Rising Interest Rates,
Yes, that does impact you
Nothing is for sure, but what we do know is it appears the topsy turvy market we have been in for the last two years, isn’t likely to give us a smooth ride in 2022 either. Currently, we are seeing interest rates are rising. Just how much is uncertain.
At the end of the day, if you know you want to move in 2022, our time together is well spent creating your timeline and a plan. I can say with confidence now is the best time to align with a lender, get pre-approved so you are ready to go. As soon you find your home, discuss locking in your rate with your lender. From what we are hearing it appears the rates may continue to increase little by little. It important if you are planning to purchase a new home this year, to get started now.
NOW is the best time for you to put your action plan into motion.
Step one in this process is the most critical and that is getting pre-approved. Especially now as I have shared! Contact your bank or private lender today. I can provide you a list of basic documents you will need and suggestions on bank and/or mortgage lenders you can contact if you are not sure where to begin. Most will do their best to meet with you the same day!
I hear from clients all of the time that they don’t want to move until Spring. That is less than 6 weeks away and the average closing on a home once you go under contract is 6-8weeks. They also haven’t done their pre-approval yet because they don’t want to get started too early before they have found a home. Just a reminder, to show you are ready, willing and able, we will need to provide a bonafide offer you need to have a pre-approval letter to accompany your offer.
Your Real Estate goals are important to me.
Helping you formulate a plan now, is crucial as your agent .
The market moves fast- and we need to do the same!