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Here are some tips on how to take advantage of the recovering market and low interest rates:

low-interest-rates
  • If you currently own a home, take advantage of the low mortgage rates ASAP.  If you haven’t already refinanced you are missing out on a great opportunity to save a significant amount that you are currently pouring into your mortgage.  Act fast because interest rates are projected to hike up throughout 2014.  A graph of recent market rates can be found below.  These rates won’t last forever.
  • If you currently rent, you might be spending too much.  Have you ever performed a rate vs. buy analysis on your living situation?  Paying rent is basically kissing your money goodbye.  Buying a home is an investment.  Purchasing a home can leave you with equity depending on the market trends, of course.  Request a loan officer to create a rent vs. buy analysis for you so you can put your finances in perspective.
  • Do you have the income, but not the savings?  If your income qualifies, you may be eligible for a Down Payment Assistance Program to help with down payments and closing costs if you don’t have enough money saved.  Explore our programs at http://broadviewmortgageorange.com/check-buyer-assistance-eligibility/

If you have any questions about the information herein, feel free to reach out to the Author, Brittany Williams, at Brittany.williams@broadviewmortgage.com.  If you would like a quick preapproval Click Here, and for assistance with down payment or buyer assistance Click Here.  You are also always free to give us a call Toll Free (855) 692-7623.

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