Low Interest Rates plus Inventory = Buyer Opportunity
The good news for buyers keeps getting better. Today we learn that the interest rate could drop even further for home buyers. The rate being discussed, as low as 4.5%, would only apply to home purchases, not refinancing an existing home. We don't know much more than that, but we do know that the support for buyers has never been stronger.
Be prepared to take advantage of these low rates by starting the process now. Have you decided that Heritage Shores is where you want to retire? Have you zeroed in on the particular house? The next step would be to obtain mortgage pre-qualification, get together with your Buyer Agent and make an offer. Once you have a contract in place that both you and the seller are happy with, your agent and your loan officer can help you decide when to lock in an interest rate. We find that most buyers in the 55+ market are well qualified and generally obtain the best mortgage rates in any market. That rate could be somewhere between 4.5% and 5.5%, depending on your particular situation.
If you're not sure what is currently for sale at Heritage Shores, click here for the most current information.