Current Rates are still low!
Our market had experienced record low rates over the past few years. Just a couple years ago it was not uncommon to see rates as low as 3.5%! Although rates are starting to steadily be on the climb, now is still a great time to buy. Rates for VA buyers are still hovering around 4.5% as of 2019. With Spring time approaching the housing market in the Fort Hood area is going to heat up and will be a great time to buy. If you have been considering buying your first home, or maybe just upgrading to your dream home, take advantage of the interest rates before they continue to rise.
The home you love today will cost you more money next year
With rates expected to rise more than 1% over the next year, this will ensure that what you would pay for a home today will significantly increase next year. The same $200,000 mortgage that you get today would end up costing you more than $200 more monthly if you waited until next year. While just $200 may not seem like a lot of money, if you look at that number over the course of your 30 year mortgage, you will end up spending $72,000 more over the course of the loan. I don’t know about you, but there are a lot of things I could do with that much money!
Want more information?
I can help you find a local lender that can get you pre-qualified now for a home. I would love to help you take advantage of current low rates and get you into your dream home. If you want to save money, Buy now! Take advantage of the mortgage calculator on my website to see how rates can affect your price point. You can browse homes in the Fort Hood area for sale and use the calculator to estimate your payments. Call or message me if you would like more information on current rates or loan options. I’m looking forward to talking to you soon!