What To Look For When Buying A House Home Purchasing Tips And More

Dated: August 20 2013

Views: 3182

The experts at Loan Love urges home buyers to:

  • Act now while interest rates are low
  • Be realistic about the mortgages you can afford.
  • Know a home's real value
Acting now on interest rates can be decisive for any future home buyer. The article had this to say on the matter: "Unlike a few years ago – or even a year ago – when mortgage rates bottomed out at all-time lows, the market and unemployment levels are much more stable now, and interest rates have begun to rise in response to those indicators. Chances are, you won't get a better rate by waiting around, so start comparing rates and doing your homework, and then lock in your rate as soon as you've found the best mortgage for your needs."The Loan Love article also cautions that home buyers be sensible in what they can afford. Avoiding mortgages that can be too much for a loan borrower's financial scenario can save the trouble of paying a sizable fee down the line. While certain mortgages such as adjustable-rate or interest only mortgages may suit other loan borrowers, they are not for everyone. Loan Love suggests that reading on the different types of mortgages will be most logical move before choosing a mortgage type.Finally, a home buyer should get to know the real value of their home before making a hasty purchase.Home values can fluctuate, whether through homeowners trying to make ends meet with their loans or bank sales flooding in that may alter the pricing of homes. Doing research by comparing past sales of an area can provide a rough idea of how much a home will cost in the end. This can be easily done with the many comparison features found on multiple websites, such as Zillow.com.
Speaking with a real estate agent can also help in providing comparable sales within recent years.
These steps can help provide borrowers with the best possible deals when it comes to purchasing a home. For more information and to view the full article, please visit LoanLove.com.
Please contact me for further information.

Marta Narvaez
exitwestrealty.com
(915) 875-5472

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