Looking for a Mortgage in Marco Island?
There are a lot of new mortgage options right now in the real estate mortgage market. Although you have heard in the past that a mortgage is very hard to obtain since the crash, recent studies show that it isn’t the case this time around. There are many more options today that there were two years back and we can help you obtain the information that you need to make a choice for the right mortgage interest rates for today.
As of right now, the rates are around 3.250% on a 30 year fixed conforming loan and at 2.825% on a 15 year fixed conforming loan. If a Jumbo loan is what you need, then we have those rates being at 3.11% on a 5/1 ARM and at 3.340% on a 30 year fixed jumbo loan. There are differences between the loan types and we would be happy to explain why an ARM loan could be your best bet if you plan to sell the property in just a few years.
Making a Financing Decision on a Property
When interest rates are at their lowest even some cash buyers decide to use financing because they can keep their cash in the bank for other options and still spend little in the ‘big picture’ on interest charges. We are in a current market for a lower interest rate right now so financing a home could be a great option if you were to say…invest in multiple properties or other things that would require you to have the down payment for each of the ventures.
I hope this article has given some ideas to buyer types and loan differences that can have an impact on both real estate buyers and sellers. We strive to make every transaction understandable for everyone and the comfort level of our customers is of the utmost importance. Please contact us for any questions or to apply for a loan today.
Real Estate Loans Explained
When a local real estate agent in Marco Island lists or sells a home, it is important for their customers to understand the options whether it is for a seller to be able to judge which offers coming in are the best, or for a buyer to be able to make the call on what type of loan is good for them and what terms make it the easiest for them to know they feel secure in their choice. A local Florida based lender can help in ways that you wouldn’t think about because of their local market knowledge.
It is always the best for an agent to let someone in the local mortgage market explain fully what is happening out there in the loan world at the time. Rates change weekly, if not daily in some cases and if a buyer wants to be ‘locked in’ sometimes time is of the essence to ensure that they receive the best rates they can get with the most appealing terms to go along with it.
If an owner is looking for the least upfront expenses in a loan, sometimes an ARM is the right way to go if they plan to sell it rather quickly. There are different types of ARM loans for different ideas of ownership. If a buyer is planning to keep the property for an extended period of time, a fixed loan might make them the most comfortable, knowing that the rates won’t change even if the financial market does.