When you rent a home, you’re essentially paying off your landlord’s mortgage. You could be taking that same monthly payment and instead, be using it towards a home of your own. Now is an opportune time to seriously consider making a move. Here’s why.
Rental rates are rising faster than single-family homes are appreciating. You’re in a situation where rent is increasing and will only continue to do so. You can dodge high payments by locking in a 30-year fixed mortgage.
Interest rates are at record lows. That’s why timing is so crucial. Don’t wait, because these rates are expected to increase. Don’t miss out on locking in a low rate.
Due to the economic crunch we experienced in the last decade, the lending industry tightened up standards. However, since our economy is quickly recovering, standards are becoming loose again. This is yet another advantage to acting now. You can get into a home with as little as 3% down!
Now is a great time if you’ve been seriously considering turning into a homeowner, renters! Reach out to a real estate professional today. If you’re thinking about buying, let’s talk through that idea. Give me a call or send me an email today!