When you are looking to purchase a home, the standard loan offered has been a 30-year fixed rate. But, the average home buyer doesn’t stay in their loan or home for 30 years, the new average is 7-8 years.
Get an Adjustable Rate Mortgage (ARM) now to purchase your home, then refinance to a lower rate in 2-5 years.  For example, for 5/1, the rate and payment are fixed for 5 years, with a 30-year amortized payment. These rates start at 5.75%, with no points, 5.812% APR, for $725,000 loan amount, 20% down, 740+ FICO, single family, owner occupied home. You will save $1,053 per month versus the average 30 year fixed rate now at 7.93% according to one source.
Here is good information and a graph of mortgage rates and existing home sales by Visual Capitalist: https://www.visualcapitalist.com/us-mortgage-rate-vs-existing-home-sales-chart/
For our economy to prosper, we need more home sales. So, after our Federal government gets inflation under control, don’t you think mortgage rates are going to decrease in the next 2-5 years? I do, as well as every economist I listen to and financial advisor I talk to currently.
For a quote or more details, call 714-310-4162.
Rave review on Google:
“I was introduced to Dan Stone by my financial advisor, who had known Dan for many years. He reviewed my loan needs and found the best path possible for my interests. Dan has gone above and beyond my expectations. He is definitely an expert in mortgage loans and finding the best loan program, lowest rate and fees. He’s honest, always has my interests in mind, coached me through the process and is a Godsend. I recommend him to all my friends and family.” -Lalo G.