"Matt is both professional and incredibly personable. Loved the clear and regular communication. Made the entire process a breeze! He is my absolute go-to when it comes to mortgages in Houston."
nathan bryant
Re-Entering The Housing Market – The Game Plan
As we continue down the path of higher home prices, inflation, and the FED stepping in, we need to think about how we can create more affordability for people wanting to buy a home. Between the higher price points on homes we have seen in the last two years combined with the higher interest rate environment we are experiencing now, you may have some buyers that are very reluctant to keep looking for homes or maybe even call it quits. Well....we have a solution.
First things first, we have to look at budgeting and make sure we have our financing in order. As the FED steps in and raises Fed Funds rates, they are affecting change on your short term debt. Short term debt are things like credit cards, car loans, home equity lines of credit, and anything short term adjustable. From the beginning of the year to now, the FED has increased the rate by 225 basis points, To put that in a number we can all understand, if you have $10K in credit card debt, you are now paying $225 more per month in payments. When they started this process in March, and they raised by 25 basis points, you likely didnt even feel it. Well now it is getting to the point of "uneasy" on most people's wallets. All of this is happening and we still need a place to live.
If you look to the right, I have put together some ideas on making sure you can retain the affordability you had before all of this happened. If we look back to late last year and you were approved for a loan that you thought you could afford, we have ways to get back to those numbers or at least really close to those numbers. Connect with me after watching the videos to the right and let me know if I can help you in the process.
First things first, we have to look at budgeting and make sure we have our financing in order. As the FED steps in and raises Fed Funds rates, they are affecting change on your short term debt. Short term debt are things like credit cards, car loans, home equity lines of credit, and anything short term adjustable. From the beginning of the year to now, the FED has increased the rate by 225 basis points, To put that in a number we can all understand, if you have $10K in credit card debt, you are now paying $225 more per month in payments. When they started this process in March, and they raised by 25 basis points, you likely didnt even feel it. Well now it is getting to the point of "uneasy" on most people's wallets. All of this is happening and we still need a place to live.
If you look to the right, I have put together some ideas on making sure you can retain the affordability you had before all of this happened. If we look back to late last year and you were approved for a loan that you thought you could afford, we have ways to get back to those numbers or at least really close to those numbers. Connect with me after watching the videos to the right and let me know if I can help you in the process.