Since June is National Homeownership Month, we’d like to thank our borrowers and business associates alike for their trust and support. This includes the Texas REALTORS® who work tirelessly to help our borrowers find their ideal home, the home builders who take pride in their craftsmanship, and the support staff who help provide borrowers with a transparent home loan process from application to closing.
This month’s also an ideal time to share some good news about the local real estate and financial markets, and how homeownership may help build a secure future for yourself and your family.
Good news for homebuyers …
Last year’s booming economy contributed to rising home prices and fewer homes for sale, plus rising interest rates. This led to many potential buyers deciding to wait things out until their local real estate market settled down. However, if you’ve been waiting to buy a home, here’s some good news.
Not only have home prices stabilized in many areas, interest rates ignored the economists’ predictions of higher rates in 2019 and have actually fallen. In addition, there are more homes for sale now than there were 12 months ago, as Houston-area buyers have almost 20% more properties to choose from when compared to the first quarter of 2018
… the not-so-good news for renters
Monthly costs for many renters continued to rise over the past year, with some areas of the Houston metro area affected more than others. For example, rental rates in Conroe and Pasadena increased by 2.3% for a two-bedroom apartment
In addition to banking less of their monthly income, renters may lose out on building financial stability. According to a 2016 Federal Reserve survey
, an American homeowner’s net worth in 2016 was 44 times greater than that of a renter ($231,400 vs. $5,200).
If you’re currently renting, you may be thinking that it’s a good time to consider the benefits of homeownership.
We can help you!
We’re proud to assist Texans to achieve their dreams of homeownership. They include those who are first-time buyers, recovering from bankruptcy or foreclosure, have a poor credit history or are paying off student loans. We’re also approved to offer numerous home loan programs, including many that require a low- or zero-down payment. These include FHA, VA, and USDA home loans. You may also qualify for one or more down payment assistance programs that help make homeownership truly affordable.
We’re ready when you are, so why not begin exploring your options? Contact us
today, and we’ll help you take the first step to buy your first home, or move up to your next one.
Jun 17, 2019