Thinking about possibly giving up on urban farming and moving to a more rural property. Without actually going through a pre-approval process, what do you think a reasonable assumption of a mortgage rate would be with following details:
-high five figures income, so likely not eligible for something like a USDA rural development loan.
-excellent credit (800+), no other debt besides primary home mortgage
-low down payment, we are currently still somewhat underwater on our house, so depending on how short/medium term we move, we might only have 5-10% down saved because my wife also possibly wants to switch jobs soon.
Just trying to get a reasonable placeholder number to use in determining what our comfortable price range might be, because I know a lot of rural areas here have gentrified and may be out of our price range even with low rates.
