If you are considering buying a home. This maybe the best time to buy right now. While there is no way to predict the future, the interest rates are currently still at all time lows. What that means for you is more home or lower monthly payments. Right now, as well there are fewer home buyers which means less compaction on the homes on the market. Also, some sellers must sell and are more motivated to drop their price because less home buyers are shopping or looking at their home.
Your 30-year payment on the $350k home with interest rates at 3.5% would be roughly $2191 a month for an FHA loan.
Your 30-year payment on the same $350k home with interest rates at 5% would be roughly $2,492 a month with an FHA Loan.
This does matter. Also, as I state earlier there is no way to predict the future, I don’t see anything that happened in 2005 and 2006 will happen again. That happened because of the perfect storm. Lenders not verifying income and everyone getting adjustable loans. There will always be ups and downs in the housing market but it’s best to buy while you can and start paying off the home for your retirement. Or even buying another property to rent out for income.
For my home buyers I offer a "Home Buyers Rebate" which is worth from $1,000 to $3,000 credited to you at closing. How it works is if you buy a home worth $400,000 or more you receive a rebate of $3,000 at close of escrow. If you buy a home at or over $150,000 but under $399,999 than you receive $1,000 rebate. Again, it’s free money that helps keep your hard-earned money where it belongs, your bank account. Please feel free to ask for more details about this Home Buyers Rebate I offer.
**IMPORTANT** Please know that we have an absolutely no pressure policy, so there is zero pressure, no hassle and no obligation!
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