interest rates: Seller paid Rate buy downs
- 10/11/23 04:09 PM
Seller mortgage rate buy downs can help potential buyers by making homeownership more affordable and accessible. Here's how they work and the benefits they offer to buyers: 1. Lower Monthly Payments: Seller mortgage rate buy downs involve the seller of the property (usually the current homeowner or builder) paying some of the buyer's mortgage interest upfront. This results in a lower initial interest rate for the buyer. As a result, the buyer's monthly mortgage payments are reduced, making homeownership more affordable. 2. Improved Affordability: Lower monthly mortgage payments can help potential buyers qualify for a larger loan amount or make a home that … (2 comments)
interest rates: We're moving into a more "normal" market. Thank Goodness!
- 01/21/23 03:51 PM
I'm happy to report that our market, at least in our area of central Mississippi, has somewhat normalized. The "Bidding wars" for the most part are gone. Inventory is still ow, but slowly rising. Multiple buyers don't have to compete for the same home. Interest rates have stabilized around 6.5% or therabouts. I was reading an interest rate graph that showed rates from the 1970's to the present day. There have been only 2 times during that period where the rates were under 6.5%. That was in 2008 and again during the pandemic. So, we're in good shape now. It was … (0 comments)
interest rates: Are we looking at another housing bubble bursting?
- 04/27/22 04:22 PM
Absolutely not! When we saw the bubble burst in 2008, (That was hard on everyone in the business), there were a lot of causitive factors that were in place then that are not now. One of those factors was, if you had a pulse, you could get a mortgage an there were many loans out there, particularly the 80/20 ones where people could buy an $800,000 home with little or no money out of pocket. There were many people doing ARMS. They were burned when interest rates and their payments went up. People were actually able to have mortgage notes that … (1 comments)
interest rates: Interest rates have fallen!
- 03/19/16 11:32 AM
Anybody who has even considered buying a new home needs to act now!. With 30 year fixed rates hovering in the mid 3's and 15 year rates even lower, this is prime buying opportunity. At the risk of sounding like a used car salesman, these rates will not last and we will not see these low rates again in the foreseeable future. In an earlier blog, I stated that the average buyer does not ask the right questions of their potential lender. They ask about the rates and everybody's rates will be about the same. The difference is the closing fees … (3 comments)
interest rates: Buyer and Seller Myths #1
- 05/19/15 02:49 AM
Buyer and seller myths #1 "All mortgage companies are alike. I call around to see who will give me the best rate"
wrong, wrong, wrong!! First, everybody's rates are going to be about the same. It is the fees that are different. One lender might charge $800 in fees, another might charge $3000 in fees for the same loan. I get offers in the mail with ridiculously low advertised rates. You have to read the fine print. Yes you can get2.75%, but you have to pay points to close in order to get the advertised rate. In most cases, with today's … (0 comments)
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Seller mortgage rate buy downs can help potential buyers by making homeownership more affordable and accessible. Here's how they work and the benefits they offer to buyers:
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