As most of you know, mortgage rates are low and highly competitive right now. Some banks are offering conventional farm and ranch acquisition rates in the 4+ percent range. So if you are considering refinancing or acquiring a large purchase, now is the time to act and secure a low interest rate with a financial institution. Be careful not to overlook the origination fee or other costs that can boost the bank’s profitability beyond the thunder of low interest rates. Interest charged on a loan can also be a deduction on your taxes. This is all great and good if you have good credit. Sadly, many Americans have bad to terrible credit. How does this occur, you ask? It can build over time, with many very late to no payments on different notes such as credit cards, auto loans, etc.. Having good credit is underrated and unappreciated like it should be. It is a great advantage to have good credit. Having good to great credit does not mean you should go out and sign up for three credit cards and max them out. Having good credit means you have financial credibility, and most banking institutions respect and desire customers with it. Use it wisely.
McAllen Coalson, Broker / Coalson Real Estate