Buying a Home in Brentwood Ca 94513
If you have been hesitating on Buying a Home here is a great post on why you should not. If you are interested in Buying a Home now is the time.
For more information on Buying a Home in Brentwood or beyond, and to Search Homes on Line go to Home Point Real Estate.
Three years from now don't look back at these interest rates with regret. First time buyers, move up buyers, and those who are considering a refinance; Do it Now !
Many years ago I make a second mortgage loan to a big name celebrity. The celebrity had perfect credit, tons of equity on a beautiful home and more income per year than I will ever make in my lifetime..I made the celebrity - who by the way paid it off in 18 months and paid it better than the agreed terms-- I made the celebrity a $1,000,000 second mortgage at 18% interest. At that time those were the rates and my loan for this was the only loan in town.
18% is 1.5% per month.For $1,000,000 that is $15,000 per month in interest. Over many years rates go high and they go low. We have a generation of buyers who cannot conceive of this. We have people sitting on the fence when it comes to deciding to lock in at 4.25% or wait until the rate is 4.0%.
I remember in the mid 1980's when the interest rates started to fall. They started the year (I don't remember the year) but I remember they started the year around 14% and started to fall. I kept thinking we had bottomed out each time the rate went down a full percent. I was amazed when the rates left double digits for the single digit mark.
There are SOME people who know where rates will be. But the list is a lot shorter than experts want to pretend. Within months the rates will start to climb. I feel they will then again "settle" in the low 6% range. But the monthly interest between 6.25% and 4.25% on $400,000 is $667 each month or $8,000 a year. That is a NICE Hawaii vacation for a family of four!
If you lock at 4.75% and the rates go down you can again consider a refinance or you can simply bask in the glory of knowing you have one of the best interest rates of all time.
Doug Jones
Mortgage Magic
NMLS 286668
(408) 975-2400 X 110
Why Home Point Real Estate?
Home Point Real Estate is your partner in Buying a Home (Free MLS Access to Search for Homes) or Selling a Home (Get a Free on Line Home Evaluation). We are a Leading Internet Real Estate Company with the tools to meet the modern online Real Estate world combined with Traditional and Personal Customer Service.
Where is Home Point Real Estate?
Home Point Real Estate is Located in the East Contra Costa County community of Brentwood we also provide service to Discovery Bay, Antioch, Oakley, and Pittsburg. Click on the Community to see Homes For Sale Now.
Does Home Point Real Estate Handle Bank Owned Homes?
Yes! Go Here to: Get the Free Bank Owned Homes Buying Guide and Get a Free List of Bank Owned Homes.
What if I am in Foreclosure, having Mortgage Trouble, or Want to Short Sale my Home?
Home Point Real Estate is the company for you! Contact Home Point Real Estate and request a Free Consultation with a certifies SFR (Short Sale and Foreclosure Resource) to see if there is a way to save your Home or to do a Short Sale and help Save Your Credit. Get the Free Short Sale information Report for Buyers and Sellers too. Click Now for Short Sale Information and Free SFR Consultation.
Can Home Point Real Estate Help me with Real Estate Investments?
Get The Free Book of Real Estate Investing from Home Point Real Estate along with the Free Investor Calculator. This Book covers complex investing concepts in any easy to read manner with plenty of examples. Including Tax Issues, How to Evaluate an Investment Property, and more.
Make Home Point Real Estate your Partner in Real Estate Success – Call Now 925-260-4321
