If you’re like many people who have been renting a home, you’ve been waiting for the right time to buy one of your own.
The good news is that it looks like 2016 might be your year… and here’s why.
2016 Interest Rates Are STILL Low
Right now, 30-year fixed-rate home loans are sticking around 4 percent interest rates, which means that it might be a great time for you to apply. Naturally, interest rates can (and do) change quickly – but for now, they’re still at record lows.
Rent is Going Up
The cost of renting a home is climbing steadily, and that means it may be more affordable for you to buy your own house instead of rent. Even if your rent and potential mortgage payment are roughly equal, you have a choice between paying someone else and building equity in your own house.
Down Payments Don’t Have to Be Huge
With a number of mortgage programs requiring less than 20 percent down, including VA loans, FHA loans and the new Home Possible Advantage Mortgage program by Freddie Mac, you may not need to save a tremendous amount of money as a down payment.
Homeownership Sometimes Carries Tax Benefits
If you’re buying a home, you should talk to a tax professional before you file – you could be entitled to a number of deductions and benefits. Many homeowners are able to deduct several home-related expenses, including the monthly interest they pay on loans.
Are You Buying a Home in Franklin, Brentwood or the Surrounding Communities?
You can also check out our:
- Nashville real estate listings
- Brentwood real estate listings
- Franklin real estate listings
- Nolensville real estate listings
- Spring Hill and Thompson’s Station real estate listings
When you’re ready to explore your options, call us at 615-473-5973 or get in touch with us online. We’ll begin looking for homes that meet your needs right away.