What does the coming year hold for the housing market?

Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales. As always, we are happy to answer any questions that your clients may have.

Fixed rate mortgages protect you against rising rates since the interest rate remains the same for the entire term of the loan. Plus, you have the flexibility of selecting a 10, 15, 20, 25 or 30-year term (depending on the loan type). The main difference is the lower term options have higher monthly payments, which also means you are building home equity faster. Keep in mind you can use equity as a down payment for a new home if you sell your existing home or take out equity with a cash-out refinance.


Let’s connect so your clients can make their best move in the new year. So, If you want to know mortgage interest rates today in USA, Contact to our loan officer.


Source by: https://www.fairway-newengland.com/coming-year-hold-housing-market/

Comments

Post a Comment

Popular posts from this blog

Mortgage Pre approval Process USA - Best Steps for Loan Pre-approval

Image
What is a Mortgage Pre-Approval? Mortgage pre-approval is a promise from the lender that qualified to borrow up to a certain amount of money before you apply for a loan. With this meaningful promise, you'll be likely to get the home you deserve due to your creditworthiness. Step for Mortgage pre-approval:  The process of  mortgage pre-approval process usa  are follows as: Pre-Qualification or Approval? Mortgage pre-approval involves filling out a mortgage application and providing your Social Security number so that a lender can do a hard credit check. Mortgage pre-approval letters are typically valid for 60 to 90 days at which point they will need to be renewed with updated financial documents. In the meantime, you have the opportunity to address any issues that may be revealed in your credit report, such as a disputed account. The Pre-Approval Process For fisrt time buyers, you’ll fill out a mortgage application. You’ll include your identify...
Read more

How much down payment do you need to buy a home?

A down payment is a percentage of the total cost of the home you are purchasing that is paid to the seller, with the balance paid through your mortgage. A down payment typically ranges from 3-20 percent of the total home price, though this will vary depending upon the type of loan you qualify for based on your credit history, the type of home, and reason for buying. Fairway Independent Mortgage Corporation offers many flexible down payment options to fit our client’s unique needs! With our various loan products available, qualified borrowers can pay as little as 0-3% down on their home purchase. Of course, the higher the down payment, the lower your monthly mortgage payment will be. A down payment less than 20% typically requires the borrower to pay private mortgage insurance. Pricing Your House Right Is Crucial Even in a Sellers’ Market The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or le...
Read more

What is mortgage payment calculator USA ?

Image
This calculator is a mortgage payment calculator for the United States. The calculator can be used to calculate monthly payments and total interest paid for any type of mortgage, including fixed-rate mortgages, adjustable-rate mortgages, hybrid mortgages, and negative amortization mortgages. The calculator also works with any loan amount or down payment percentage. Mortgage payment calculator USA is a tool that can be used to calculate the monthly payment of a mortgage given the loan amount, interest rate and term. This calculator is designed for homebuyers in the United States. The input fields are in US dollars. The monthly payment of a mortgage is calculated by multiplying the loan amount by the interest rate and then dividing this product by 12 or 360 to get an annual payment. Mortgage payments are a significant financial burden for most people. This calculator allows you to calculate your monthly mortgage payment and the total cost of your mortgage. The first step is to enter the...
Read more