Right now is the best time to make a purchase in our real estate market.
Right now, many think that it’s a good time to wait to buy since interest rates are high. However, that is not true because there are many loan programs available. You could get a 4% interest rate from some lenders. Even if you get a higher interest rate, your mortgage would change by about $500 per month, based on a $1 million loan. That essentially means you'll be paying about $6,000 per year. Interest rates cannot stay too high for too long, which means that you’ll probably only end up paying about $6,000 per year for the next two years.
When you wake up one day and see that interest rates are decreasing, you're already too late. At that point, everyone will be trying to jump in and see if they can find the property because they know that rates will keep going down and property values will keep increasing. That is the time when you should be refinancing, not buying.
If you have any questions, don’t hesitate to reach out to us by phone or email. We have programs to get you $25,000 at no cost and a lender who can give you a sub-4% rate, depending on the property. We look forward to hearing from you.
