Throughout the approval process, push yourself to maintain your credit while lenders pull it.Navigating the purchase of a home can be overwhelming for first-time buyers. Lenders require
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Friday, September 23, 2016 by Christopher Cummings
I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.
Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!
While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.
Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.
Exit Flagship Realty
Chris excels in assisting his clients in buying, selling and leasing their properties. His professional approach is combined with his dedication, talent and a personality to make his clients feel very....
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