We are interested in getting a 30 year mortgage this time around,
though we will likely pay it off a lot sooner than that. I think we
need a pre-approval letter to make sure we can make an offer quickly
that will be taken seriously.
Anyone have any pointers for shopping around for a good deal on
interest rate?
specs that should affect the loan:
1) we have no debt at all
2) credit rating of 790
3) equity of about $55K in a fully paid off duplex. One side should
bring in $450 a month rent as soon as we move
out, while the other side should bring in about $400 a month
starting in about a year. Each side has 3 bedrooms and 1,300 square
feet of living area total.
4) 30 year term
Thanks!