Great saying in the real estate game

Great saying: you marry the house and date the interest rate.

It was a learning experience working with a recent buyer who in March was interested in a home and had passed.  That home is back on the market today with a $100,000 price reduction.

 

We look at the mortgage payment and the payment will be virtually the same today as it would have been at the higher price.  His response was SIGN ME UP!!  He realizes they can always refinance later when rates come down as they always do and, in the meantime, he will live in the home they want and reap the rewards of appreciation in value.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.