There are many things for the buyer to take into consideration when purchasing a home especially during the summer months when the market seems to be favoring sellers over buyers. Every buyer will have things that are especially important to them but might not be a top priority for others. Let’s take a look at what every buyer can agree on that they need to pay attention to.
The Interest Rates
Interest rates extremely low right now, check out the latest information. The average 30-year fixed mortgage rate is at 3.43%, the lowest it has been in months which is great news for buyers. The Federal Reserve has not yet determined when they are forecasting interest rates to rise (hint: they think it might be soon) but they have not officially raised them yet. So it is crucial for buyers to understand that rates are not going to be this low forever and it might be time, sooner rather than later to think about taking advantage of them.
The Home Loan
Here at First Ohio Home Finance, our Loan Officers are dedicated to finding the right loan for everyone’s needs. Whether you can put down the recommended 20% down payment or not, they will find a loan for every person’s current financial situation. Head over to our Types of Loan page to explore the different options.
As the buyer, your timeline is just important to us as it is to you. If you need to be settled into a new home by a certain point that is something we want to know right from the beginning. Also if you are planning a trip away during the buying process, that is something to communicate as well so we know if you won’t be reached […]