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Residential financing is made easier with HLIB

Posted on Monday, July 22, 2013 at 11:28:03 AM

Mortgage rates recently rose for six consecutive weeks between May and June, showing signs of a strengthening economy and national housing market.

As the numbers increase, some potential buyers might be concerned about the cost of residential financing. There is little reason to worry, though, and now is still a good time to purchase a home with options from Home Loan Investment Bank.

"Mortgage Rates should not deter borrowers from making an application because rates change daily - and sometimes multiple times during the day," said HLIB residential financing expert Patrick Deady. "More importantly, a borrower should get the process started so they can lock a rate when the market reaches the interest rate they would like. Many folks who wait to start the application miss the opportunity when the interest rate market rises."

More people should take the proper steps to get the best deals, and it helps to be pre-approved to move fast.

"I would suggest a borrower make application and float until the rate they want is available," Deady? added. "This should only be done in a downward trending rate environment. When rates are rising a borrower should lock to prevent losing their desired outcome."

The best residential financing options are available, and buyers just need to get the ball rolling.

"HLIB has very competitive rates," said Deady. "In fact, we almost never hear that our rates are higher than the competition. We are generally at or below the national average."

Quality home loans are available from HLIB, where many borrowers get the financial means to purchase their dream houses.