In Current Buyer’s Market, Apply for Florida Home Mortgage Now - Or Pay More Later

Many buyers appear anxious to purchase property, but are waiting to see what prices will do in the future. Sound familiar?

If so, Weichert Financial Services has some advice for you: Don’t! Look into a Florida home mortgage now or it may prove costly down the line.

“Waiting to buy is taking a financial gamble, given the very real possibility of rising interest rates,” said Fred Watkins, president of the company. “Even if home prices weaken a little in some areas – although economists expect modest price appreciation overall – any potential savings could easily be overtaken by hikes in mortgage rates that would lessen affordability.”

From a financial standpoint, the time to jump into the real estate market is now, Watkins said, as buying power has never been stronger. YOU, the buyer, are in control. You can dictate terms of your Florida home mortgage loan.

What Watkins terms “a rare combination” of historically low interest rates and stabilized prices has created ideal conditions for home buyers. In past markets, he said, low rates have been accompanied by a fast sales pace and escalating prices. Today, even though interest rates are still near their lowest point in 25 years, the sales pace has normalized.

As houses stay on the market longer, not only do buyers have more inventory from which to choose, but also sellers are more willing to negotiate when an offer comes in.

Various kinds of Florida home loans

Home affordability is also spurred by the unprecedented number of Florida mortgage loan options available today. Weichert Financial Services offers more than 360 mortgage products, for example. These range from traditional fixed-rate loans that provide interest rate stability and predictable payments, to the newest innovative financing products, including those that offer the flexibility to choose how much you’ll pay each month.

For qualified buyers concerned that interest rates may go up while they house hunt, you can complete the COST-FREE form atop this page; it includes both a mortgage pre-approval and a lock-in feature that guarantees an interest rate for a specified period of time.

Watkins said, “Real estate remains one of the best investments you can make. Compared to the last several years, the current real estate market offers buyers a greater opportunity both to find their dream home and to purchase it with a mortgage product and an interest rate that make that dream affordable.”