Now is a great time to get back in the home buying game. There has been a lot of concern as to if buying a home is a smart decision with the way today's market is. The simple answer is yes, but why?
As a mortgage lender we have witnessed many people back out of their home buying dream because they were afraid that they would be paying too much for a house, interest rates are too high or there will be a crash. Nothing is guaranteed, but we can detail out several reasons as to why getting back into the home buying game is a good idea.
All of us at Direct Lenders, LLC are ready to help you every step of the way and guarantee that you end up in a loan program that fits your needs. Also, we do things with a special care that others can't offer.
3 Reason To Purchase In Today's Market
1) Don't Buy The Rate
We have all seen what the Fed has done the past few months with their historical rate hikes for more than just mortgages. All their efforts are to try and resolve our inflation issue. While a higher interest rate may be daunting to some the truth is that the current rates are still better than they have historically been over the past 30 years. We may not be seeing the incredible low rates like we did in 2021, but there is good news. If you land a 6% interest rate and then rates drop to 3.5% then that is when you refinance to the new rate. The key to remember is if your budget allows you to purchase a home and that is your mission then there is no need to wait. Our job is to make sure you can afford your mortgage and our main focus is to take care of our clients.
2) Prices Are Dropping
There has been a giant surge in the prices of homes over the past year, but there seems to be light at the end of the tunnel. The higher home prices have really hit the younger and first-time home buyers particularly hard. Many people saw an opportunity that when house prices started to rise that they might be able to sell their home for an inflated value. While that has lasted for a little while we have seen the prices of homes start to drop after sitting on the market for a longer period of time. Over time we have started to see prices drop as people slowed down on purchasing. It is great to see people starting to get back into the purchasing game and the upcoming season is going to be a perfect time to do so.
3) Markets Aren't Always Predictable
It is easy for us to jump to a conclusion and state that the market is heading for or already in a recession, and that the housing market is going to see another crash. While that can be a daunting concept, the truth is that we cannot accurately predict everything the market is going to do. Evidence shows that there is a good chance we can fall back into the dreaded "R" word that most like to leave out of their vocabulary. All that to say that a recession doesn't mean buying a home should be on the back burner. After the mortgage meltdown back in 2008 to 2012 the industry leaders completely transformed how the mortgage industry is regulated. All to prevent the same issue situation from happening again. While we understand the past few years have been unprecedented we are confident that our industry is much better prepared to come out of this stronger then ever. The key is to not panic and keep serving the people. That's what we do!
Note: Trust your lender to help you make the best home financing decision for you and your family!
Food For Thought
Two amazing sites to view every day that will give you a better understanding of the mortgage and real estate industry are linked below:
We Are Here For You When You Are Ready
All we care about is making sure that all of our clients are confident in their home financing decisions. We work endlessly to guarantee all of our trusted borrowers are well informed and better equipped to finance their home. Direct Lenders, LLC is here for you. When you are ready we will be right here ready to serve you.
Make sure to give us a call at (877) 455-0440 to get started with your loan application or continue to explore our website for some really great information about why we are the only lender for you.