Historically Low-Interest Rates – A First Time Home Buyers Dream
Right now home interest rates are at an all-time low.
Did you know that with good credit, you can actually get 2.75% as a home loan interest rate? That means that you can buy more house for less money and that’s exciting news. The first house I bought in 2006, I paid 6.14% interest. In 2019, rates were down to 3.8% and we were thrilled. We believed that rates could not go any lower. Just goes to show you that the Bob Dylan some is correct and “that the times they are changin”.
Look how much more you can afford.
Based on $190,000, this is what your payment would be:
That’s less than your average rent in Sierra Vista! The average home price is $190,000 which is also lower than home prices in either 2006 or 2019. As a First-Time Home Buyer this is the perfect time to buy.
Here are some steps for you to take towards home ownership.
If you would like more in-depth information about our local market, talk with me, your local REALTOR ®. I will be happy to help you navigate the market. I have the REALTOR® trademark next to my name to ensure that you are working with the best of the best.
If you would like to receive a free copy of the Mid Year State of the Housing Market Report, just click here. The Report will explain what has happened in Real Estate so far in 2020 and what trends are emerging in the second half. Also, check out the local housing report for a more in-depth look at your local market.