Are considering a home purchase? Need a few good reasons to buy a new home? Here you go!
1. Home Prices Continue to Rise
Many of us may forget that housing only bottomed out last year. While recent price increases aren’t sustainable, there is still plenty of room for home values to grow from all-time lows experienced in March 2012. Right now, home prices are still roughly 25 percent below 2006 peaks. Home prices are expected to rise approximately 3.9 percent per year through 2017 according to CoreLogic.
2. Rates are Still Low!
While mortgage rates may have climbed a bit recently, mortgage rates are still much lower than they have ever been in years. Average mortgage rates continue to hover below 5%. In 2007 and 2008, average mortgage rates were 6.34 and 6.03 percent respectively. That’s still really low when you consider the average 30-year fixed mortgage rates of the 1980s. In 1981 the annual average 30-year fixed rate mortgage rate was 16.63% (Source: Freddie Mac PMMS)
3. Homeownership is an American rite of passage.
It is still part of the American dream. 96% of homeowners see homeownership as a positive experience and 88% of renters aspire to own a home. This reason is not so much about the money. In fact, the top four reasons to buy a home according to Fannie Mae’s National Home Survey, historically, are not because of home prices or mortgage rates. The top four reasons people buy a home are:
- To have a place to raise children and provide them with a good education
- To have control over their living spaces
- To acquire more space for family
- To ensure family safety
Buying a New Home
We realize that buying a new home is a personal decision that you will ultimately make on your own time – when you are good and ready and regardless of any reasons thrown your way. In the meantime, if you or someone you know needs the advice of an experienced mortgage lender, we hope to be there to assist you. Our loan officers pride themselves on helping new home buyers with one of the biggest purchases they will ever make. Inlanta offers a variety of loan programs to meet specific financial needs including FHA, USDA, FHA 203k (Loans for Fixer-Uppers), VA and conventional mortgage loans.
Use our branch locator to find a loan officer near you, or simply apply online here and we will redirect you application to a loan officer qualified to originate mortgage loans in your area.
About Inlanta Mortgage – Celebrating 20 Years
Celebrating its 20th Anniversary, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.
Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.
Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS #1016. Inlanta Mortgage is proud to be named to the Scotsman Guide Top Mortgage Lenders 2012 list and to be among the Top 100 Mortgage Banking Companies in America in 2012 and Fastest Growing Milwaukee-Area Firms.