Why It’s Time to Buy

If you were interested in making a purchase, but delayed, and when you went back to the store, the price was lower, the financing more attractive, with many product choices and attractive options. . . . would it make a difference to you?  Today’s housing market is similar!
There are 5 key reasons why now is an excellent time to buy a home.

First, interest rates are at historic lows.Time To Buy A House 
Second, home prices are the lowest they have been in the last ten years in many areas.  Low rates with low home prices result in affordability.  The National Association of Realtors measures home affordability.  Their latest measure demonstrates that a family with the median family income has twice the income needed to qualify for a home at the median home price.

Third, there is a strong inventory of available properties, which means many to choose from.  
Fourth, there is a good variety of responsible loan programs to choose from as well, including several requiring low or no down payment.  
Fifth, this is the time of year when new programs offering down payment and closing cost assistance are granted new funds, further increasing the affordability by reducing loan amounts required and providing home buyers with the opportunity to use their own funds for reserves or other expenses.

How should you get started?  Even if you are not sure that buying now is the answer for you, it is best to schedule a free consultation with a mortgage professional at Standard Bank.  This is the first thing to do, even before looking at properties.  Many sellers will not even consider a buyer who has not been prequalified by a lender.  Standard Bank makes this easy for you.  You can start the free consultation in person, by phone, or online.
You can simplify the process by preparing for the consultation.  It can save significant time if you have available documentation regarding your income for the last 2 years, including signed copies of complete tax returns and W-2s.  Also needed is information about your assets, and information about your debts, including account numbers, balances, and minimum required payments.  Even a moderate amount of preparation up front can save a significant amount of time during your loan process.  Your mortgage professional will be your guide throughout the entire process.

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