Don’t stress; if you’re considering buying, you didn’t miss the boat.
If you’re tired of renting or living in your parent’s basement and finally want to buy a house, I have wonderful news for you today. If you’re a first-time homebuyer and didn’t buy in 2020 or 2021, you may be thinking, “I missed the boat; interest rates are increasing, inventory is low, and I’m not going to get a house.” However, you did not miss your chance.
Rates have risen slightly, but I’ve been in the business for a while, and if your rate is less than 8%, you’re still getting a great rate. The little bit that they’ve climbed isn’t going to affect you much as a first-time buyer. Besides, there are many excellent programs for first-time homebuyers: FHA loans allow you to put only 3% down, and some conventional loans let you put down only 5%. You could also use a money gift from a family member or other creative things to get into a home.
"You did not miss your chance."
With a fantastic real estate agent who refers you to a great mortgage lender, you can still buy the house of your dreams. You need to get pre-qualified first, just like you would if you were buying a car. Another example is if you wanted to go on a shopping spree, you would want to know what your credit card balance is first, right? Knowing how much you can afford to buy means you're ready to go out and feel confident when you look at houses.
If you have any questions or want to buy a home this year, give my team a call or send an email. We’ll show you how to make the process stress-free and arm you with the knowledge of what you can buy.