#Elena’s December 2020 Real Estate Update for BUYERS
December 23, 2020
Could a 1% interest rate drop add $30,000 to your home buying budget?
IF YOU HAVE BEEN ON THE FENCE ABOUT BUYING A HOUSE, start paying attention to the current interest rates.
As per BankRate.com, the average rate for a 30-year fixed-rate mortgage is 2.86 percent as of December 21, 2020, declining 6 basis points over the past seven days. What does it mean for you?
It means that every time the interest rates drop, you can afford to buy a more expensive house than before. In fact, a 1% interest rate reduction can add $10,000, $20,000, $30,000, or more to the amount you can borrow to buy a house.
Read the article in TheMortgageReports.com to see how this works and how you can grow wealthier (by buying a more valuable investment) – with zero additional investment of your own!
Warning: Rates can rise and fall overnight due to economic or political changes, so #Elena recommends locking your higher purchasing power before the rates start to rise again.
Looking for a list of the best places to buy a house in DFW?
IF YOU HAVE NOT DECIDED WHERE YOU WANT TO LIVE YET, this might help you to get started!
Best places to live in DFW: Best Affordability (A-rated schools)
Best places to live in DFW: Best places for families with kids (A-rated schools)
Best places to live in DFW: Best places for young professionals (best for nightlife, parks, coffee shops, and more)
Best places to live in DFW: Best places for retirees
Best places to live in DFW: Most diverse cities and suburbs (A-rated and B-rated schools)
Looking for a way to get a 0% down mortgage in 2021? These grants can help!
MANY FIRST-TIME HOME BUYERS PUT OFF BUYING A HOUSE because they struggle to save up for a large down payment.
Some realtors do not educate their clients about the various government assistance programs available to them. The state of Texas and various local governments are providing specific grants to help Texans to transition from renting to homeownership.
Do you know anyone who is renting because they cannot save up for a down payment? Make sure to send them this info.
Do You Know How Much House Your Family Can Afford to Buy?
USE THIS EASY TO USE HOUSE PURCHASE CALCULATOR FROM SMARTASSETS TO FIND OUT!