With mortgage interest rates increasing, I hear the whispers in the market from buyers who feel they have missed their opportunity to own a home. The truth is, as long as you can qualify for a mortgage and can find a suitable home to meet your needs, the time to buy should only be dictated by your desire to own a home. Let’s face it, rising mortgage interest rates don’t mean that you suddenly don’t have a monthly housing expense. Unless you are living with your parents or have a sweet set up in the guest house of a wealthy friend, your monthly housing payment is simply paying your landlord’s mortgage. Why not put that money into building your own wealth?
IF MORTGAGE INTEREST RATES ARE INCREASING…
Take a moment and think of the things you have at your disposal, in your financial side of life, that are interest rate driven. I promise you that at any given moment, a thirty year mortgage interest rate is going to pale in comparison to a consumer credit card interest rate. Yet, many would-be buyers, carrying balances on high interest credit cards, are sitting out the home buying process because mortgage rates are increasing. Interest paid on credit cards is money wasted. Pay off the cards and qualify for a mortgage! Start building equity in your own home.
FINDING A HOME
If you are worried about the limited inventory to choose from, I can help you find a home that other buyers don’t even know about yet. All I need to know is where you want to live. I am happy to contact sellers in that neighborhood and find you a home to buy. After all, sellers are still selling. We just need to find them before they go public.
The first step in the home buying process is to connect with a trusted, local lender. Give me a call and let me put you in touch with lenders that can get you through the underwriting process and offer any seller a guarantee that your mortgage will close on time or they will pay them $10,000. What seller can say no to that?