Home Prices Increase in July First-Time Home Buyers Should Prepare

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Peoples Home Equity informs readers that home prices remain in a positive trend and applicants desiring to purchase a home should prepare for the appropriate mortgage.

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A housing recovery is in place, and first-time homebuyers are attracted the market's bullish trend.

Peoples Home Equity is pleased to echo news that housing prices climbed from the month of June to July. To prepare for purchasing a home in this rising market, the company encourages its first-time buyers to try useful calculators on its website.

On September 3rd, according to CoreLogic, a consumer information and analytics company, home prices increased 12.4% from the June to July period. The increase was 1.8% greater this year vs. last. The only challenge to rising home prices are climbing interest rates however, Corelogic expects prices to rise through August by another 0.4%. DQNews.com, a real-estate data collection site, shows national median homes sale prices have raised 14.2% year over year from September 5 2012 reconfirming a rising housing market. Rising property values are supporting evidence that a housing recovery is in place.

A housing recovery is in place, and first-time homebuyers are attracted to the market’s bullish trend. With strong demand in place Peoples Home Equity wants its mortgage applicants to be well prepared for making the right decision on the type of loan they choose.

The lending company offers individual’s home loan tools to better understand their financial situation. These useful calculators give prospective lien holders knowledge regarding how much credit they might be approved for, as well as how large of a mortgage payment they are comfortable paying. Additional calculators show how large a tax deduction will be, and how much one can save with paying off a mortgage on a bi-weekly payment plan.

For more information on a suitable mortgage, such as a jumbo, or harp loan, please contact a Peoples Home Equity loan officer at: 615-872-0220.

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Ornis Mala
Peoples Home Equity
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