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1)
Rising mortgage rates can translate into higher payments if you
only think in terms of 30 year fixed rates. However, many options
are available that may work within your budget, including many variations
on fixed-rate financing. It's important to examine these options
before making a commitment to purchase. You'll be in a much better
position to negotiate on a purchase if you already know your financing
options.
2) Home values have historically increased an average of 5% per
year. This is a geometric progression, not a linear one. The result
is that home prices go up faster than rates could possibly go down.
You may have a lot to lose and nothing to gain by waiting. Rates
would have to fall 0.5% to offset the expected price increase over
the next year. Right now, the most likely scenario is for rates
to rise slightly. (If you have not already done so, please contact
me or email me at:
[email protected] and ask for a no obligation
review of your current mortgage. Please include your name and a
daytime phone number.)
3) You are not alone in this situation. The potential buyers of
your home are struggling with the same questions. We've put marketing
plans in place for many homeowners and homebuilders that attract
more qualified buyers by offering them a lower payment. We can examine
these same techniques to provide a marketing advantage for your
home.
4) This question is very personal. We offer a tax analysis for first-time
homebuyers, educating them on the tax advantages of ownership. Many
clients have found our exclusive move-up tax analysis to be equally
valuable. Your tax savings as a direct result of moving up to another
home can be significant, in most cases saving hundreds of dollars
a month. Again, contact me or
[email protected] to arrange a free move-up tax
analysis.
Also, remember my Cherry Creek Refinance Certificate plan, offering
a $200. certificate toward refinancing your purchase mortgage when
you are ready. If you buy now, you can use the certificate to refinance
when rates cycle down again in the future.
Here's the important thing to remember: By focusing on your payment,
not the rate on a specific mortgage type, you can make more informed
decisions. If you are thinking about buying, arrange to spend a
few minutes with me so you can have the answers that work for your
situation.
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