This is the Year to Buy Your Dream Home!

Here are five great reasons why you should consider buying a home today instead of waiting.


1. Prices Will Continue to Rise
There’s no time like the present to take the next step and purchase your dream home.  CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.  The bottom in home prices has come and gone. Home values are expected to continue to appreciate for years. Waiting to buy may mean paying a higher price in the future.

2. Low Down Payment Mortgage Options
Nowadays, home buyers no longer need to have 20% for a down payment.  For a limited time, Saratoga’s Credit Union is offering low down payment mortgage options and the possibility to waive PMI for those who qualify. We also have financing available for  lake or second homes, investment properties and more.

Learn More About Mortgage Options

3. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors
are in unison, projecting that rates will increase by thistime next year. An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense may increase if a mortgage is necessary to buy your next home. 

4. Either Way You are Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living rent-free, you are paying a mortgage - either yours or your landlord’s.  As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.  Are you ready to put your housing cost to work for you?

5. It’s Time to Move On with Your Life
The cost of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But what if they weren’t? Would you wait?  Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.