Our credit scores largely determine how we live our lives. We buy almost everything on credit. When applying for a loan, our good credit scores help us receive reasonable interest rates. In fact, from owners to the insurance companies and public services, everibody checks out our credit scores, since they are a reflection of our financial health. A good credit score may determine how much companies charge you for their services. Today, even employers check out personal credit scores before offering a job.
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Just Listed!! Traditional living in Fergus Falls with fresh and fun updates! Fall in love with this 2-Story, 4 Bedroom, 2 Bath home featuring a fabulous three season room with telescoping screen covers. Other pluses include: a gas fireplace, main floor living/dining/eat-in kitchen, a playroom/office space and lovely landscaping . Bedrooms are very spacious and pleasant, windows have all been replaced. High efficiency furnace, new kitchen appliances, lovely landscaping and a brand new A/C (coming soon!) complete this classic style home close to schools and parks! $184,900. Call today for an appointment 218-205-7086 Mary Pettit, Keller Williams Realty Professionals. (agent is owner) #home#house#homeiswheretheheartis#charm#charming#family#life#live#buy#dreamhome#noplacelikehome ❤️ #noplacelikehome#mn#minnesota#fergusfalls#midwest
YOU NEED TO BUY NOW! MUST READ!
As everyone knows rates have been all over the map this year. They have gone up since last year and may continue rising. The Fed is determined to eventually get interest rates higher. So projections are that we will be 0.75% - 1% higher by this time next year which could put rates in the 4.50% - 5.75% range depending on loan type and loan size.
On top of that, home prices are projected to continue rising for the next 3 years at an average of about 8% (depending on the area). So here is how that ends up looking.
Example: $400,000 house in January 2018, that exact house will be around $432,000 next year. This has several negative effects.
1.) You miss out on that $32,000 in equity and asset appreciation
2.) You will pay $32,000 more for the same house
3.) You will need a larger down payment OR have to finance more
4.) Because rates will be higher you will pay a much higher monthly mortgage payment
5.) You will also qualify for $36,000 LESS with a 1% rise in rates
That is a combined $68,000 loss for waiting until next year… NOT COUNTING the higher payment and higher interest paid over the life of the loan.
On top of all this, rental rates are expected to outpace mortgage payments.
We have every possible loan program to handle any situation. Low and No Down Payment options and we can even finance borrower's with only a 580 credit score (500 for VA with zero down).
If you are thinking about buying, now is the time! Hurry before rates and home prices go higher!
Contact us today for a FREE, No Obligation Loan Consultation and Pre-Approval
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