Home Mortgages – Time to Buy or Time to Wait?

Attention, everyone who does not yet own a home. Did you know that interest rates are still VERY low? There is no guarantee they will stay this low, so now is the time to buy! And right now, buying can be cheaper than paying rent!

If you’re thinking, “I would never qualify to buy a house,” you may be surprised to find that you can own your very own living space. There are many great options out there: condos, townhouses, twin homes, single families, and there is always new construction. There are so many different loan programs out there that you may fit into, and it’s easy to sit down with a lender to see what you could qualify for, or what you would need to do to qualify – and it is free to do this.

Here are three solid reasons to get out there and start looking at your local real estate opportunities now:

1. Mortgage rates have rarely been better. The rate of a 30-year fixed-rate mortgage is more attractive today than it has been in the lifetime of just about any potential buyer who is out there looking right now.

2. There are incentives for buyers right now. Spring is here, and that is typically when buyers get more serious and sellers put their homes on the market. Now may be the optimal time to jump into the house-hunting ring. (And it’s easy to view homes right from your couch, by using the internet.) In just a few short weeks, houses might be selling even faster than they already are.

3. It never hurts to look.  It doesn’t take long to get pre-approved for a home loan. If you’ve been saving money for a down payment, have good credit, and a good work history, get pre-qualified first and then get aggressive in search for good buys. Open houses are free, and looking with an agent is also free.

Get a Home and Mortgage that is Right for You

Our mortgage lending team at Bell State Bank & Trust suggests you put yourself out there and see what you like. This may be the time to go out and find the home you’ve been dreaming about, and we are here to help you! Contact any one of our home loan lenders today to find out how much home you can afford with a free, no-hassle prequalification.

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