14 Oct Are there other financing options?

Are there other financing options?

Buyers are asking what other options are available for mortgage financing as interest rates increase at such an alarming rate.

Here is what I am seeing…

· Some conventional buyers are going to FHA mortgages because of the lower interest rate.

· We have buydowns coming into our real estate market. An example of that is first year 4.99%, second year 5.99% and rest of the loan 6.99%. This also gives the buyer the ability to refinance when rates go down in the future.

· Adjustable-rate mortgages and starting to now come into the marketplace. These are yet to be extremely competitive but the demand is great for so you will see them get better.

· We offer rent to own options that allow you to purchase the home up to five years after you move in. This can allow you to finance it when rates go down.

I hope you found my blog on “Are there other financing options” helpful. Look for more blogs on all aspects of Minnesota, real estate, and the world around us.

Just call, text, or email me with questions.

Jeff Anderson

The Anderson Team

www.mnrealestate.com

RE/MAX RESULTS

612-386-8600