As long-term mortgage rates reach heights not seen in 20 years, adjustable rate mortgages are seeing renewed interest.
A mortgage rate buydown is a strategy used by homebuyers to reduce the interest rate on their mortgage loan. This can be done by paying extra money at closing, which is then used to subsidize the interest rate for a certain period of time.
The leaves are turning brown and the air has a slight coolness to it; it’s definitely fall in the D.C. area. Few things are more cozy in this season than a bright, crackling fire, and all the better if someone else is there to provide the craft cocktails and food.
If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now
Thinking about purchasing a home with a friend? You definitely want to cross your T’s and dot your I’s before making this long-term commitment.