Addison Baldwin Group

First United Mortgage Group

  • Home
  • Blog
  • Pre-Qualify Now
  • Rate Quote
  • Contact

Why Now Is A Great Time To Apply For A Home Loan

July 30, 2020 by Michael Addison

Why Now Is A Great Time To Apply For A Home LoanThe idea of owning a home is enough to bring joy to nearly anyone’s eyes. The reality is that many people are a bit skeptical about looking for a home in the present climate. While the pandemic can make it hard for people to go outside and explore, now is still a great time to apply for a home loan.

This is a great opportunity for people to fulfill their homeownership dreams. There are a few reasons why now is a great time to look for a home.

The Property Prices Are Low

First, property prices are low right now. There are a lot of people who are looking to move and not many people are looking to buy a home. This means that property prices are lower now than they have been in the recent past.

There are a few reasons why this matters. First, those who had a home in mind might be able to buy one for a lower price. Second, with a cheaper purchase price, the taxes on the home are going to be lower. This could also mean that a potential homebuyer might be able to put down a lower down payment.

Interest Rate Are Low

In addition to property prices being low, interest rates are low as well. Some people might only focus on the sticker price of a home; however, the interest rate on a potential home loan is even more important. Even a few points of interest could end up making a difference of hundreds of thousands of dollars over the life of a loan.

Lenders are looking for people to take out home loans right now. This means that they might be willing to give someone a break on their interest rate, particularly if they have money to put down.

Now Is A Time To Buy

There aren’t a lot of times like the present when it comes to buying a house. There are many people who have been looking to buy a home but might not have been able to afford one. The current climate makes it a great time to apply for a home loan.

Why not get pre-approved and become a more competitive applicant for a current house on the market?

Filed Under: Mortgage Tagged With: Home Buying, Interest Rates, Time to buy

headshot

Michael Addison & Jessica Baldwin

Loan Officer
NMLS 603214 | 857625
Call Us Today!
214-233-5123

PRE-QUALIFY NOW  

FREE RATE QUOTE   



Addison Baldwin

Connect with Us

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Browse Articles by Category

Recent Articles

  • 3 Tips To Consider When Buying A Home With An FHA Mortgage
  • S&P Case-Shiller Home Price Indices: Home Prices Fall In November
  • Is It Worth It to Put More Than 20 Percent Down?
  • What You Need To Know About A Closed-End Second Mortgage
Equal Housing Lender
NMLS Consumer Access
Member FDIC | Equal Housing Lender | NMLS# 400025

Looking for something?

Our Location


2805 N Dallas Pkwy, Ste 525
Plano, TX 75093

Copyright © 2023 · Powered by MySMARTblog