Tyler Farnham of JTS & Co.
Mortgage Professionals explains how this year's pandemic has led to a housing demand for suburban homes with greater spatial distance from one's neighbors.
Late summer is a great time to purchase a new home, especially with mortgage rates remaining at near-historic lows.
Jts & co.
Mortgage minute 8.25.20 good morning, i?m tyler farnham 1.
Average mortgage rates?for a 30- year loan rose to 2.96% this week from?an all-time low of 2.88% from the week prior.
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Lower rates make more people eligible to purchase a home.
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According to fannie mae, low mortgage rates are expected to?remain through 2021, as the economy struggles with the fallout from the pandemic.
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If you?re looking to purchase or refinance, now is the time to take advantage of the low rates.
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The biggest news to come out of the mortgage industry last week, is that those who refinance, will now pay a half a percentage point fee.
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Government- sponsored enterprises, fannie mae and freddie mac will add this fee to all refinance transactions starting sept.
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If you are refinancing to save on your monthly mortgage payment, after you account for closing costs which are about 2% - 6% of the loan amount, plus this extra fee, your ?break even?
Point would take a bit longer to reach.
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However, if you plan to stay in your home past your break-even point, a refinance could still make sense and save you money over the life of your loan.
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If you want to see if a refinance is in your best interest, give our loan advisors a call at 662.329.9090.
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We?ll weigh all your options and help you determine what is the right refinancing path for you.
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As many of us continue to work remotely from home, and many schools will be remote too, smaller, quieter neighborhoods are making more sense.
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This is especially true for those who want a home office, a backyard, space for the kids to homeschool, and more.
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If you?re looking to escape city life for quieter surroundings, now is the best time, thanks to the super low mortgage rates.
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Contact us today so you can get pre-qualified for your suburban dream home.
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Many real estate experts feel that august and late-summer is the best time to buy a home.
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This time of the year tends to have a large selection of homes on the market.
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You may also get a better deal than if you had bought in the spring or early- summer.
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This is because august tends to have the most price cuts, while inventory levels are still healthy.
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If you are thinking about purchasing a home, now is the time to get prequalified.
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Our prequalification process is simple with our text and online applications 21.
If you are in the market to purchase or refinance a home, give jts & co.
A call to see what you qualify for.
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We are local, trusted and experienced and take pride in helping families with their homeownership needs.
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Visit our website or text jts to 33655 for our prequal application.
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At jts & co.
We understand there is more to getting a mortgage than just pushing a button.
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We want to be your lifetime mortgage advisor.
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Which means, whether you are a first-time homebuyer or a seasoned one, we want to help you with all of your homebuying purchases or refinances along the way.
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Now.
And ten years down the road.
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Give us a call to discuss your situation today!
Thank you for joining me today, be sure to tune in next week!
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