Don't miss out on a Buyer's Market!
By Chuck Meachon, Vice President/COO, Ivy League Mortgage
If you've been waiting for the right time to make a home purchase, the time is here! In today’s buyer’s market, there are many incredible opportunities available, but they won’t be around for long.
In the second half of 2006, home sales slowed to a record low creating a glut of homes on the market in many areas across the county. As such, homebuyers now have a greater selection of options to find that ideal home at a fair market value.
Many savvy buyers have already recognized this trend and are taking advantage of it. Market indicators point to 2007 as being the seventh strongest year in the nation’s history for mortgage financing. Interest rates are at record low levels and what economists are calling a “correction in market values” appears to be near the end of the curve.
In past years when the market has been soft, such as 1966, 1993, 1998, and after the devastating tragedy of 911, many Americans were apprehensive about making real estate purchases. However, those who did purchase homes during these periods were able to maximize their financial investment by paying less than they normally might have. Just imagine how disappointed those homeowners would have felt if they had waited! Real estate, if purchased wisely, has proven to be one of the most rewarding investments in history.
In addition to being in a buyer's market, it is also a “re-finance” market. Many homeowners are converting their adjustable rate mortgages into a low rate fixed mortgage. High interest rate home equity loans are also frequently being refinanced. Many individuals have found that a new single low interest rate payment is a more attractive choice than their current combined first and second mortgage payments. To find out if a refinance is right for you, call us today, no obligation, and we'll compare your current monthly payments to a one payment option. It's easy and it only takes a few minutes.
As mortgage bankers (verses a broker or local mortgage company), our rates are competitive, but it is our unique product line which sets us apart from the competition. Ivy League Mortgage has an array of loan products readily available, including several 100% financing options. We often steer our first time home buyers to take full advantage of recent FHA changes which work in their favor. Although some recent industry changes have indeed tightened the sub-prime lending market, Ivy League Mortgage remains a forerunner in today's market with extensive programs to fit your individual needs.
With new mortgage products entering the market everyday, it is more important than ever to work with a lender that you can trust. Let’s face it, the mortgage process and mounds of paperwork can be intimidating, but understanding your contractual agreement and the terms of your financing is extremely important. At Ivy League Mortgage, our team of professionals will walk you through the entire process – step by step. Knowledge is power!
If you've been waiting to make a home purchase or to refinance, don't wait too long or you might miss the opportunities available today.
Ivy league Mortgage has been a trusted lender for over 10 years. We understand the local market and offer unsurpassed customer service. When you are ready to start the process or if you would simply like to acquire information, give us a call at 877-IVY-FIRST (877-489-3477). We'll help you obtain, afford and enjoy the home of your dreams.