Brandon Menchaca

5 Reasons to Buy a Home in 2015

Thinking of buying a home? If so, then good.. If not, then read below..

Top 5 reasons to buy a home in 2015

 

1.  Interest Rates are low! – If you haven’t already noticed, interest rates are near all-time lows.  Now I’m sure you have heard this over and over again the last couple of years, but it’s true!  As the economy gets stronger (and it is!) and the dollar gets stronger (and it is) the feds will surely be raising rates soon..  When you ask?  I don’t know, but wouldn’t you want to err on the side of caution and strike while rates are still in the high 3%’s?
 
2.  Buying is Getting Cheaper! – What I mean is…  Even though rates have been extremely attractive, money has still been “tight.”  When I say “tight” I mean that it has been very difficult for credit-worthy buyers to scrape together the necessary 20% down and even more difficult for them to qualify for loans.  Not anymore!  ..there are now loan products that offer a loan to credit-worthy borrowers with only 3% down.  …I know what you are thinking, and I assure you this is not the same sort of loan products that got us into the big crash of 2007.  These products are not sub-prime or interest only.  They are loans designed to give qualified buyers who otherwise were priced out of the market a chance to own a home.  
 
3.  FHA lowered the Premium for Private Mortgage Insurance! – Yes sir!  ..the premium for mortgage insurance has been virtually cut in half.. This means the cost of financing a loan without 20% down has gotten much much more affordable.
 
4.  Rents Are High! – Naturally, since many people who would typically qualify for loans haven’t been able to, this has driven the prices of rents up.  
 
5.  Even if You Don’t Have a Mortgage, You Are Paying For One Anyway! – Now let’s think about this..  you submit a check every month to your landlord.  What do you think he does with it?  Surely he’s not going to Disneyland.. well at least I hope not.. that would be weird.  What they are doing with your rent is paying their mortgage.  Allowing you to make their payments while their home gains equity.  
 
It’s really a no-brainer, If you haven’t thought about buying a home, now is the time to do so.  Do not be among the people who talk about how they once had the chance to buy, but now the prices or interest rates are too high..
 
Life is too short.  Leverage yourself, your time, and your money…spend more time doing what you love.
 

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