3 Home Loan Tips That Save First Time Homebuyers Lots of Money…

Today I want to share with you three home loan tips that will save you money.



The first tip is to ask your loan officer where  25 year fixed rate mortgages stand for your situation. Don’t just accept a 30-year fixed rate mortgage. The 25 year fixed mortgage usually trends lower than the 30 year fixed-rate mortgage. Please know a 25-year mortgage may mean a higher payment simply because more principal is being paid, and the term of your home loan will be shorter. 

Tip number two asks about a 5 year, 7 year, or even a 10 year adjustable-rate mortgage. Adjustable mortgage rates also tend to be lower than fixed-rate mortgages. 

Studies show in Florida, individuals only live in their first home purchase for 7-9 years, and within this time frame, you might refinance once or twice. So consider an adjustable-rate mortgage that is fixed for the duration you will be living in the home.

The last tip is to inquire about a 15-day rate lock or a 22-day rate lock. Don’t just settle for a 30-day rate lock or a 45-day rate lock. 

The lower term rate lock period usually allows for lower discount point costs and even possibly a better interest rate. 

These three tips are an excellent way for first-time homebuyers to ensure they pay the least amount of interest on their new home purchase.

My name is Edgar DeJesus. I’m the mortgage advisor and branch manager of Treasure Coast Home Loans. 

Today’s market requires you to have a skilled negotiator and consultant, like me, helping you and the people you care about right now.

Call or text, (772) 444-6362, with any questions that will let me separate opinion from opportunity. 

Thank you for taking the time to read my latest real estate and mortgage report.

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