San Diego, CA (PRWEB) September 29, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. Now, with the best interest rates in months now being available to home loan borrowers, Loan Love gives some tips for first time borrowers who are seeing these new low rates as a great opportunity for them to purchase their first home.
These low rates are the best home loan borrowers have been able to pin down in months. As a report from the Mortgage Daily News posted September 25 announces: “Mortgage rates fell to new 3-Month lows today. That makes this the 11th straight day where rates have held steady or moved lower. Conforming, 30yr Fixed rates remained at 4.375% (best-execution) for most lenders with the improvements coming in the form of lower closing costs or higher lender credit. Some lenders are efficiently priced at 4.25% as well.”
Clearly these new rates make for a great opportunity for home buyers, especially those who are planning to buy their first home. The new article from LoanLove.com explains how smart home loan borrowers should approach the idea of buying a home in today’s market. It explains:
“First, let’s start by saying that pretty much anyone who’s tried to buy a home in the last 10 years or so probably has an odd view of the housing market: From sky-high prices and easy financing at the height of the housing bubble to the rock-bottom prices and sea of foreclosures – not to mention much tighter financing – of just a couple of years ago, the market has been giving the appearance of instability and unpredictability to those unfamiliar with its long history. Of course, that’s pretty much all due to the banking fiasco that allowed – even encouraged – the writing of unrealistic loans on properties that were assessed at highly inflated values. For most of its history, the U.S. housing market has provided one of the most stable investment arenas around.”
So what should these buyers look for when purchasing a house? The three tips offered by the Love article are to:
- Act now
- Be realistic about what you can afford
- And know the real value of the home.
These three topics are explained in detail in the article and can help home buyers to keep things in perspective, especially since current low rates can cause some to be over eager and overlook important details that may result in losses down the line. For more information about what to be aware of when purchasing a home in today’s market, please visit LoanLove.com for the full home buyer’s guide.