Freddie Mac has announced mortgage rates have hit new record lows with the average 30-year mortgage rate being 3.84%. No, that’s not a typo. It is 3.84%.
I’m currently representing a buyer on the purchase of a new construction home in the Woodlands and the terms of their mortgage are 0.8% origination fee with a 30-year fixed interest rate of 3.8%. These are FABULOUS interest rates which makes for a great time to either refinance or buy a Spring Texas home.
If you can get pre-approved for a home loan but don’t want to deplete your entire savings, you do have options. You can negotiate with the sellers to pay some or all of your closing costs and prepaids reducing your out of pocket expenses. If you need help with the down payment, you can ask your parents for the money.
Purchasing a Spring Texas home can still be within your reach. Rumors of 20% down payment requirements are just that rumors. They are NOT true. Behind a VA loan which has a 0% down payment, a FHA loan has the next smallest minimum down payment requirement of 3.5%.
If you are ready to take advantage of these ridiculously low interest rates, call us at 281.300.3141 or 281.804.8626. We are ready to help you find the ideal place for you and your family to call “Home” in Spring Texas or the Woodlands.
Let me just start by saying that Jill made the daunting process of both selling my old home and finding... read moreLet me just start by saying that Jill made the daunting process of both selling my old home and finding my current one more pleasant than could have been expected. Throughout the entire process she was honest, easy to communicate with, and patient. When it came time to sell my old home, I contacted Jill and she met me at home at took the time to get to know me, why I was wanting to move, my timeframe. She showed me the comps she already prepared, and explained the entire process. We then did a walkthrough of house where Jill identified items that needed to be addressed to make the house more appealing (paint, fixtures, minor repairs). Once those issues were addressed, and the house was listed, it received multiple offers and Jill took the time to narrow down the best options and then explain what each one meant in detail with regards to the offer amount, type of financing and what it could mean down the road when it came to inspections and appraisals. Once we came to a decision on the right offer, the rest of the selling process moved along smoothly and Jill was quick with updates each step of the way.As the closing date of my old home approached, the focus shifted to finding a new home. Jill was very accommodating during this time as my fiancé and I had a very small window of time during each day where we were both available for showings. Jill was routinely able to get the showings scheduled during this time, often on short notice, and was helpful at pointing out things both positive and negative that we may not have noticed otherwise. No example better illustrated this than when we found a home that appeared to check all the boxes. During the showing, Jill pointed out the proximity to a major road, and the road noise during morning and evening traffic, and even brought up potential future expansion of road and surrounding area. Despite this warning, we were so enamored with the house that we went ahead and put in an offer. While waiting to find out if the offer would be accepted, I heeded Jill’s advice and checked into expansion projects, and decided to drive back by the house during rush hour to check on the road noise. We ended up pulling the offer and Jill seemed genuinely relieved. I appreciated the fact that she was willing to be as adamant about the issue as she was when she could have easily let us make that mistake, and made the sale. A short time later we did find the home that checked all the boxes without any road noise or any other issues, and the purchase process went as smooth as the selling process had been for my old home. Even months after closing, Jill continues to be helpful as she was able to provide quality handyman references for some small projects that I needed done. I’ve thoroughly enjoyed working with and getting to know Jill and I can’t recommend her enough. read less