Locking in favorable terms with a fixed-rate mortgage. As of this writing, interest rates are at their historical rock-bottom. Receiving a fixed-rate mortgage lets you potentially lock in the most affordable terms we’ve seen.
The Money-Saving Secrets of the Home Purchase
If you’re tired of throwing rent toward the landlord, you can keep some of that money by putting it toward the principle of your very own home mortgage. Why bother? Here are some of the money-saving secrets that homeowners can enjoy:
Get pre-approved for a mortgage to do your research first. Ready to shop around? There’s no pressure. Get pre-approved for a mortgage and find out how much home you can afford—these are essential next steps that convince a home seller that you mean business.
Buy the home you can afford. When you know your total monthly liabilities, your income, and your credit rating, you can easily calculate just how much home you can afford. This will help ensure that you buy a house that remains a long-term blessing and not a strain on your budget.
The Stats: What You Need to Know Before You Buy a Home
Homeownership is common. In fact, statistics from 2022 show that the homeownership rate was a staggeringly high 65.8%, which means the majority of people have gotten out of the rent cycle and into their own home.
You don’t need experience. First-time home buyers constitute one-third of all home buyers, which means that you don’t have to feel intimidating by the home buying process, even if it’s your first time. It’s far more common to be going through this process for the first time than you might imagine.
The average length of time is low. Have house fever? You’d be surprised how quickly things can move. The average length of time between someone visiting a potential home for purchase and the closing date was only 73 days, or two and a half months.
Are you interested in finding out if a home purchase makes sense for you? Are you ready to join the ranks of homeowners and lock in potentially low rates?
Marco was such a pleasure to work with. I had A LOT of questions throughout the process and he was always able to answer them for me. This was a long process. I always felt like Marco had my best interest at heart. Feeling very grateful as I move into my new home 🙏- Michelle Riggs
Marco did an amazing job from start to finish. The entire process was smooth and he communicated with me every step of the way to ensure I knew what was going on and what the next steps were. His professionalism set me at ease and made the home buying experience a pleasure.- Annette Ramirez
I have the pleasure of working with Marco from Home Loan Approval Center, he is a true professional. He works tirelessly on the file and update me throughout the loan process. He is very proactive and doesn't wait for the problem to come up, as he already got all his bases covered. You are in good hands with Marco! Highly recommend.- Howard Kuo
Thank you for the amazing and exceptional service Marco and Kimberly provided. The whole process you provided detailed information and kept us up to date. You took the time to explain and provide examples of pros and cons for both Paul and I to make a decision when we undecided. This was a great experience finding a home and closing in less than 40-days. I know all parties to this transaction were very happy and impressed with the process. Thank you so much Marco and Kimberly.- Martha Camareno
My parents used Kim and Marco at the Home Loan Approval Center to help refinance their primary residence and the experience was so easy that they decided to refinance another house as well with them. They are quick to respond to emails and or phone calls, very professional and super helpful when it comes to questions you may have about refinancing. They had their team come to us which made everything super easy.- Corey C.
After having the best experience with Marco as my mortgage broker when purchasing my home last year, I knew I would never want to work with anyone but him in the future. So when I was thinking about a re-fi, Marco was my first call. And I am just as happy the second time as the first! Marco is SO knowledgeable and helpful, explaining everything to me and answering my MANY questions along the way :) He got me the best deal and I cannot believe how much I am saving after refinancing a year in! I was also extremely thankful for how responsive Marco always was! I have never had such quick responses either in business or in real estate, I could always count on him. I am very grateful!- Nic Gaudet
Marco was such a pleasure to work with. I had been dealing with two other brokers since June and they couldn’t help me in the end. Marco was able to get me an approval in a little over a weeks time. Moving me from FHA to a 30 year conventional loan. Marco identified issues immediately where the other brokers missed, in which layer caused delays with no approval. I am very happy with all the help and work Marco did on my deal. I will definitely use him in the future and will refer all my family and friends.- Diana Zavala
What You Need To Know About A Home Purchase
Why should I buy a home rather than rent?
Everyone’s situation is different. However, in the era of low interest rates, a new home purchase can make financial sense for a lot of people. Locking in these low interest rates can mean paying less for more square feet in some cases. That said, every person’s situation is different, and your motivations for buying a home (including the need for more space or privacy) may differ from other people.
How do I start the home buying process?
One of the best ways to show that you’re serious about buying a home is to get pre-approved for a mortgage. This will give you some leeway when it comes to making offers when you view homes. And in some cases, it’s viewed as a necessity when you go out shopping for homes. In many cases, the process is as simple as finding out what you can afford given your current income, levels of debt, and financial obligations. The good news: it’s a lot simpler than you think!
What kinds of financial commitments do I have to make?
There are a lot of options for financing when you make a home purchase, so don’t feel that you have to commit to any particular one at this point. You’ll find that it’s possible to make a 20% downpayment, for example, but there may be types of financing available that require far less—as low as 3%, depending on your situation.
Why is now a good time to buy a home?
While it’s true that rates are up from last year’s historic lows, there are still many reasons why now could be a great time to buy. For one, falling home prices mean that you can get more house for your money. In addition, there is less competition from other buyers, so you may have an easier time negotiating a lower price. Don’t let rising rates scare you off – there are still plenty of reasons to buy the home you’ve always wanted!
What is the next step?
Click through our buttons above to find out whether you qualify for great terms on a new home purchase!