Checking The Pulse Of The Kansas City Real Estate Market

Are you considering buying a home in Kansas City, Johnson County Kansas, Overland Park or in the surrounding area? If you are, one of the first things you should start checking on are today’s mortgage interest rates. The lower the interest rates available, the lower your mortgage payments will be… or the more home you’ll be able to afford. 30-year fixed rate loans are the most common loans made today and you can check how today’s rates are looking here at BankRate.com, Yahoo and CNN Money. 

Remember, while interest rates are a critical part of the equation, there’s a lot of other details than need considered as well. Ask each lender what fees and costs are associated with the loan. Check with multiple lenders too and once you’ve determine what you deem to be a solid interest rate and fair fees, go to work in locating a local LOAN OFFICER who can get the job done. Dealing with an out-of-town loan officer GREATLY increases the likelihood of some sort of trouble with getting the loan closed on time — or closed at all in some cases. There’s something about having a local loan officer that you or your Kansas City Realtor has done business with in the past that keeps a transaction moving along smoothly.  

How do you know how much the loan you’re inquiring about will cost you? Ask for a Truth In Lending estimate that spells that information out. It will show the interest rate being quoted on that given day (remember that interest rates change daily) as well as any fees associated with the loan in question. 

Posted by Jason Brown