Updated: Feb 23, 2021
Low interest rates mean you have many options in our real estate market.
You’ve likely heard that interest rates are extremely low, so I don’t need to reiterate over and over that you should consider refinancing your home, for example. However, there’s much more that goes into interest rates, and that’s what I’m discussing today.
When interest rates are this low, you have an array of options.
Make sure you’re leveraged the right way. We all want to get out of debt, but you shouldn’t be afraid when it comes to a mortgage; you simply need to structure that debt the right way. That may mean doing a cash-out refinance, absorbing some of your consumer debt and use the equity, or maybe you own a house that has seen some significant appreciation and you can use the equity to purchase an investment property. You could also sell your home and buy a new one or even change from your current 30-year loan down to a 15-year.
The point is, when interest rates are this low, you have an array of options. You should be asking yourself questions about all the above scenarios. Our No. 1 goal is always your well-being, so even if we’re not your lender, if you have a question, we’ll give you our honest opinion and steer you in the right direction.
If you’re interested in taking advantage of these opportunities or want the answers to questions about any of these options, our team would love to help and guide you through the process. We hope to speak to you soon.