Could it be the right time for you to buy a home?

Growing family? It just might be a great time to buy your first home or one that better fits your family’s needs. Mortgage rates remain low. And if home prices and mortgage rates increase in the next year or two as forecasted, home buyers who wait to buy a home could end up with significantly less buying power than they have today.

Various housing groups and economists are predicting mortgage rates will rise to between 4.5% and 5% by the end of the year.

The National Association of Realtors also is expecting home prices to increase in 2018 by an average of 3.2 percent nationally, with the highest appreciation predicted in the lower price ranges, which are in high demand. The combination of higher home prices and higher mortgage rates could make for a mortgage payment that’s significantly higher than it would be if the home were purchased now.

There are, of course, many other factors that come into play in the decision to buy a home, such as how long you plan to stay in your home, your employment situation and how much money you’ve saved up for a down payment. Let us help you crunch some numbers and help you decide when it’s the right time for you to buy.

As mortgage professionals, we make home buying easier for you with our broad range of custom loan programs. When you’re ready to get started on your home buying journey, give us a call.