{"id":661,"date":"2017-02-07T00:00:00","date_gmt":"2017-02-07T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/the-best-places-to-score-a-mortgage\/"},"modified":"2017-02-07T00:00:00","modified_gmt":"2017-02-07T00:00:00","slug":"the-best-places-to-score-a-mortgage","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/the-best-places-to-score-a-mortgage\/","title":{"rendered":"The Best Places to Score a Mortgage"},"content":{"rendered":"

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Sumter, Fla., is the best place in the country for a borrower to get a mortgage<\/a>, according to a new study by SmartAsset.<\/p>\n

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Read more<\/strong>: Buyers Stuck on Down Payment Confusion<\/span><\/a><\/p>\n<\/blockquote>\n

SmartAsset\u2019s study considered four factors to pinpoint the best places in the country to get a mortgage: overall borrowing costs, ease of securing a mortgage, affordable property taxes, and affordable annual mortgage payments.<\/p>\n

Borrowing costs were analyzed by factoring in expected costs over the first five years of a $200,000 mortgage with a 20 percent down payment, which included closing costs. Annual mortgage payments reflect the annual principal and interest payments for a $200,000 loan<\/a> in that location.<\/p>\n

The following 10 cities ranked highest in SmartAsset\u2019s study (listed<\/a> below with only the loan funding<\/a> rate and annual mortgage payment):<\/p>\n

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  1. Sumter, Fla.: 71.58% (loan funding rate); $14,639 (annual mortgage payment)<\/li>\n
  2. Walton, Fla.: 60.97%; $14,639<\/li>\n
  3. Jackson, Mo.: 65.05%; $14,857<\/li>\n
  4. Okaloosa, Fla.: 61.75%; $14,637<\/li>\n
  5. San Mateo, Calif.: 67.92%; $14,688<\/li>\n
  6. Collier, Fla.: 61.31%; $14,639<\/li>\n
  7. San Francisco, Calif.: 66.61%; $14,688<\/li>\n
  8. Santa Rosa, Fla.: 60.67%; $14,639<\/li>\n
  9. Washington, Ore.: 67.35%; $14,830<\/li>\n
  10. Indian River, Fla.: 62.36%; $14,639<\/li>\n<\/ol>\n

    How can your buyers score a better mortgage rate? SmartAsset researchers say the key is to shop around and compare mortgage rates carefully. Don\u2019t let your buyers just fall for a bank\u2019s advertisement, which often touts the lowest possible available loan rate \u2013 a rate many borrowers don\u2019t qualify for. Lenders<\/a> charge borrowers different rates based on the borrower\u2019s credit so it\u2019s important to shop around and compare.<\/p>\n

    Also make sure to let buyers know that although a 20% down payment loan was used in this particular study, there are many banks who offer<\/a> low down payment options<\/a> for home shoppers.<\/p>\n

    Visit SmartAsset to view an interactive mortgage map<\/a>, in which you can scroll over your county to find how easy it is for securing a mortgage.<\/p>\n

    Source: \u201cThe Best Places to Get a Mortgage<\/a>,\u201d SmartAsset (2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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    Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    [ad_1] Sumter, Fla., is the best place in the country for a borrower to get a … The Best Places to Score a Mortgage<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,625,12908,543,604,3058,408,1295,41,818,15296,1262],"class_list":["post-661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-down-payment","tag-home","tag-home-buying-guide","tag-loans","tag-location","tag-mortgage","tag-mortgage-rate","tag-property","tag-real","tag-target","tag-taxes"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/JGUkLUr2XZE","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":806,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-10-most-affordable-places-to-live-in-u-s\/","url_meta":{"origin":661,"position":0},"title":"The 10 Most Affordable Places to Live in U.S.","author":"Amazing Property","date":"February 16, 2017","format":false,"excerpt":"Most Affordable Places in America Home affordability is more than the price a buyer agrees to pay a seller. 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This column will attempt to highlight what lenders can do and what they cannot do in this area.\r \r Lenders like to escrow funds for future payment of real estate\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3778,"url":"https:\/\/amazingproperty.com.ng\/blog\/will-lower-rates-create-buyer-frenzy\/","url_meta":{"origin":661,"position":2},"title":"Will Lower Rates Create Buyer Frenzy?","author":"Amazing Property","date":"April 24, 2017","format":false,"excerpt":"Mortgage rates have dropped below 4 percent for the first time since November, and home buyers likely will want to take advantage of the lower borrowing costs. 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