ARE HIGH MONTHLY PAYMENTS HOLDING YOU BACK?
If you have been thinking about buying a home in 2023, but you are worried about high monthly payments, we have a solution for YOU. Our agents are solutions-oriented and have an entire toolbox of processes and systems available to them to help you determine the best option for making a move.
HIGH INTEREST RATES ARE FRUSTRATING
You want to buy a house. You know that paying rent is just paying someone else’s mortgage. You want to build wealth and equity. You want stability in your home. However, you may be frustrated by the combination of higher home prices and higher interest rates. Do you feel frustrated or defeated?
SOLUTION FOR LOWER MONTHLY PAYMENTS
Our “Call to ARMs” system helps home buyers get a lower monthly payment through the use of an Adjustable Rate Mortgage (ARM). While this isn’t the right strategy for every home buyer – it could be the perfect opportunity for you.
Are you planning to stay in the home for 3-years, 5-years, 7-years, or 10-years?
When you purchase using an Adjustable Rate Mortgage, you get to take advantage of a lower fixed interest rate for a specific period of time. After that period of time, your interest rates could adjust either up or down, depending on what the market is doing. Of course, you also have the option to refinance the home into a 15-year or 30-year fixed rate if you choose. Here’s how it works:
Say that you decided to buy a home with a 3-1 ARM. You will get a fixed, low rate for three years and then your rate adjusts each year after that. You can count on your monthly payments staying within the range you need for a specific period of time.
IT SOUNDS TOO GOOD TO BE TRUE – WHAT’S THE CATCH?
There is no catch! You can take advantage of the lower fixed interest rate for a short period of time, then when it’s time to adjust the rate you can decide if you want to refinance at that time into a longer-term fixed rate. If you choose not to refinance, your payments will adjust each year but they could go up or down. You are always in control – you will be able to weigh in all of the options before deciding how to proceed.
In fact, you can combine an Adjustable Rate Mortgage with our Interest Rate Offset System, which allows you or the home seller to “buy down” interest rates for you which could boost your buying power even more.
WANT TO KNOW MORE?
If you want more information, call our office at 469-759-3899 and talk to one of our expert REALTORS about all of the options to help you get into your own home so that you can start saving money and building wealth.
About the Author
Melissa Hailey is a successful real estate broker in Texas. She is also a certified real estate instructor and the CEO for Agent Advantage Coaching and Training, as well as a Certified Coach for Workman Success Systems. Her passion for helping REALTORS build their real estate business is evident in all that she does. The more agents she can help, the more consumers she can impact in a positive way through home ownership. Connect with her on LinkedIn @melissahaileyrealtor