I bet you are sick and tired of hearing depressing statistics about housing values, government debt crisis, unemployment, and of course, the nightmare of getting a mortgage. Good. So am I. You might think that jumping on the bandwagon only gets you thrown off at the wrong time. Think again. Remember "buy low and sell high"? How did you do with the tech bubble? Did you get rich? History has taught us that all markets are cyclical, regardless of who's running the country. So when do we see the bottom? In my opinion, it's not a matter of debt load or government, it's simply when everyone that is sick and tired of their current situation gets sick and tired of being sick and tired.
However, if you wait for the media to tell you the world is going great again, rates will be higher and so will home prices. Yes, mortgages do take more time, more documentation and more patience than they did five years ago. But we're still lending money the old-fashioned way. We verify your income and your assets. It's really not that complicated. Do you have a job or are you self-employed? Do you have a 3.5% down payment? And decent credit? Call a licensed mortgage broker and see how much you qualify for, and don't listen to the hype. It will take less time than planning your next vacation, and may last a lifetime.
Thanks to Sean Mahoney with Megastar Financial for writing this article. Sean is a licensed mortgage broker and can be reached at 303.321.8800. Restrictions apply when getting a home mortgage loan.
Socials