Interest rates are rising fast. No time to waste!
It’s still a great time to buy a home in Orange County, California however, if you have thought about buying a home you better act fast because interest rates have gone up about a full percent in recent months and it looks like they will continue to rise for the rest of this year and into next year.
How Rising Interest Rates effect a Home Buyer
As rates go up, so too do mortgage payments. And if home prices continue to rise (basic economics of supply and demand; limited homes available for sale with many home buyers = higher prices), this doubles the pressure to act before it get’s out of site out of mind.
And Rents are going up as well. This adds a lot of pressure for a prospective home buyer. Buyer’s should be aware of one very important thing:
Interest rate will continue to move up and down. The point here is that regardless of when one may purchase a home, the odds are the loan they obtain to purchase the home will likely not be their ‘Loan for Life’. Most first time buyers only think of it that way. Fact is, when rates adjust and are lower than
the rate they currently have, they can refinance into a lower rate and lower their payments*.
Another reason to shop for a buy a home before the end of this year are the incentives being offered right now:
- Waiving the appraisal requirement, OR
- Have it reimbursed on all loans originated and closed through the end of 2018 through OCRealtorDIRECT.com affiliated mortgage company
GoToHome Realty & Loan
How to get started? Start The Loan Process With Us
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or Apply on our website by clicking here
We use only the BEST Of The BEST wholesale mortgage companies to help assure a smooth process and competitive rates.
If you are searching for real estate in Irvine, Laguna Beach, Huntington Beach, San Clemente, San Juan Capistrano, or any other outstanding Orange County community, look no further than OC Realtor Direct. You’ll work with one of the top real estate agents in the region, receiving personalized service to help you find your dream property. Find a Realtor today to get started on your search for Southern California real estate!
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*must apply for a qualify for a new loan. We can check your qualifications when the time comes.