Now Is The Right Time To Buy Your Framingham Ma Home In 2016

                            Now Is The Right Time To Buy Your Framingham Ma Home In 2016

First time home buyers and buyers upgrading can really benefit from the hostorically low interest rates in 2016. It is always tought to tell what will happen, but we know they are not going to go lower than this point right now. They can only really move upward so you need to gauge your needs correctly and now is the time of buying a bigger home and getting more home for your money. If you are a first time home buyer and thinking I can only afford a condo or townhome in Framingham, you may be able to afford a home with the current interest rates affording buyers to get into more home at a much smaller mortgage payment than in recent years.

I don't claim to be an economist, but i dont know if we will ever see this advantage to maximizing your lending dollars for a better home at a smaller payment each month. You always should budget you income and expenses and make sure that you can make that move, but chances are if you are paying rent in Framingham or in the Metrowest , you can step into a home or at least a condo for a comparable loan amount vs your rent payment. Your rent is putting cash in your landlords ocket instead of buying you future equity with your mortgage pay down.

The credit needed to buy a home has loosened a little too finally , so that even if your credit isnt perfect, and nobodys is, you can get a conventionla or FHA loan. FHA interest rates dont move much at all vs coventional is your credit is lower, which is a great plus for any buyer around 620 or below. Everybodys situation is different so you must think does it make sense to own a home in Framingham now while the interest rates can afford me more of a house, then in a year or two may allow. I dont belive we will see huge jumps in interest rates anytime soon, but you just never know with the FED. 

Now is the right time to buy your Framingham Ma home in 2016 for sure if you could only afford a condo 2 years ago, because the interest rate change may make that house payment affordable for your dream home now. It never hurts to talk with an experienced lender to discuss your situation. I have 2 great ones that can advise you on what your payment may be and down payment needs. There are programs with minimal down payments now for qualified buyers such as 3-5% down. These are definately options you need to discuss with your agent. Keep in mind that the more money you put down, the stronger your offer will be in multiple offer situations, which are so common now in Framingham and in other metrowest towns.

I am here to discuss with you what your needs are and what you are looking to accomplish whether buying your first home or selling and upgrading to a newer home, I am here to assist. 

                      Now Is The Right Time To Buy Your Framingham Ma Home in 2016