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The dream of homeownership is deeply embedded in many people's aspirations. Yet, with changing market conditions, some potential buyers might contemplate waiting. While individual circumstances should always guide your decisions, here are reasons why delaying might not be in your best interest:
- The unpredictable nature of interest rates
Current interest rates might be somewhat higher than the record lows of recent years, making some potential buyers wary. But let's add some perspective: predicting future interest rates is a near-impossible task. Waiting for an 'ideal' rate can be akin to gambling. If you're concerned about current rates, it's worth noting that today's rates, in the grand sweep of mortgage history, remain significantly lower than many highs we've seen.
And here's where Evergreen Home Loans steps in with a compelling incentive. By choosing to buy now, you can benefit from our Buyer Booster Program*, available until September 29th, 2023. This exclusive program provides you with a $2,500 lender credit for a future refinance. While you're leveraging competitive interest rates today, you're also setting yourself up for potential savings in the future—a compelling reason to act now.
- The value of building equity now
Every mortgage payment you make builds equity in a tangible asset. By delaying a home purchase, you're missing out on this wealth-building opportunity. This is especially crucial when considering the appreciation of home values in many regions.
- The hidden costs of renting
Renting might seem cost-effective short-term, but over the years, it's a different story. Rent payments build your landlord's wealth, not yours. With rents often increasing, sometimes surpassing inflation rates, you might end up paying significantly more without any return on your investment.
- The intangible benefits of homeownership
Beyond finances, homeownership offers immeasurable benefits. The security, freedom to personalize your space, and a sense of belonging in a community are just a few. Postponing a home purchase might mean missing out on these enriching experiences.
Final thoughts
Choosing to buy a home is significant, influenced by various factors. But when you consider the current market trends, the present interest rates, and the opportunity to build equity coupled with our exclusive Buyer Booster Program*, there's a compelling argument for becoming a homeowner sooner rather than later.
For tailored advice, contact your local Evergreen lender today! Let’s get you into your dream home.
*Offer valid on purchase loans under contract and refinance loans closed between 7/1/2023 and 9/29/2023. The qualified borrower(s) will receive one $2,500 lender credit certificate redeemable towards a refinance on the same property. Offer is non-transferrable, may not be applied to other transactions, and may not be combined with a pricing concession. The refinance application date must be on or before 3/31/2025. The borrower must have made at least six (6) consecutive on-time payments on the purchase loan before closing the refinance. This is not a commitment to lend. Program is subject to change without notice. Not all applicants will qualify. Not all products available. Additional terms, conditions, and restrictions may apply. Call for details.
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