Tuesday, December 5, 2023 / by Richard Eimers
By Jeremy Tanner
Lenders are offering free refinancing to get buyers into homes, but proceed with caution and read the fine print.
NEW YORK – Some lenders are getting creative and offering free refinancing to buyers willing to take the leap and purchase a house amid America's crushing combination of lofty home prices and high mortgage rates.
The selling point? It can be summed up by the real estate slogan that seems like it was created for 2023: "marry the house, date the rate."
Essentially, fall in love with your home, but remember that you can break up with your costly mortgage rate when you find a lower one in the future.
Mortgage rates retreated some in November but are still historically high, with the average rate on a 30-year fixed-rate mortgage at 7.22% as of Thursday, according to Freddie Mac. The last time they were this high was two decades ago.
Current conditions have created an incentive for lenders to find new ways of attracting buyers and driving business a ...
Monday, September 11, 2023 / by Richard Eimers
How to Buy a House While Selling Your Own
Some real estate markets are very competitive. If you’re looking to buy a house while selling your own and need the proceeds from the sale of your existing property to make a down payment, you may be frustrated with the choices you’re faced with.
Sellers in hot markets benefit from multiple offers and low, quick-moving inventory. These hurdles are problematic for buyers, but especially those on a tight timetable before their current home is scheduled to close. If you’re confident your home will sell very quickly, you may prefer to buy your new home before selling the old one. But how will you raise enough cash for the down payment? Although challenging, here are six options for buyers looking to buy a new home before selling the old house.
Buying a new house before selling the old one
Selling before buying is the way most people buy a home as the proceeds from the sale of a current home is usually required tL ...