First time homebuyer
Hey guys, as the title states I'm a first time homebuyer and I was just looking for some assistance.
First off, my mortgage broker stated that he can give me a fixed mortgage rate of 5.5% and I was wondering if that is considered good at this time?
I wanted to actually go with a variable rate however due to my student debts, the bank will not issue me that. In case I can't cover the payments if rates were to increase too much.
2nd question is, I'm buying a used home so is there a fee I need to pay my real estate agent or is that only paid by the seller of the home?
Thanks in advanced!
First off, my mortgage broker stated that he can give me a fixed mortgage rate of 5.5% and I was wondering if that is considered good at this time?
I wanted to actually go with a variable rate however due to my student debts, the bank will not issue me that. In case I can't cover the payments if rates were to increase too much.
2nd question is, I'm buying a used home so is there a fee I need to pay my real estate agent or is that only paid by the seller of the home?
Thanks in advanced!