Q: From a lender’s point of view, is this a good time to purchase a home?

A: Let me start by replying with a resounding – Yes! There are many good reasons to buy now rather than wait for a change in our real estate market. The first and most enduring reason to move ahead with a home purchase is our historically low interest rates that recently hit a 50 year low. Low interest rates result in lower mortgage payments, thousands of dollars of interest savings and more buying power. What you might have spent in a monthly payment on a lower priced home last year is now a similar payment for a more affordable and larger home. Lower interest rates and the corresponding lower monthly payments allow more people to buy and actively participate in the real estate market. Home affordability is the greatest in a generation and a key reason to purchase a home now. Our large inventory of homes for sale is also important. An abundance of homes to choose from allows you to view and consider many homes while increasing the probability that you will find a home that fits your criteria and meets your needs. Finally, in addition to low interest rates, affordability, and inventory being excellent reasons to buy are the many loan programs available to all potential buyers. While it is true that some loan programs have tightened up on their qualifications and have increased required documentation; it is also true that money is available and lenders want to lend. Partnering with a reputable, local direct lender such as Directors Mortgage is the best way to navigate the home loan process and is vital to your success. Local lending by a direct lender offers you the caring personal service and the attention to detail that will result in a great home buying experience.