Mortgage rates continue to hit new lows

Whether you ar a first time home buyer or a buyer considering to move up, if you are on the fence about buying a home in Lake Charles, LA don't wait!  Many first time home buyers are taking advantage of the low mortgage rates.  The Washington Post just published an article about low mortgage rates and encouraging signs of life in the housing market.  RIS Media also published an article this week about the low mortgage rate trend.

Buying a home now and taking advantage of the current low rates, will almost ensure your home's appreciation in the future.  Many factors  affect your loan  application such as credit qualification and loan flexibility that will contribute to the final decision of what type of  mortgage loan best fits your needs.

Lower rates reduces a house note and a new trend is being used by some homeowners  to actually add money to their monthly payment in order to decrease the principal balance of their loans at a much faster pace.  This trend is called equity building and the rapid payment process allows borrowers to:

• Pay off the principal balance faster
• Lock in near-record-low interest rates
• Shorten the length of their home loan
• Own their home faster
• Pay substantially less mortgage interest

By speaking with a mortgage professional,  you will be advised and know what you can afford .  Once you have a pre-approved amount you will feel comfortable with, then you will feel secure to begin your Lake Charles home search.  When you do begin to search for your new Lake Charles home, give me a call I would love to assist you!