Came across a great, great article from MSN Money stating it is a great time to buy, now really I don’t need a great article to come my way to tell me it’s a great time to buy. Everyday I am getting a new client with a purchase contract, or a prospect completing an online loan application wanting to see if they can get pre-approved.
This article explains how now with not only with housing prices lower and rates at record lows it is the time for those that have been on the fence its time to get serious about it. It has even been on our local news that since there are more renters, landlords are raising rents because there is such a high demand for rental properties. With rents at all time highs and mortgage rates at all time lows, now more then ever the best time to get qualified to buy a home. The amount of your rent very likely is higher than what it would cost to have a mortgage!
If you are serious about wanting to buy a home the first thing you need to do is get informed before you do anything. Learn about the mortgage process, know what you can afford, shine up you credit, get a down payment together, get pre-approved and build your team. Building a team means working with a lender and real estate agent that will work well together, build people around you that you trust. Your agent should know about the housing market and where you are wanting to buy, your lender should be able to assist you with any credit hurdles, look into your financial situation and make sure you won’t be house poor and finding the right mortgage for you.
This MSN Money article goes into some great detail and has some great links, I highly recommend you read the full article here.
Please give me a call or email me if you have any questions. Click here if you would like to complete a secured loan application.
Summit Home Mortgage
303-779-0591 ext. 101