There are a thousand places to look up a rate. There are very few that tell you what it means for a house in Granger. That is the part I can help with.
I am a REALTOR, not a lender. I do not originate loans, I am not paid by any lender, and any number I put on this page would be a published national average that is not the rate you would actually get. Your rate depends on your credit, your down payment, the property, and which lender you use. Anyone who quotes you a rate without knowing those four things is guessing.
What I can tell you is what a move in rates does to the thing you actually care about, which is what you can buy.
Rates move what your money buys, not just what your payment is. Roughly speaking, every one percentage point that rates move changes what a given monthly payment will support by around ten percent of the purchase price — in either direction.
In our market that is the difference between shopping the $250,000 band and shopping the $275,000 band. In St. Joseph County, where the median sale price is $250,000, one point of rate movement is the difference between competing for the median house and competing for a meaningfully nicer one.
People wait for rates and miss houses. The house you lose while waiting is gone permanently; the rate you did not like can be refinanced. That is not a reason to overpay — it is a reason to make the decision about the house on the house, and the decision about the loan on the loan. They are two separate problems and treating them as one costs people the home they wanted.
I do not have a lender I push and I do not get paid to refer you anywhere. If you want names of people locally who have done right by my clients, I will give you several and you can pick.
Tell me what you're working on and I'll get back to you personally. No pressure, and if I'm not the right fit for you I'll say so.
Your message is with me. I read every one of these myself and I’ll get back to you personally, usually the same day.
Need me sooner? Call or text 574-850-2252
Gutermuth Homes at Cressy & Everett Real Estate. Garrett Gutermuth, REALTOR® — Licensed Real Estate Broker, State of Indiana. 332 N Ironwood Drive, South Bend, IN. Serving St. Joseph & Elkhart Counties.
Equal Housing Opportunity. All real estate advertised is subject to the Federal Fair Housing Act, which makes it illegal to advertise any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.
This page is general information about the Michiana real estate market, not advice about your specific situation. Market conditions change. For advice on your own property or transaction, talk to me directly.
I am not a lender, a mortgage broker, or a loan originator, and nothing here is loan advice or an offer of credit. I do not originate mortgages, I am not compensated by any lender or mortgage broker, and I have no financial arrangement with any lender mentioned or unmentioned on this site. Any rate referenced is a published market average from the source named, stated as an annual percentage rate, and is not a rate available to you. Your actual rate and terms depend on your credit, down payment, property, and lender. Talk to a licensed lender for anything specific to your loan.