JTS Mortgage Minute 06/18/19 - National Homeownership Month

Credit: WCBI
Published on June 18, 2019 -

JTS Mortgage Minute 06/18/19 - National Homeownership Month

June is National Homeownership Month.

Lower borrowing costs mean that buyers are able to afford larger mortgages.

At JTS & Co.

Mortgage Professionals, we can structure a mortgage loan to fit your needs.

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JTS Mortgage Minute 06/18/19 - National Homeownership Month

Team we are going to ha homeownership month and this year's theme "dare to own th dream," emphasizes th importance of ensuring borrowers have the ability to purchase a home that serves them and their families well.

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Homeownership continues to be an important option for many americans to invest in their communities, build wealth, and achieve the american dream.

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Owning a home has been a source of pride and security for generations.

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From rural counties to bustling cities, homes offer an opportunity to lay down roots, start a family, and embark on new beginnings.

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Over the past 7 years, rising home values have brought millions of families out from being underwater, and home sales have increased substantially.

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Today, america's housing market is on firmer footing, and more americans are able to stay in their homes and afford their mortgages.

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The average rate for a 30- year mortgage dropped for a fifth straight week which is the lowest it's been since january 2018.

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Sustained low interest rates are tempting homeowners to move into bigger homes, with larger mortgages, instead of staying put and refinancing their current property.

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Lower borrowing costs mean that buyers are able to afford larger mortgages.

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This is attractive to homeowners looking to free themselves from their starter homes.

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Their choices in that next price bracket are increasing and they can use their profits from the sale of their current home towards the down payment on a new one.

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This motivation for current homeowners to move up is an example of how falling rates can help loosen up a tight market on several levels.

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When rates rise, homeowners are more likely to stay put because they don't want to take on bigger mortgages.

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When rates go down as they have been, they have more options, and that could trickle down and free up inventory.

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For potential buyers looking to break into the market, low rates mean that more people are getting themselves in a mortgage- ready position.

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That could make competion for homes even tighter, so a solid prequalification is more important than ever.

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Trusting jts & co.

To do a thorough evaluation of your credit profile and issue a sound prequalification is always a smart move.

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We've been helping families with their home ownership goals since 1996 and plan to continue doing so for another 20+ years.

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Convenience topped the motivations of nearly half of millennials for buying their first home with their spouses more than the other generations according to a recent survey.

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48% of millennials bought a home before tying the knot, compared to 35% of baby boomers.

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A small percentage of both bachelors and bachelorettes said they would prefer to sell their existing properties and buy a new home with their significant other after getting married.

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The primary motivations for millennials who have owned homes included proximity to work, schools, and leisure activities.

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Whether you are buying a home, downsizing, or selling, it's easier to live life to the fullest when you are financially confident.

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While everyone has different goals, across all generations and lifestyle choices, it is important to make sure your financial habits are supporting the moments that matter most to you.

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Choosing a lender that cares what your long-term goals are and tries to tailor your financing to those goals is key.

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At jts & co.

We want to sit down and discuss those goals.

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It might sound strange but knowing that information helps us help you!

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For example, it may not be beneficial for you to put 20% down.

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As a matter of fact, more often than not, that large of a down payment is unnecessary anyway since the average loan only stays on the books for 7 years.

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Another example is it may not be as important to you to have the absolute lowest interest rate because you don't plan to live in the home over the course of 30 years when compared to the cost of that rate.

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We can structure the loan to benefit your immediate needs.

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Bottom line, at jts & co.

We have options to fit all types of scenarios.

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Give us a call to review your specific situation and let us help you dare to own the dream of homeownership.

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Whether you are looking to purchase or refinance your home, give jts & co.

A call.

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We are local.

Trusted.

And experienced.

And we want to make homeownership easy for you!

Thanks for joining me today, be sure to tune in next week.

Reentry

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