Are interest rates weighing you down? This program just might be for you!
As the interest rates continue to be volatile the banks will continue to roll out programs to help people buy with lower interest rates. Right now I know there is a 2-1 Buy Down and a 3-1 Buy Down. The programs won’t be a one size fits all. You will want to do some homework and compare your options. Just because your friend uses one program doesn’t mean it is the right one for you.
Are interest rates weighing you down?
Watch the video for the details about how the 2-1 Buy Down works, the 3-1 Buy Down would be similar. Not all banks will offer both or either. If you use one of these programs, you need the seller to pay for the “Buy Down”.
While the inventory is still low we will continue to see a higher-than-average increase in values. The average in Denver before the Pandemic was about 3%, obviously, the 22% and the 13% increases in the past years will drastically change that. If we ever get back to a normal market and have a 3-8% increase in values, that will be more normal.
But what is normal? Will we ever get back to normal? Is this a new normal?
We do not have enough housing for our population. We do not have enough housing in the price ranges needed. Would having enough inventory mean we are back in a normal market?
Don’t let the interest rates weigh you down. Take advantage of your options and stay within your budget. You’ll be grateful you invested in yourself.
If you want to talk about real estate I want to talk about real estate with you. Call or message me so we can get the conversation started.