A 365 Day Difference in Homeownership

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:

  1. Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home?
  2. Move-up or Downsize: Another option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit for your family.
  3. Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of renting vs. buying

Why 2019 Was a Great Year for Homeownership

Last year at this time, mortgage rates were 4.63% (substantially higher than they are today). If you’re one who waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates combined with increasing wages are making homes much more affordable than they were just one year ago, so it’s a great time to get more for your money and consider a new home.

The chart below shows how much you would save based on today’s rates, compared to what you would have paid if you purchased a house exactly one year ago, depending on how much you finance.

interest rates to buy a house in cape coral

Bottom Line

If you’ve been waiting since last year to make your move into homeownership, or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Reach out to your local real estate professional: Abby Stiller to discuss how you can benefit from the current rates. 239-284-8637

information provided by KCM

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Topic:
Real Estate General Information
Location:
Florida Lee County Fort Myers
Tags:
low interest rates
loan officers
dont rent
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rsw
buying a home in lee county
buy a house in 2020

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Rainmaker
3,278,238
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Abby,  good information for buyers to know about.  Hope you havea great day!

Dec 14, 2019 08:02 AM #1
Rainmaker
3,318,150
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Your savings chart hits a home run ...being easily understood and eye catching !

Dec 14, 2019 01:56 PM #2
Rainmaker
216,223
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

Great advise@

Dec 15, 2019 06:40 AM #3
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Rainmaker
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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