactly what this process
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