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This year’s spring housing market is expected to be competitive. But that doesn’t mean you have to forgo your dream of buying a home this year.
Mortgage rates are still historically low, but they’re expected to rise. If you’re in the market for a new home, it’s a good idea to take advantage of the lower rates. You can view today’s rates on our website.
You can also take advantage of Bell Bank Mortgage’s 60 day lock-in agreements. The interest rate market is subject to movements without advance notice. Locking in a rate protects you from the time your lock is confirmed to the day your lock period expires. And if you’re building, you can nail down rates with a 1-year lock.
The housing market has normalized from where it was a couple of years ago, making it a good time to buy. Homes are selling, and values continue to appreciate, so if you’re serious about buying, meet with a lender to get pre-approved. That way you can be confident of your buying range.
If someone else makes an offer on the home you want to buy, it’s important to know your limits, so you know where to cap your offer to stay within your budget. Having a pre-approval can help you get into your new home faster by letting the seller know you’re serious about what you can afford.
Bell Bank Mortgage’s no origination fee program can save qualified home buyers money because you’ll need less cash to close on your new home or construction loan. On a $300,000 loan, that could mean a savings of $3,000. (Restrictions may apply. The program is not available on all loans.)
If you’re thinking about buying a home this spring, don’t wait! Contact one of our mortgage experts to get started.