The 4th of July is all about independence. It’s a celebration of the United States winning our freedom from the British. In the spirit of that holiday, we want to talk about the ultimate form of American freedom: owning your own home. The only way to truly become financially independent is home ownership. Renting is just throwing money down a hole, while owning your home is an investment in yourself, in your future. Here’s why the 4th of July is a great time to buy a home or refinance!
First, rates are near all-time lows. If you want to buy a home, or you have a mortgage and want to save money, this is your chance. Even with home inventory stretched, you can still find bargains and save money.
Rents are also rising quickly. The national rent average has risen steadily year after year, outpacing wages. This has a chilling effect on home purchases, as higher rents cause people to get stuck in their apartments for years, unable to raise the money for a down payment.
With FHA, you can buy a home with only 3.5% down, helping families that have been hit by high rents to buy the home of their dreams, and liberate themselves from rising rent.
This is also a great time to refinance, with low interest rates combining with a cramped market for homes to make your home more valuable. The average interest rate 10 years ago was over 6%, guys. If you haven’t refinanced since then, it’s time to save you some money.
If you’re ready to take rising home rates and low interest rates and use them to your advantage, call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?