Now Is The Time To Buy

Dated: 01/07/2020

Views: 84

Here at Sam Barnes Realty we work with the best of the best in lending. Here's some insight from one of our preferred Mortgage partners- Brent Blankenburg!

"Interest rates, which thrive in uncertainty, have remained incredibly low due to the current state of the World. Between the US military attack on Iran and their threat of retaliation, the everlasting Brexit saga, North Korea’s threats of building nuclear international missiles, and the impending impeachment hearings; we *might* enjoy these rates for some time to come."

" Interest rates are almost a full percent lower than they were a year ago. And on a $400,000 loan, a difference of 1% in interest rate is about $236 in monthly payment. That’s equivalent to about $40,000 in purchase price! Meaning you could buy a house today for $400,000 and your monthly payment would be approximately equivalent to buying a house a year ago for $360,000. The time to buy is now!"

Perhaps the biggest change of 2020 is with the VA loan. The VA has created a form of “unlimited eligibility” for Veterans- meaning a Veteran can now buy a house for $1M (if they qualify) with no down payment! As of last year, the maximum loan amount for a Veteran with no down payment in the Denver metro was $561,200. Anything above that and the Veteran would need to bring 25% of the difference. So if a Vet wanted to buy a $1M house in the Denver metro in 2019, they would need a down payment of $109,700 ({$1,000,000 - $561,200} x 25%). Now, for that same situation, they would need nada!"

Brent and his team are experts when it comes to finding the best loan and terms for their clients. Looking for down payment assistance? Specialty programs for "Hero" groups (Military, First Responders, Teachers, Medical)? Need advise on investing opportunities? They have all the answers! Contact Brent today to get started on your journey to home ownership....and let him know the Sam Barnes team sent you! :))


 

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Jayde Blankenburg

My name is Jayde; I am a Broker/Realtor here in Colorado and have been doing Real Estate as a career for 8 years. My passion for helping others in this venture started as a young kid; growing up, my f....

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