How much more home can I afford now that Interest Rates are 0%

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

I may have crushed the dreams of a home buyer who was excited that the media told hin interest rates were re ducted to 0%. How much more of a home would he be able to get? He was serious and you know what? I was happy he choose me to call. He had options and his co-worker referred me.

 

The first thing I had to do was let him down easy that mortgage rates were not 0%. That is the fed rate that the fed charges bans to borrow. He was puzzled. But i did tell hm rates were just over 3% and that did mean he would be able to get more of a home than at higher rates. The first step was getting him pre approved.

 

One of my favorite local and trusted mortgage brokers uses an online page to pre qualify buyers. Within the hour the buyer was pre qualified. The loan officer reached out and the buyer was once again happy having real information. The next 20 minutes was taken up by going over Corona virus questions. The buyer is anxious to buy, his lease is up soon and he wants his own home. As we spoke i had been looking up and emailing him listings that met his criteria. Two of them peaked his interests and we are going to see them.

 

 

IN THE END, he thanked me for my patience and answering his questions. He apologized for his "dumb question". It was not dumb, it was an opportunity for me to inform the buyer and give him real information he can use. Questions open the door for the consumer and the agent.

 

THE BOTTOM LINE is to know how important it is important that every Buyer or Seller should not just choose any agent, choose the BEST agent for the job. Having an agent that works for you is a must. Support your local businesses. 

 

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

We stand by you through every step in selling your home
.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
New Hampshire Rockingham County Auburn
Groups:
POSITIVE ATTITUDE for the Weary Soul
Bananatude
Bartender, Make it a Double
Crap-Tacular
Old Farts Club

Spam prevention
Show All Comments
Rainmaker
5,262,768
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Scott Godzyk we'll be seeing many who are running around thinking they will secure a zero interest loan.... pre-approval letters are needed now more than ever before...

Mar 17, 2020 06:14 AM #1
Rainmaker
3,545,490
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Scott - having access to a reliable and competent mortgage person is so important when home financing questions are concerned.  It's their specialty and they know the details not just an overview.  

Mar 17, 2020 06:15 AM #2
Rainmaker
1,529,447
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Scott Godzyk, my phone started ringing shortly after the feds announced the 0% interest not realizing it has nothing to do with mortgage interest rates.

Mar 17, 2020 07:42 AM #3
Ambassador
1,975,367
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Interest rates confuse many.  I believe the mortage rates upticked slightly, but they are expected to drop again from what I understand. Mortgage folks are sure staying busy right now with refinances. 

Mar 17, 2020 08:02 AM #4
Rainmaker
2,140,563
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Scott Godzyk - This was a really good explanation! I hope your post gets featured. Too many people may be confused by the advertising going on TV and Social Media. I absolutely love when there are really good agents like you who will defend and protect clients. 

Mar 17, 2020 11:42 AM #5
Rainmaker
848,090
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

He needs to thank his co-worker for referring him to you, so he could get straight answers in the midst of confusion and uncertain times.

Mar 17, 2020 01:08 PM #6
Rainmaker
2,677,173
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's a great explanation, Scott.  These are confusing times for many folks.  

Mar 17, 2020 09:54 PM #7
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have had 2 now Barbara Todaro but actually love the inquiries becuase it opens up an opportunity to talk to them and have them hire me to help them in their buying process. 

Mar 18, 2020 05:39 AM #8
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It is a must Michael Jacobs and i do wish more loan officers would reach out to assist. 

Mar 18, 2020 05:39 AM #9
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Most people do not know what it means and I welcome the calls and emails Beth Atalay to meet future clients

Mar 18, 2020 05:40 AM #10
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

They seem to be bouncing a little Debb Janes EcoBroker and Bernie Stea JD 

Mar 18, 2020 05:40 AM #11
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Thank you Patricia Feager, MBA, CRS, GRI,MRP , i alway hope that to get more eyes, butas always they seem to focus on a few for features

Mar 18, 2020 05:41 AM #12
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am not sure if he did, but is sure did Nick Vandekar, 610-203-4543 

Mar 18, 2020 05:42 AM #13
Rainmaker
3,120,514
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

They sure are Myrl Jeffcoat 

Mar 18, 2020 05:42 AM #14
Rainmaker
5,671,134
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Some consumers are confused with news reports. The smart consumers are anxious to take advantage of the very attractive mortgage interest rates.

Mar 18, 2020 06:26 AM #15
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
3,120,514

Scott Godzyk

One of the Manchester NH's area Leading Agents
Ask me a question
*
*
*
*
Spam prevention

Additional Information